Jump Financial LLC Lowers Holdings in Gerdau S.A. (NYSE:GGB)

Jump Financial LLC decreased its stake in Gerdau S.A. (NYSE:GGB) by 53.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 153,511 shares of the basic materials company’s stock after selling 179,040 shares during the quarter. Jump Financial LLC’s holdings in Gerdau were worth $905,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Optiver Holding B.V. purchased a new stake in shares of Gerdau in the first quarter worth about $130,692,000. JPMorgan Chase & Co. boosted its stake in shares of Gerdau by 5.0% in the first quarter. JPMorgan Chase & Co. now owns 20,507,935 shares of the basic materials company’s stock worth $109,513,000 after buying an additional 977,867 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Gerdau by 134.6% in the second quarter. BlackRock Inc. now owns 17,105,222 shares of the basic materials company’s stock worth $100,922,000 after buying an additional 9,814,708 shares during the last quarter. Fisher Asset Management LLC raised its holdings in Gerdau by 1.2% in the 2nd quarter. Fisher Asset Management LLC now owns 9,426,025 shares of the basic materials company’s stock worth $55,614,000 after purchasing an additional 114,322 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Gerdau by 9.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,894,813 shares of the basic materials company’s stock worth $46,609,000 after purchasing an additional 688,269 shares during the period. Hedge funds and other institutional investors own 2.69% of the company’s stock.

Shares of Gerdau stock opened at $4.98 on Thursday. The business has a 50 day simple moving average of $5.22 and a two-hundred day simple moving average of $5.75. Gerdau S.A. has a 12 month low of $3.74 and a 12 month high of $7.27. The stock has a market capitalization of $8.56 billion, a P/E ratio of 3.95, a PEG ratio of 0.22 and a beta of 1.58. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.58 and a quick ratio of 1.32.

Gerdau (NYSE:GGB) last announced its earnings results on Sunday, October 3rd. The basic materials company reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.27 by ($0.31). Gerdau had a net margin of 19.01% and a return on equity of 35.05%. As a group, research analysts anticipate that Gerdau S.A. will post 1.31 EPS for the current fiscal year.

The company also recently announced a Variable dividend, which will be paid on Tuesday, November 23rd. Shareholders of record on Thursday, September 30th will be issued a dividend of $0.0814 per share. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a dividend yield of 7.2%. This is a boost from Gerdau’s previous Variable dividend of $0.01. Gerdau’s dividend payout ratio is presently 111.11%.

A number of equities analysts recently weighed in on the company. Zacks Investment Research cut Gerdau from a “buy” rating to a “hold” rating in a report on Tuesday, September 21st. Credit Suisse Group raised Gerdau from a “neutral” rating to an “outperform” rating in a report on Thursday, September 9th. Finally, Scotiabank raised Gerdau from a “sector perform” rating to an “outperform” rating in a report on Tuesday, September 7th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $6.25.

About Gerdau

Gerdau SA engages in the production and commercialization of steel products. It operates through the following segments: Brazil Operation, North America Operation, South Africa Operation, and Special Steels Operation. The Brazil Operation segment includes rebar, bars, shapes, drawn products, billets, blooms, slabs; wire rod, structural shapes, and iron ore.

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Institutional Ownership by Quarter for Gerdau (NYSE:GGB)

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