Stratos Wealth Partners LTD. maintained its stake in Gerdau S.A. (NYSE:GGB) during the second quarter, Holdings Channel reports. The firm owned 150,000 shares of the basic materials company’s stock at the end of the second quarter. Stratos Wealth Partners LTD.’s holdings in Gerdau were worth $458,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. IPG Investment Advisors LLC raised its stake in Gerdau by 2.6% in the second quarter. IPG Investment Advisors LLC now owns 58,500 shares of the basic materials company’s stock valued at $178,000 after buying an additional 1,500 shares during the last quarter. Strs Ohio boosted its position in shares of Gerdau by 50.0% in the second quarter. Strs Ohio now owns 144,000 shares of the basic materials company’s stock valued at $439,000 after buying an additional 48,000 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Gerdau by 7.6% in the second quarter. Russell Investments Group Ltd. now owns 4,664,486 shares of the basic materials company’s stock valued at $14,227,000 after buying an additional 331,440 shares during the period. Aperio Group LLC boosted its position in shares of Gerdau by 38.4% in the second quarter. Aperio Group LLC now owns 116,078 shares of the basic materials company’s stock valued at $354,000 after buying an additional 32,213 shares during the period. Finally, Credit Suisse AG boosted its position in shares of Gerdau by 22.0% in the first quarter. Credit Suisse AG now owns 3,295,645 shares of the basic materials company’s stock valued at $11,370,000 after buying an additional 594,247 shares during the period. 4.95% of the stock is currently owned by institutional investors and hedge funds.

Gerdau S.A. (NYSE:GGB) opened at 3.68 on Tuesday. Gerdau S.A. has a one year low of $2.19 and a one year high of $4.39. The firm has a 50-day moving average of $3.14 and a 200 day moving average of $3.41. The stock’s market capitalization is $6.29 billion.

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GGB has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Gerdau from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a report on Tuesday, June 27th. BidaskClub raised shares of Gerdau from a “hold” rating to a “buy” rating in a report on Tuesday, July 11th. Finally, Scotiabank raised shares of Gerdau from an “underperform” rating to a “sector perform” rating in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $3.25.

About Gerdau

Gerdau SA (Gerdau) is a manufacturer of long steel in the North and South America. The Company is engaged in the production and commercialization of steel products in general, through its mills located in Argentina, Brazil, Canada, Chile, Colombia, Spain, the United States, Guatemala, India, Mexico, Peru, the Dominican Republic, Uruguay and Venezuela.

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Institutional Ownership by Quarter for Gerdau (NYSE:GGB)

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