Banco BTG Pactual S.A. Makes New $89,000 Investment in Gerdau S.A. (NYSE:GGB)

Banco BTG Pactual S.A. bought a new stake in Gerdau S.A. (NYSE:GGB) during the 4th quarter, Holdings Channel reports. The fund bought 30,900 shares of the basic materials company’s stock, valued at approximately $89,000.

Several other institutional investors also recently modified their holdings of the business. Private Advisor Group LLC acquired a new stake in Gerdau during the 4th quarter worth $32,000. Wealthfront Advisers LLC acquired a new stake in shares of Gerdau during the fourth quarter worth $32,000. Zhang Financial LLC acquired a new position in Gerdau in the fourth quarter valued at about $34,000. R Squared Ltd acquired a new stake in shares of Gerdau in the 4th quarter valued at approximately $36,000. Finally, Rehmann Capital Advisory Group bought a new stake in Gerdau in the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 1.49% of the company’s stock.

Gerdau Stock Up 0.8 %

Shares of GGB stock opened at $3.04 on Thursday. Gerdau S.A. has a 12-month low of $2.67 and a 12-month high of $4.04. 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 fifty day moving average of $2.94 and a 200-day moving average of $3.14. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of 7.06 and a beta of 1.69.

Gerdau (NYSE:GGB) last released its earnings results 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 firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.66 billion. As a group, equities research analysts predict 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 was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a dividend of $0.0175 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 2.31%. Gerdau’s dividend payout ratio is 13.95%.

Analysts Set New Price Targets

Separately, UBS Group started coverage on shares of Gerdau in a research report on Wednesday, March 12th. They issued a “neutral” rating for the company.

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.