Jane Street Group LLC Grows Stake in Gerdau S.A. (NYSE:GGB)

Jane Street Group LLC increased its holdings in Gerdau S.A. (NYSE:GGB) by 221.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,236,271 shares of the basic materials company’s stock after buying an additional 851,203 shares during the period. Jane Street Group LLC owned 0.06% of Gerdau worth $3,560,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in GGB. Private Advisor Group LLC purchased a new position in Gerdau in the 4th quarter worth approximately $32,000. Wealthfront Advisers LLC bought a new stake in shares of Gerdau during the 4th quarter worth $32,000. Zhang Financial LLC purchased a new position in Gerdau in the fourth quarter worth $34,000. R Squared Ltd purchased a new position in Gerdau in the fourth quarter worth $36,000. Finally, Carrera Capital Advisors bought a new position in Gerdau in the fourth quarter valued at $40,000. Institutional investors own 1.49% of the company’s stock.

Gerdau Price Performance

GGB stock opened at $2.68 on Tuesday. The firm has a market cap of $5.56 billion, a P/E ratio of 6.22 and a beta of 1.43. The firm’s fifty day moving average is $2.71 and its 200 day moving average is $2.96. Gerdau S.A. has a 52 week low of $2.27 and a 52 week high of $4.04. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.98.

Gerdau (NYSE:GGB) last posted its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.66 billion. Gerdau had a net margin of 7.03% and a return on equity of 7.74%. Research analysts predict that Gerdau S.A. will post 0.46 earnings per share for the current year.

Gerdau Increases Dividend

The business also recently declared a dividend, which will be paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th will be given a dividend of $0.0188 per share. This represents a yield of 2.95%. This is a positive change from Gerdau’s previous dividend of $0.00. The ex-dividend date of this dividend is Monday, May 12th. Gerdau’s dividend payout ratio (DPR) is presently 24.14%.

Analyst Ratings Changes

GGB has been the subject of a number of research reports. Bank of America reiterated a “neutral” rating on shares of Gerdau in a report on Monday, April 7th. UBS Group cut their target price on Gerdau from $3.30 to $2.90 and set a “neutral” rating for the company in a research note on Wednesday, April 30th.

Gerdau Profile

Gerdau SA, together with its subsidiaries, operates as a steel producer company. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It also provides semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles to the construction and manufacturing industries; drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, construction, and agricultural industries; and special steel products used in auto parts, light and heavy vehicles, and agricultural machinery, as well as in the oil and gas, wind energy, machinery and equipment, mining and rail, and other markets.