316,396 Shares in Gerdau S.A. $GGB Purchased by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new position in Gerdau S.A. (NYSE:GGB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 316,396 shares of the basic materials company’s stock, valued at approximately $981,000.

Other large investors have also modified their holdings of the company. AQR Capital Management LLC raised its holdings in shares of Gerdau by 65.9% in the first quarter. AQR Capital Management LLC now owns 582,949 shares of the basic materials company’s stock worth $1,656,000 after buying an additional 231,588 shares during the period. Millennium Management LLC boosted its holdings in Gerdau by 54.6% during the 1st quarter. Millennium Management LLC now owns 4,363,764 shares of the basic materials company’s stock valued at $12,393,000 after acquiring an additional 1,541,311 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Gerdau by 821.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,344,175 shares of the basic materials company’s stock valued at $6,657,000 after acquiring an additional 2,089,675 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in Gerdau in the second quarter worth $51,000. Finally, Vanguard Personalized Indexing Management LLC increased its stake in Gerdau by 72.4% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 42,367 shares of the basic materials company’s stock worth $124,000 after purchasing an additional 17,790 shares during the period. Hedge funds and other institutional investors own 1.49% of the company’s stock.

Wall Street Analysts Forecast Growth

GGB has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Gerdau from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Weiss Ratings reissued a “hold (c)” rating on shares of Gerdau in a research report on Monday, December 29th. Finally, UBS Group restated a “buy” rating and issued a $4.60 target price (up from $4.00) on shares of Gerdau in a research note on Monday, December 15th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.60.

Gerdau Stock Performance

Shares of GGB stock opened at $4.12 on Friday. The company’s 50 day moving average is $4.04 and its 200 day moving average is $3.54. The company has a quick ratio of 1.47, a current ratio of 2.70 and a debt-to-equity ratio of 0.30. The firm has a market cap of $8.24 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 1.17 and a beta of 1.46. Gerdau S.A. has a 52-week low of $2.27 and a 52-week high of $4.66.

Gerdau Company Profile

Gerdau SA is a Brazilian-based steel producer engaged in the manufacture and distribution of long steel products for the construction, industrial and agricultural sectors. Established in 1901, the company operates an integrated network of electric-arc furnaces and rolling mills, producing reinforcement bars, wire rod, merchant bars and structural shapes. Gerdau’s product portfolio also includes specialty long steel, high-yield reinforcement, rail, beams and steel coils, as well as value-added processing services such as cutting, bending and coating.

The company has expanded its footprint beyond Brazil, with significant operations in North America, South America and a presence in select European markets.