QRG Capital Management Inc. Boosts Holdings in Gerdau S.A. (NYSE:GGB)

QRG Capital Management Inc. increased its holdings in shares of Gerdau S.A. (NYSE:GGB) by 168.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,476 shares of the basic materials company’s stock after buying an additional 77,451 shares during the period. QRG Capital Management Inc.’s holdings in Gerdau were worth $351,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Private Advisor Group LLC acquired a new position in shares of Gerdau in the fourth quarter worth $32,000. Wealthfront Advisers LLC purchased a new position in Gerdau in the fourth quarter valued at $32,000. Wolverine Trading LLC acquired a new position in Gerdau during the 4th quarter worth $37,000. Carrera Capital Advisors purchased a new stake in Gerdau during the 4th quarter worth about $40,000. Finally, Raymond James Financial Inc. purchased a new stake in Gerdau during the 4th quarter worth about $65,000. 1.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GGB has been the subject of several recent research reports. Bank of America reiterated a “neutral” rating on shares of Gerdau in a research note on Monday, April 7th. UBS Group upgraded shares of Gerdau from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $2.90 to $3.80 in a research note on Monday, June 9th.

Gerdau Price Performance

Gerdau stock opened at $2.90 on Tuesday. The company has a current ratio of 2.64, a quick ratio of 1.28 and a debt-to-equity ratio of 0.24. The company has a fifty day simple moving average of $2.75 and a 200-day simple moving average of $2.86. The stock has a market cap of $6.03 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 2.86 and a beta of 1.38. Gerdau S.A. has a 12-month low of $2.27 and a 12-month high of $3.62.

Gerdau Increases Dividend

The firm also recently declared a dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were paid a $0.0188 dividend. The ex-dividend date was Monday, May 12th. This is a boost from Gerdau’s previous dividend of $0.00. This represents a yield of 2.95%. Gerdau’s dividend payout ratio (DPR) is currently 27.59%.

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.