MQS Management LLC Invests $365,000 in Gerdau S.A. $GGB

MQS Management LLC acquired a new stake in shares of Gerdau S.A. (NYSE:GGB) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 117,779 shares of the basic materials company’s stock, valued at approximately $365,000.

Other large investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 valued at $28,000 after purchasing an additional 3,931 shares in the last quarter. EverSource Wealth Advisors LLC increased 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 valued at $31,000 after purchasing an additional 5,216 shares during the period. Wealthstream Advisors Inc. purchased a new position in shares of Gerdau in the third quarter worth about $32,000. Regatta Capital Group LLC acquired a new stake in shares of Gerdau during the third quarter worth about $47,000. Finally, XTX Topco Ltd acquired a new stake in shares of Gerdau during the second quarter worth about $47,000. Hedge funds and other institutional investors own 1.49% of the company’s stock.

Wall Street Analyst Weigh In

GGB has been the topic of a number of research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Gerdau in a research note on Monday, December 29th. Zacks Research raised shares of Gerdau from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 18th. Finally, UBS Group reiterated a “buy” rating and set a $4.60 price objective (up previously from $4.00) on shares of Gerdau in a research note on Monday, December 15th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.60.

Gerdau Stock Performance

NYSE GGB opened at $4.37 on Thursday. The stock has a market capitalization of $8.72 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 1.20 and a beta of 1.46. Gerdau S.A. has a twelve month low of $2.27 and a twelve month high of $4.66. The company has a current ratio of 2.70, a quick ratio of 1.47 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average of $3.98 and a 200 day moving average of $3.49.

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.