Gerdau S.A. (NYSE:GGB) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its holdings in Gerdau S.A. (NYSE:GGB) by 4.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,049,390 shares of the basic materials company’s stock after selling 50,547 shares during the period. Van ECK Associates Corp owned approximately 0.05% of Gerdau worth $3,022,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. FMR LLC lifted its stake in shares of Gerdau by 11.1% in the 3rd quarter. FMR LLC now owns 88,979,025 shares of the basic materials company’s stock valued at $311,427,000 after purchasing an additional 8,898,975 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Gerdau during the 3rd quarter worth about $29,750,000. Two Sigma Advisers LP lifted its stake in Gerdau by 298.1% during the 3rd quarter. Two Sigma Advisers LP now owns 6,097,460 shares of the basic materials company’s stock worth $21,341,000 after acquiring an additional 4,565,900 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Gerdau by 0.3% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 3,332,715 shares of the basic materials company’s stock worth $11,665,000 after acquiring an additional 11,428 shares in the last quarter. Finally, Itau Unibanco Holding S.A. lifted its stake in Gerdau by 170.0% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 2,887,200 shares of the basic materials company’s stock worth $10,105,000 after acquiring an additional 1,817,800 shares in the last quarter. Institutional investors and hedge funds own 1.49% of the company’s stock.

Gerdau Price Performance

GGB opened at $2.90 on Friday. The stock’s 50-day moving average price is $2.96 and its 200 day moving average price is $3.19. Gerdau S.A. has a 12-month low of $2.67 and a 12-month high of $4.04. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 6.32 and a beta of 1.73.

Gerdau (NYSE:GGB) last posted its earnings results on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. Gerdau had a return on equity of 7.86% and a net margin of 7.47%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.66 billion. As a group, sell-side analysts expect that Gerdau S.A. will post 0.39 earnings per share for the current year.

Gerdau Company Profile

Gerdau SA, together with its subsidiaries, operates as a steel producer company. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It also provides semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles to the construction and manufacturing industries; drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, construction, and agricultural industries; and special steel products used in auto parts, light and heavy vehicles, and agricultural machinery, as well as in the oil and gas, wind energy, machinery and equipment, mining and rail, and other markets.