Blue Trust Inc. Increases Holdings in Gerdau S.A. (NYSE:GGB)

Blue Trust Inc. increased its holdings in shares of Gerdau S.A. (NYSE:GGB) by 132.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,681 shares of the basic materials company’s stock after purchasing an additional 4,952 shares during the period. Blue Trust Inc.’s holdings in Gerdau were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in GGB. Marshall Wace LLP boosted its position in Gerdau by 1,988.2% during the 2nd quarter. Marshall Wace LLP now owns 6,186,152 shares of the basic materials company’s stock worth $20,414,000 after purchasing an additional 5,889,913 shares during the period. Acadian Asset Management LLC boosted its position in Gerdau by 48.1% during the 2nd quarter. Acadian Asset Management LLC now owns 13,391,548 shares of the basic materials company’s stock worth $44,181,000 after purchasing an additional 4,351,666 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Gerdau by 15.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 16,005,117 shares of the basic materials company’s stock worth $52,825,000 after buying an additional 2,100,969 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Gerdau in the 2nd quarter worth $6,085,000. Finally, Oaktree Fund Advisors LLC acquired a new position in Gerdau in the 2nd quarter worth $2,148,000. 1.49% of the stock is owned by hedge funds and other institutional investors.

Gerdau Stock Performance

Shares of GGB stock opened at $3.08 on Friday. Gerdau S.A. has a 12 month low of $2.92 and a 12 month high of $4.21. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.83 and a quick ratio of 1.36. The firm has a market capitalization of $6.49 billion, a P/E ratio of 6.31 and a beta of 1.75. The company’s fifty day moving average price is $3.30 and its two-hundred day moving average price is $3.32.

Gerdau (NYSE:GGB) last issued its quarterly earnings data 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 firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.01 billion. On average, research analysts anticipate that Gerdau S.A. will post 0.58 earnings per share for the current fiscal year.

About Gerdau

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.