Carrera Capital Advisors Buys New Shares in Gerdau S.A. (NYSE:GGB)

Carrera Capital Advisors purchased a new stake in shares of Gerdau S.A. (NYSE:GGB) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 13,998 shares of the basic materials company’s stock, valued at approximately $40,000.

Several other large investors have also recently added to or reduced their stakes in GGB. FMR LLC raised its stake in shares of Gerdau by 11.1% in the third quarter. FMR LLC now owns 88,979,025 shares of the basic materials company’s stock valued at $311,427,000 after purchasing an additional 8,898,975 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Gerdau in the 3rd quarter valued at $29,750,000. Two Sigma Advisers LP lifted its holdings in shares of Gerdau by 298.1% during the 3rd quarter. Two Sigma Advisers LP now owns 6,097,460 shares of the basic materials company’s stock worth $21,341,000 after acquiring an additional 4,565,900 shares during the period. Itau Unibanco Holding S.A. boosted its position in shares of Gerdau by 170.0% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 2,887,200 shares of the basic materials company’s stock valued at $10,105,000 after acquiring an additional 1,817,800 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Gerdau in the third quarter valued at about $3,283,000. Institutional investors and hedge funds own 1.49% of the company’s stock.

Gerdau Stock Performance

NYSE:GGB opened at $2.82 on Wednesday. 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 firm has a 50-day moving average price of $2.91 and a 200 day moving average price of $3.18. The firm has a market capitalization of $5.85 billion, a PE ratio of 6.55 and a beta of 1.73. Gerdau S.A. has a 12-month low of $2.67 and a 12-month high of $4.04.

Gerdau (NYSE:GGB) last announced its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.06 EPS 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 business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.66 billion. Research analysts anticipate that Gerdau S.A. will post 0.46 earnings per share for the current fiscal year.

Gerdau Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a $0.0175 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.07 dividend on an annualized basis and a yield of 2.49%. Gerdau’s dividend payout ratio (DPR) 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.