Optiver Holding B.V. Has $4.21 Million Stock Holdings in Gerdau S.A. $GGB

Optiver Holding B.V. trimmed its stake in shares of Gerdau S.A. (NYSE:GGB) by 53.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,166,148 shares of the basic materials company’s stock after selling 1,364,775 shares during the period. Optiver Holding B.V.’s holdings in Gerdau were worth $4,210,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Gerdau by 68.9% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,634 shares of the basic materials company’s stock worth $28,000 after buying an additional 3,931 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Gerdau by 95.3% in the second quarter. EverSource Wealth Advisors LLC now owns 10,687 shares of the basic materials company’s stock worth $31,000 after buying an additional 5,216 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Gerdau in the third quarter worth about $34,000. Coldstream Capital Management Inc. purchased a new position in shares of Gerdau in the third quarter worth approximately $37,000. Finally, Greenspring Advisors LLC purchased a new position in shares of Gerdau in the fourth quarter worth approximately $40,000. Institutional investors and hedge funds own 1.49% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Cunha Gustavo Werneck Da sold 432,854 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $4.87, for a total value of $2,107,998.98. Following the completion of the sale, the chief executive officer directly owned 432,854 shares of the company’s stock, valued at $2,107,998.98. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Chia Yuan Wang sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $4.75, for a total transaction of $190,000.00. Following the sale, the insider owned 32,195 shares of the company’s stock, valued at approximately $152,926.25. This represents a 55.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 535,789 shares of company stock worth $2,588,527. Insiders own 0.02% of the company’s stock.

Gerdau Stock Up 0.1%

Shares of Gerdau stock opened at $4.96 on Friday. The stock has a 50-day moving average price of $4.53 and a 200 day moving average price of $4.26. The company has a market cap of $9.93 billion, a P/E ratio of 31.03 and a beta of 1.50. The company has a current ratio of 2.76, a quick ratio of 1.29 and a debt-to-equity ratio of 0.26. Gerdau S.A. has a 1 year low of $2.85 and a 1 year high of $5.02.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on GGB shares. Weiss Ratings restated a “hold (c)” rating on shares of Gerdau in a report on Wednesday, June 24th. UBS Group reaffirmed a “buy” rating and issued a $5.25 price objective (up from $4.60) on shares of Gerdau in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Gerdau from $5.50 to $6.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $5.28.

About Gerdau

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.