444,090 Shares in Gerdau S.A. (NYSE:GGB) Bought by Capital Wealth Planning LLC

Capital Wealth Planning LLC acquired a new position in shares of Gerdau S.A. (NYSE:GGB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 444,090 shares of the basic materials company’s stock, valued at approximately $1,279,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Blue Trust Inc. raised its holdings in shares of Gerdau by 132.8% during the third quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 4,952 shares in the last quarter. Private Advisor Group LLC bought a new position in Gerdau during the fourth quarter valued at about $32,000. Zhang Financial LLC bought a new position in Gerdau during the fourth quarter valued at about $34,000. R Squared Ltd bought a new position in Gerdau during the fourth quarter valued at about $36,000. Finally, Rehmann Capital Advisory Group bought a new position in Gerdau during the third quarter valued at about $37,000. 1.49% of the stock is currently owned by hedge funds and other institutional investors.

Gerdau Price Performance

NYSE GGB opened at $2.84 on Friday. Gerdau S.A. has a fifty-two week low of $2.67 and a fifty-two week high of $4.04. The stock’s 50-day moving average is $2.92 and its two-hundred day moving average is $3.18. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53. The firm has a market cap of $5.89 billion, a P/E ratio of 6.59 and a beta of 1.73.

Gerdau (NYSE:GGB) last posted its earnings results on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share for the quarter, meeting the consensus estimate 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 analyst estimates of $2.66 billion. On average, analysts anticipate that Gerdau S.A. will post 0.46 earnings per share for the current fiscal year.

Gerdau Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a $0.0175 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 2.47%. Gerdau’s payout ratio is presently 13.95%.

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.