Cubist Systematic Strategies LLC Sells 127,545 Shares of Gerdau S.A. (NYSE:GGB)

Cubist Systematic Strategies LLC decreased its position in Gerdau S.A. (NYSE:GGB) by 17.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 606,679 shares of the basic materials company’s stock after selling 127,545 shares during the period. Cubist Systematic Strategies LLC’s holdings in Gerdau were worth $2,002,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Insight 2811 Inc. bought a new position in Gerdau during the 2nd quarter valued at about $36,000. Wedbush Securities Inc. bought a new position in Gerdau during the 2nd quarter valued at about $38,000. Ballentine Partners LLC bought a new position in Gerdau during the 1st quarter valued at about $44,000. Prosperity Consulting Group LLC bought a new position in Gerdau during the 1st quarter valued at about $53,000. Finally, KCM Investment Advisors LLC bought a new position in Gerdau during the 1st quarter valued at about $54,000. Institutional investors own 1.49% of the company’s stock.

Gerdau Price Performance

GGB opened at $3.50 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.36 and a current ratio of 2.83. The stock has a market capitalization of $7.38 billion, a P/E ratio of 5.74 and a beta of 1.74. The company’s 50-day simple moving average is $3.25 and its two-hundred day simple moving average is $3.38. Gerdau S.A. has a 52-week low of $2.92 and a 52-week high of $4.21.

Gerdau (NYSE:GGB) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. Gerdau had a net margin of 7.88% and a return on equity of 8.43%. The business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.01 billion. As a group, analysts predict that Gerdau S.A. will post 0.53 EPS for the current year.

Gerdau Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 6.29%. The ex-dividend date of this dividend was Tuesday, August 13th. This is a boost from Gerdau’s previous quarterly dividend of $0.06. Gerdau’s dividend payout ratio is 13.11%.

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.