Sequoia Financial Advisors LLC Trims Stock Holdings in Gerdau S.A. (NYSE:GGB)

Sequoia Financial Advisors LLC lessened its stake in shares of Gerdau S.A. (NYSE:GGB) by 12.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,499 shares of the basic materials company’s stock after selling 3,809 shares during the period. Sequoia Financial Advisors LLC’s holdings in Gerdau were worth $93,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of Gerdau by 132.8% during the 3rd quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 4,952 shares in the last quarter. Insight 2811 Inc. acquired a new position in shares of Gerdau in the 2nd quarter valued at $36,000. Wedbush Securities Inc. acquired a new position in Gerdau in the 2nd quarter worth about $38,000. Prosperity Consulting Group LLC acquired a new stake in Gerdau in the 1st quarter valued at $53,000. Finally, KCM Investment Advisors LLC purchased a new position in Gerdau in the 1st quarter valued at about $54,000. Institutional investors own 1.49% of the company’s stock.

Gerdau Trading Down 0.6 %

Shares of GGB opened at $3.16 on Thursday. Gerdau S.A. has a 52-week low of $2.92 and a 52-week high of $4.21. The stock has a market cap of $6.66 billion, a PE ratio of 5.18 and a beta of 1.74. The company has a quick ratio of 1.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.21. The firm’s fifty day moving average is $3.31 and its two-hundred day moving average is $3.33.

Gerdau (NYSE:GGB) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Gerdau had a net margin of 7.88% and a return on equity of 8.43%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.01 billion. Research analysts forecast that Gerdau S.A. will post 0.6 earnings per share for the current fiscal year.

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.