Gerdau SA (NYSE:GGB) Shares Sold by Profund Advisors LLC

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Profund Advisors LLC reduced its position in shares of Gerdau SA (NYSE:GGB) by 7.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 98,005 shares of the basic materials company’s stock after selling 7,960 shares during the period. Profund Advisors LLC’s holdings in Gerdau were worth $381,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Cadence Capital Management LLC purchased a new position in Gerdau in the 2nd quarter worth about $49,000. Wells Fargo & Company MN increased its stake in Gerdau by 2,993.8% in the 2nd quarter. Wells Fargo & Company MN now owns 15,500 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 14,999 shares in the last quarter. NEXT Financial Group Inc increased its stake in Gerdau by 9.5% in the 2nd quarter. NEXT Financial Group Inc now owns 34,500 shares of the basic materials company’s stock worth $134,000 after purchasing an additional 3,000 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Gerdau by 194.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 54,500 shares of the basic materials company’s stock worth $212,000 after purchasing an additional 36,000 shares in the last quarter. Finally, Atria Investments LLC purchased a new position in Gerdau in the 2nd quarter worth about $213,000. 8.50% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on GGB shares. TheStreet cut Gerdau from a “b-” rating to a “c+” rating in a research note on Friday, August 30th. ValuEngine raised Gerdau from a “sell” rating to a “hold” rating in a research note on Thursday, June 27th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $4.50.

GGB traded down $0.08 during trading on Friday, reaching $3.10. The company had a trading volume of 9,433,007 shares, compared to its average volume of 10,402,650. The firm’s 50-day simple moving average is $3.14 and its 200 day simple moving average is $3.60. The company has a market cap of $5.54 billion, a price-to-earnings ratio of 7.75 and a beta of 1.90. Gerdau SA has a 12-month low of $2.73 and a 12-month high of $4.71. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.95 and a current ratio of 2.19.

Gerdau (NYSE:GGB) last issued its quarterly earnings results on Wednesday, August 7th. The basic materials company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Gerdau had a return on equity of 7.97% and a net margin of 4.50%. On average, sell-side analysts expect that Gerdau SA will post 0.3 EPS for the current year.

Gerdau Company 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.

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Institutional Ownership by Quarter for Gerdau (NYSE:GGB)

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