JPMorgan Chase & Co. lifted its holdings in shares of Gerdau SA (NYSE:GGB) by 33.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,131,604 shares of the basic materials company’s stock after purchasing an additional 2,267,649 shares during the period. JPMorgan Chase & Co. owned about 0.53% of Gerdau worth $30,865,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GGB. Vanguard Group Inc. raised its stake in shares of Gerdau by 9.1% during the 1st quarter. Vanguard Group Inc. now owns 10,459,948 shares of the basic materials company’s stock worth $36,087,000 after purchasing an additional 871,682 shares during the period. Aperio Group LLC raised its stake in Gerdau by 38.4% in the 2nd quarter. Aperio Group LLC now owns 116,078 shares of the basic materials company’s stock valued at $354,000 after acquiring an additional 32,213 shares during the period. Strs Ohio raised its stake in Gerdau by 50.0% in the 2nd quarter. Strs Ohio now owns 144,000 shares of the basic materials company’s stock valued at $439,000 after acquiring an additional 48,000 shares during the period. Global X Management Co. LLC raised its stake in Gerdau by 6.2% in the 2nd quarter. Global X Management Co. LLC now owns 34,134 shares of the basic materials company’s stock valued at $104,000 after acquiring an additional 1,997 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in Gerdau by 36.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 87,564 shares of the basic materials company’s stock valued at $267,000 after acquiring an additional 23,501 shares during the period. Institutional investors own 4.89% of the company’s stock.

A number of brokerages recently issued reports on GGB. ValuEngine upgraded Gerdau from a “sell” rating to a “hold” rating in a research note on Thursday, December 7th. Zacks Investment Research upgraded Gerdau from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research note on Thursday, August 17th. Bank of America upgraded Gerdau from a “neutral” rating to a “buy” rating and set a $4.00 price objective on the stock in a research note on Monday, November 27th. Finally, Santander upgraded Gerdau from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Gerdau presently has an average rating of “Hold” and a consensus target price of $4.13.

Shares of Gerdau SA (NYSE GGB) traded up $0.11 during trading on Wednesday, reaching $3.62. The company had a trading volume of 5,982,000 shares, compared to its average volume of 8,155,511. Gerdau SA has a fifty-two week low of $2.60 and a fifty-two week high of $4.39. The company has a market cap of $6,036.00, a PE ratio of 20.65 and a beta of 2.27. The company has a quick ratio of 1.16, a current ratio of 1.89 and a debt-to-equity ratio of 0.57.

The business also recently declared a None dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 24th were given a dividend of $0.007 per share. The ex-dividend date of this dividend was Wednesday, November 22nd. This is a boost from Gerdau’s previous None dividend of $0.01. This represents a dividend yield of 0.8%. Gerdau’s dividend payout ratio is currently -3.33%.

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About Gerdau

Gerdau SA (Gerdau) is a manufacturer of long steel in the North and South America. The Company is engaged in the production and commercialization of steel products in general, through its mills located in Argentina, Brazil, Canada, Chile, Colombia, Spain, the United States, Guatemala, India, Mexico, Peru, the Dominican Republic, Uruguay and Venezuela.

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Institutional Ownership by Quarter for Gerdau (NYSE:GGB)

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