CIBC World Markets Inc. held its position in Gerdau S.A. (NYSE:GGB) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,500 shares of the basic materials company’s stock at the close of the second quarter. CIBC World Markets Inc.’s holdings in Gerdau were worth $154,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Private Advisor Group LLC bought a new position in Gerdau in the second quarter valued at $253,000. JPMorgan Chase & Co. lifted its stake in Gerdau by 18.1% in the second quarter. JPMorgan Chase & Co. now owns 6,863,955 shares of the basic materials company’s stock valued at $20,934,000 after acquiring an additional 1,052,535 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its stake in Gerdau by 32.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 305,584 shares of the basic materials company’s stock valued at $932,000 after acquiring an additional 74,974 shares during the last quarter. Airain ltd acquired a new stake in Gerdau in the second quarter valued at $213,000. Finally, BNP Paribas Arbitrage SA lifted its stake in Gerdau by 48.6% in the second quarter. BNP Paribas Arbitrage SA now owns 1,126,770 shares of the basic materials company’s stock valued at $3,437,000 after acquiring an additional 368,677 shares during the last quarter. 5.32% of the stock is owned by institutional investors and hedge funds.

Shares of Gerdau S.A. (NYSE GGB) opened at 3.56 on Monday. Gerdau S.A. has a 52 week low of $2.57 and a 52 week high of $4.39. The firm has a 50-day moving average of $3.66 and a 200-day moving average of $3.32. The firm’s market cap is $6.08 billion.

The business also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Thursday, August 24th were issued a $0.005 dividend. This represents a $0.02 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Tuesday, August 22nd. Gerdau’s dividend payout ratio (DPR) is currently -3.23%.

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A number of analysts have commented on the stock. Zacks Investment Research upgraded shares of Gerdau from a “hold” rating to a “buy” rating and set a $4.00 price target for the company in a research note on Monday, August 28th. BidaskClub upgraded shares of Gerdau from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. Scotiabank upgraded shares of Gerdau from an “underperform” rating to a “sector perform” rating in a research note on Friday, June 9th. Santander upgraded shares of Gerdau from a “hold” rating to a “buy” rating in a research note on Tuesday, September 12th. Finally, Credit Suisse Group cut shares of Gerdau from an “outperform” rating to a “neutral” rating in a research note on Thursday, September 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. Gerdau has a consensus rating of “Hold” and an average target price of $4.25.

Gerdau Company Profile

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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