Gerdau SA (GGB) Shares Bought by NEXT Financial Group Inc

NEXT Financial Group Inc increased its position in Gerdau SA (NYSE:GGB) by 9.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 34,500 shares of the basic materials company’s stock after purchasing an additional 3,000 shares during the period. NEXT Financial Group Inc’s holdings in Gerdau were worth $130,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Virtu Financial LLC lifted its position in shares of Gerdau by 10.5% in the fourth quarter. Virtu Financial LLC now owns 66,014 shares of the basic materials company’s stock worth $248,000 after buying an additional 6,253 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of Gerdau by 16.2% in the third quarter. Crossmark Global Holdings Inc. now owns 93,019 shares of the basic materials company’s stock worth $392,000 after buying an additional 12,980 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Gerdau in the fourth quarter worth about $92,000. Northern Trust Corp lifted its position in shares of Gerdau by 7.7% in the second quarter. Northern Trust Corp now owns 969,501 shares of the basic materials company’s stock worth $3,432,000 after buying an additional 69,268 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Gerdau by 3.7% in the third quarter. Bank of New York Mellon Corp now owns 2,063,258 shares of the basic materials company’s stock worth $8,687,000 after buying an additional 72,739 shares in the last quarter. Institutional investors own 4.76% of the company’s stock.

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Shares of GGB stock opened at $3.92 on Thursday. Gerdau SA has a 1 year low of $3.37 and a 1 year high of $5.13. The company has a current ratio of 2.42, a quick ratio of 1.43 and a debt-to-equity ratio of 0.60. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 43.56, a P/E/G ratio of 0.32 and a beta of 1.95.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Monday, March 11th will be given a dividend of $0.0268 per share. The ex-dividend date of this dividend is Friday, March 8th. This is an increase from Gerdau’s previous quarterly dividend of $0.01. This represents a $0.11 dividend on an annualized basis and a yield of 2.74%. Gerdau’s dividend payout ratio is 144.44%.

A number of equities research analysts recently commented on the company. Zacks Investment Research downgraded Gerdau from a “hold” rating to a “sell” rating in a research report on Wednesday, February 20th. ValuEngine downgraded Gerdau from a “hold” rating to a “sell” rating in a research report on Tuesday, February 19th. Scotiabank upgraded Gerdau from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, December 18th. Finally, Goldman Sachs Group assumed coverage on Gerdau in a research report on Thursday, December 13th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $4.50.

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Gerdau Profile

Gerdau SA provides steel-related products and services worldwide. It operates through four segments: Brazil Operations, North America Operations, South America Operations, and Special Steel Operations. The company offers semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles, which are used primarily in the construction and manufacturing industries; and drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire meshes, nails, and clamps, as well as mines and produces iron ore.

Read More: Why is the ex-dividend date different from the record date?

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