Virtus Family Office LLC Has $1.78 Million Stock Holdings in Gerdau S.A. $GGB

Virtus Family Office LLC raised its stake in Gerdau S.A. (NYSE:GGB) by 27.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 575,069 shares of the basic materials company’s stock after buying an additional 123,911 shares during the quarter. Gerdau comprises approximately 1.7% of Virtus Family Office LLC’s investment portfolio, making the stock its 18th biggest holding. Virtus Family Office LLC’s holdings in Gerdau were worth $1,783,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GGB. Robeco Institutional Asset Management B.V. raised its position in Gerdau by 314.9% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 262,341 shares of the basic materials company’s stock valued at $813,000 after buying an additional 199,115 shares during the last quarter. Donald Smith & CO. Inc. bought a new position in Gerdau in the second quarter valued at approximately $17,440,000. Kapitalo Investimentos Ltda acquired a new stake in Gerdau in the third quarter valued at $5,958,000. Banco BTG Pactual S.A. grew its holdings in Gerdau by 329.9% during the second quarter. Banco BTG Pactual S.A. now owns 261,800 shares of the basic materials company’s stock worth $764,000 after purchasing an additional 200,900 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Gerdau by 6.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,349 shares of the basic materials company’s stock valued at $208,000 after acquiring an additional 4,227 shares during the period. Institutional investors own 1.49% of the company’s stock.

Analysts Set New Price Targets

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. UBS Group reaffirmed a “buy” rating and issued a $4.60 target price (up previously from $4.00) on shares of Gerdau in a research report on Monday, December 15th. Finally, Zacks Research upgraded Gerdau from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 18th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Gerdau has a consensus rating of “Hold” and an average price target of $4.60.

Gerdau Price Performance

Shares of Gerdau stock traded up $0.02 on Friday, reaching $4.20. 1,032,191 shares of the stock were exchanged, compared to its average volume of 18,174,113. Gerdau S.A. has a one year low of $2.27 and a one year high of $4.66. The firm has a market cap of $8.38 billion, a PE ratio of 15.57, a P/E/G ratio of 1.21 and a beta of 1.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.47 and a current ratio of 2.70. The firm’s 50 day moving average is $3.92 and its 200-day moving average is $3.45.

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.