Gerdau S.A. (NYSE:GGB) Position Increased by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC grew its holdings in shares of Gerdau S.A. (NYSE:GGB) by 48.0% during the fourth quarter, Holdings Channel reports. The firm owned 4,803,639 shares of the basic materials company’s stock after acquiring an additional 1,557,174 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Gerdau were worth $13,834,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Rehmann Capital Advisory Group acquired a new stake in Gerdau during the third quarter worth about $37,000. Private Advisor Group LLC acquired a new stake in shares of Gerdau during the 4th quarter worth approximately $32,000. Wealthfront Advisers LLC bought a new stake in shares of Gerdau in the 4th quarter worth approximately $32,000. HighTower Advisors LLC acquired a new position in Gerdau during the 3rd quarter valued at approximately $38,000. Finally, Zhang Financial LLC bought a new position in Gerdau during the 4th quarter worth $34,000. 1.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, UBS Group assumed coverage on Gerdau in a research note on Wednesday, March 12th. They issued a “neutral” rating on the stock.

Gerdau Stock Performance

GGB opened at $2.57 on Monday. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $2.93 and its 200-day moving average is $3.12. The stock has a market cap of $5.33 billion, a PE ratio of 5.97 and a beta of 1.37. Gerdau S.A. has a twelve month low of $2.36 and a twelve month high of $4.04.

Gerdau (NYSE:GGB) last announced 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 firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.66 billion. On average, analysts predict that Gerdau S.A. will post 0.46 earnings per share for the current year.

Gerdau Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.0175 dividend. This represents a $0.07 annualized dividend and a yield of 2.74%. The ex-dividend date was Friday, March 7th. Gerdau’s payout ratio is currently 13.95%.

About Gerdau

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.