QRG Capital Management Inc. Cuts Stock Position in Gerdau S.A. (NYSE:GGB)

QRG Capital Management Inc. reduced its position in Gerdau S.A. (NYSE:GGB) by 33.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,025 shares of the basic materials company’s stock after selling 23,405 shares during the quarter. QRG Capital Management Inc.’s holdings in Gerdau were worth $133,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Advisor Group LLC purchased a new stake in Gerdau during the 4th quarter valued at about $32,000. Zhang Financial LLC purchased a new stake in Gerdau during the 4th quarter valued at about $34,000. R Squared Ltd purchased a new stake in Gerdau during the 4th quarter valued at about $36,000. Rehmann Capital Advisory Group purchased a new stake in Gerdau during the 3rd quarter valued at about $37,000. Finally, HighTower Advisors LLC purchased a new stake in Gerdau during the 3rd quarter valued at about $38,000. 1.49% of the stock is currently owned by hedge funds and other institutional investors.

Gerdau Trading Down 0.2 %

Shares of GGB stock opened at $2.95 on Friday. The stock has a market capitalization of $6.12 billion, a PE ratio of 6.85 and a beta of 1.69. Gerdau S.A. has a 1-year low of $2.67 and a 1-year high of $4.04. The business has a 50-day moving average of $2.91 and a 200 day moving average of $3.17. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53.

Gerdau (NYSE:GGB) last issued its earnings results on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. The company had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Gerdau had a return on equity of 7.74% and a net margin of 7.03%. As a group, sell-side analysts anticipate that Gerdau S.A. will post 0.46 earnings per share for the current year.

Gerdau Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a dividend of $0.0175 per share. This represents a $0.07 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date is Friday, March 7th. Gerdau’s payout ratio is 13.95%.

Gerdau 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.