Schonfeld Strategic Advisors LLC Takes Position in Gerdau S.A. (NYSE:GGB)

Schonfeld Strategic Advisors LLC acquired a new stake in shares of Gerdau S.A. (NYSE:GGB) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 91,200 shares of the basic materials company’s stock, valued at approximately $263,000.

Several other institutional investors have also modified their holdings of GGB. Private Advisor Group LLC bought a new stake in Gerdau in the 4th quarter valued at approximately $32,000. Wealthfront Advisers LLC bought a new stake in Gerdau in the 4th quarter valued at approximately $32,000. Zhang Financial LLC bought a new stake in Gerdau in the 4th quarter valued at approximately $34,000. R Squared Ltd bought a new stake in Gerdau in the 4th quarter valued at approximately $36,000. Finally, Carrera Capital Advisors bought a new stake in Gerdau in the 4th quarter valued at approximately $40,000. Institutional investors own 1.49% of the company’s stock.

Gerdau Trading Up 2.1%

Shares of Gerdau stock opened at $2.68 on Tuesday. Gerdau S.A. has a 12-month low of $2.27 and a 12-month high of $4.04. The stock has a market cap of $5.56 billion, a P/E ratio of 6.22 and a beta of 1.43. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $2.71 and its 200-day moving average is $2.96.

Gerdau (NYSE:GGB) last announced its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. Gerdau had a return on equity of 7.74% and a net margin of 7.03%. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.66 billion. Equities research analysts predict that Gerdau S.A. will post 0.46 earnings per share for the current fiscal year.

Gerdau Increases Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.0188 per share. The ex-dividend date of this dividend is Monday, May 12th. This represents a dividend yield of 2.95%. This is a boost from Gerdau’s previous dividend of $0.00. Gerdau’s dividend payout ratio is currently 24.14%.

Analyst Ratings Changes

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

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.