IMG Wealth Management Inc. Buys Shares of 30,928 Gerdau S.A. (NYSE:GGB)

IMG Wealth Management Inc. bought a new stake in Gerdau S.A. (NYSE:GGB) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 30,928 shares of the basic materials company’s stock, valued at approximately $89,000.

Other hedge funds also recently added to or reduced their stakes in the company. Caprock Group LLC increased its stake in shares of Gerdau by 161.9% during the 3rd quarter. Caprock Group LLC now owns 105,013 shares of the basic materials company’s stock worth $368,000 after purchasing an additional 64,923 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Gerdau during the 3rd quarter worth approximately $926,000. West Family Investments Inc. purchased a new position in shares of Gerdau during the 3rd quarter worth approximately $85,000. Daiwa Securities Group Inc. increased its stake in shares of Gerdau by 6.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 309,558 shares of the basic materials company’s stock worth $1,083,000 after purchasing an additional 20,000 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Gerdau during the 3rd quarter worth approximately $79,000. 1.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, UBS Group initiated coverage on shares of Gerdau in a research note on Wednesday, March 12th. They set a “neutral” rating for the company.

Gerdau Stock Up 5.2 %

GGB stock opened at $2.95 on Monday. The stock has a market capitalization of $6.12 billion, a P/E ratio of 6.85 and a beta of 1.69. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.98. Gerdau S.A. has a one year low of $2.67 and a one year high of $4.04. The company has a 50 day moving average price of $2.91 and a two-hundred day moving average price of $3.15.

Gerdau (NYSE:GGB) last released its earnings results on Wednesday, February 19th. The basic materials company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Gerdau had a net margin of 7.03% and a return on equity of 7.74%. As a group, sell-side analysts expect that Gerdau S.A. will post 0.46 EPS for the current year.

Gerdau Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be issued a $0.0175 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 2.38%. Gerdau’s dividend payout ratio (DPR) is presently 13.95%.

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.