Gerdau S.A. (NYSE:GGB) Holdings Increased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Gerdau S.A. (NYSE:GGB) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,032,541 shares of the basic materials company’s stock after acquiring an additional 7,492 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Gerdau were worth $2,974,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FMR LLC lifted its position in Gerdau by 11.1% in the third quarter. FMR LLC now owns 88,979,025 shares of the basic materials company’s stock worth $311,427,000 after purchasing an additional 8,898,975 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Gerdau in the 3rd quarter worth $29,750,000. Two Sigma Advisers LP lifted its holdings in shares of Gerdau by 298.1% in the third quarter. Two Sigma Advisers LP now owns 6,097,460 shares of the basic materials company’s stock valued at $21,341,000 after buying an additional 4,565,900 shares during the period. Rockefeller Capital Management L.P. boosted its stake in Gerdau by 0.3% during the third quarter. Rockefeller Capital Management L.P. now owns 3,332,715 shares of the basic materials company’s stock valued at $11,665,000 after buying an additional 11,428 shares in the last quarter. Finally, Itau Unibanco Holding S.A. grew its holdings in Gerdau by 170.0% during the third quarter. Itau Unibanco Holding S.A. now owns 2,887,200 shares of the basic materials company’s stock worth $10,105,000 after acquiring an additional 1,817,800 shares during the period. 1.49% of the stock is currently owned by institutional investors.

Gerdau Price Performance

NYSE GGB opened at $3.03 on Tuesday. Gerdau S.A. has a 1 year low of $2.67 and a 1 year high of $4.04. The business’s fifty day moving average is $2.91 and its two-hundred day moving average is $3.15. The stock has a market capitalization of $6.29 billion, a P/E ratio of 7.03 and a beta of 1.69. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.98.

Gerdau (NYSE:GGB) last announced 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 company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.66 billion. On average, research analysts forecast that Gerdau S.A. will post 0.46 earnings per share for the current fiscal year.

Gerdau Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a $0.0175 dividend. This represents a $0.07 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, March 7th. Gerdau’s payout ratio is 13.95%.

Wall Street Analyst Weigh In

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

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.