Macquarie Group Ltd. decreased its stake in shares of Gerdau SA (NYSE:GGB) by 8.8% during the second quarter, Holdings Channel reports. The institutional investor owned 457,900 shares of the company’s stock after selling 44,200 shares during the period. Macquarie Group Ltd.’s holdings in Gerdau SA were worth $833,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. World Asset Management Inc raised its stake in Gerdau SA by 7.5% in the second quarter. World Asset Management Inc now owns 71,360 shares of the company’s stock valued at $130,000 after buying an additional 4,969 shares in the last quarter. Nwam LLC raised its stake in Gerdau SA by 7.5% in the second quarter. Nwam LLC now owns 139,170 shares of the company’s stock valued at $253,000 after buying an additional 9,725 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Gerdau SA by 35.3% in the second quarter. Tower Research Capital LLC TRC now owns 56,486 shares of the company’s stock valued at $103,000 after buying an additional 14,750 shares in the last quarter. Panagora Asset Management Inc. raised its stake in Gerdau SA by 1.0% in the first quarter. Panagora Asset Management Inc. now owns 2,545,735 shares of the company’s stock valued at $4,532,000 after buying an additional 25,345 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its stake in Gerdau SA by 10.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 543,277 shares of the company’s stock valued at $989,000 after buying an additional 51,587 shares in the last quarter. Institutional investors own 6.08% of the company’s stock.

Shares of Gerdau SA (NYSE:GGB) opened at 2.67 on Friday. Gerdau SA has a 52-week low of $0.79 and a 52-week high of $3.19. The company’s 50 day moving average price is $2.78 and its 200 day moving average price is $2.08. The company’s market capitalization is $4.59 billion.

The company also recently declared a dividend, which was paid on Monday, September 12th. Investors of record on Thursday, August 25th were paid a dividend of $0.008 per share. The ex-dividend date of this dividend was Tuesday, August 23rd. Gerdau SA’s payout ratio is presently -2.53%.

Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Gerdau SA from a “hold” rating to a “buy” rating and set a $3.00 price target on the stock in a research report on Thursday, August 11th. Credit Suisse Group AG upgraded Gerdau SA from a “neutral” rating to an “outperform” rating in a research report on Thursday, August 4th. Finally, Morgan Stanley upgraded Gerdau SA from an “equal weight” rating to an “overweight” rating in a research report on Thursday, August 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $3.00.

Gerdau SA Company Profile

Gerdau SA (Gerdau) is a producer of long rolled steel. The Company operates in five segments: Brazil (Brazil Business Operation), which includes the steel operations in Brazil (except special steel) and the metallurgical and coking coal operation in Colombia; North America (North America Business Operation), which includes all North American operations, except Mexico and special steel; Latin America (Latin America Business Operation), which includes all Latin American operations, except the operations in Brazil and the metallurgical and coking coal operations in Colombia; Special Steel (Special Steel Business Operation), which includes the special steel operations in Brazil, Spain, the United States and India, and Iron Ore (Iron Ore Business Operation), which includes the iron ore operations in Brazil.

5 Day Chart for NYSE:GGB

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