Private Advisor Group LLC maintained its position in shares of Gerdau SA (NYSE:GGB) during the second quarter, Holdings Channel reports. The firm owned 73,268 shares of the company’s stock at the end of the second quarter. Private Advisor Group LLC’s holdings in Gerdau SA were worth $132,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Oxford Asset Management acquired a new stake in Gerdau SA during the second quarter worth about $2,779,000. Boston Partners raised its stake in Gerdau SA by 50.0% in the second quarter. Boston Partners now owns 1,500,000 shares of the company’s stock worth $2,730,000 after buying an additional 500,000 shares during the period. Nwam LLC raised its stake in Gerdau SA by 7.5% in the second quarter. Nwam LLC now owns 139,170 shares of the company’s stock worth $253,000 after buying an additional 9,725 shares during the period. Emerald Acquisition Ltd. acquired a new stake in Gerdau SA during the second quarter worth about $14,550,000. Finally, Societe Generale acquired a new stake in Gerdau SA during the second quarter worth about $478,000. 6.08% of the stock is currently owned by institutional investors and hedge funds.
Shares of Gerdau SA (NYSE:GGB) traded down 1.12% during mid-day trading on Monday, hitting $2.64. The company’s stock had a trading volume of 3,441,410 shares. The company’s market cap is $4.53 billion. Gerdau SA has a 1-year low of $0.79 and a 1-year high of $3.19. The company has a 50-day moving average of $2.79 and a 200 day moving average of $2.09.
The company also recently disclosed a dividend, which was paid on Monday, September 12th. Stockholders of record on Thursday, August 25th were paid a dividend of $0.008 per share. The ex-dividend date was Tuesday, August 23rd. Gerdau SA’s dividend payout ratio (DPR) is -2.53%.
A number of analysts have issued reports on the company. Zacks Investment Research lowered Gerdau SA from a “buy” rating to a “hold” rating in a report on Friday, September 9th. Morgan Stanley raised Gerdau SA from an “equal weight” rating to an “overweight” rating in a report on Thursday, August 18th. Finally, Credit Suisse Group AG raised Gerdau SA from a “neutral” rating to an “outperform” rating in a report on Thursday, August 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $3.00.
About Gerdau SA
Gerdau SA (Gerdau) is a producer of long rolled steel. The Company operates in five segments: Brazil (Brazil Business Operation), which includes the steel operations in Brazil (except special steel) and the metallurgical and coking coal operation in Colombia; North America (North America Business Operation), which includes all North American operations, except Mexico and special steel; Latin America (Latin America Business Operation), which includes all Latin American operations, except the operations in Brazil and the metallurgical and coking coal operations in Colombia; Special Steel (Special Steel Business Operation), which includes the special steel operations in Brazil, Spain, the United States and India, and Iron Ore (Iron Ore Business Operation), which includes the iron ore operations in Brazil.
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