Axiom International Investors LLC DE lifted its stake in shares of Gerdau SA (NYSE:GGB) by 13.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,096,222 shares of the basic materials company’s stock after buying an additional 1,528,362 shares during the quarter. Gerdau comprises 1.6% of Axiom International Investors LLC DE’s portfolio, making the stock its 19th largest position. Axiom International Investors LLC DE owned approximately 0.76% of Gerdau worth $55,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in Gerdau by 6.0% in the second quarter. Bank of New York Mellon Corp now owns 1,990,519 shares of the basic materials company’s stock worth $7,046,000 after purchasing an additional 113,441 shares during the period. FMR LLC grew its holdings in Gerdau by 111.5% in the second quarter. FMR LLC now owns 426,300 shares of the basic materials company’s stock worth $1,509,000 after purchasing an additional 224,700 shares during the period. SG Americas Securities LLC purchased a new stake in Gerdau in the third quarter worth about $2,433,000. Fisher Asset Management LLC grew its holdings in shares of Gerdau by 112.1% during the third quarter. Fisher Asset Management LLC now owns 4,807,069 shares of the basic materials company’s stock valued at $20,238,000 after buying an additional 2,540,235 shares during the last quarter. Finally, Pinebridge Investments L.P. grew its holdings in shares of Gerdau by 288.3% during the second quarter. Pinebridge Investments L.P. now owns 1,338,833 shares of the basic materials company’s stock valued at $4,740,000 after buying an additional 994,045 shares during the last quarter. Institutional investors own 5.58% of the company’s stock.
NYSE:GGB opened at $3.88 on Friday. Gerdau SA has a 52 week low of $3.23 and a 52 week high of $5.32. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.43 and a current ratio of 2.42. The company has a market cap of $6.55 billion, a PE ratio of 43.11, a PEG ratio of 0.37 and a beta of 2.19.
Gerdau (NYSE:GGB) last posted its quarterly earnings results on Wednesday, November 7th. The basic materials company reported $0.15 EPS for the quarter. Gerdau had a net margin of 0.80% and a return on equity of 9.41%. The firm had revenue of $3.26 billion for the quarter. As a group, equities analysts predict that Gerdau SA will post 0.42 earnings per share for the current fiscal year.
The company also recently declared a special dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 26th will be issued a dividend of $0.0345 per share. The ex-dividend date is Friday, November 23rd. Gerdau’s payout ratio is 22.22%.
GGB has been the topic of a number of recent analyst reports. Bank of America reiterated a “buy” rating on shares of Gerdau in a report on Thursday, August 16th. Zacks Investment Research upgraded shares of Gerdau from a “hold” rating to a “buy” rating and set a $4.75 price target on the stock in a report on Tuesday, October 16th. Finally, HSBC upgraded shares of Gerdau from a “hold” rating to a “buy” rating in a report on Monday, September 17th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $4.75.
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Gerdau SA provides steel-related products and services worldwide. It operates through four segments: Brazil Operations, North America Operations, South America Operations, and Special Steel Operations. The company offers semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles, which are used primarily in the construction and manufacturing industries; and drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire meshes, nails, and clamps, as well as mines and produces iron ore.
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