Deprince Race & Zollo Inc. reduced its stake in shares of Gerdau SA (NYSE:GGB) by 22.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,048,000 shares of the basic materials company’s stock after selling 309,620 shares during the period. Deprince Race & Zollo Inc. owned 0.06% of Gerdau worth $4,066,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Nuveen Asset Management LLC acquired a new position in shares of Gerdau during the 4th quarter worth approximately $49,000. GSA Capital Partners LLP acquired a new position in shares of Gerdau during the 4th quarter worth approximately $72,000. First Trust Advisors LP acquired a new position in shares of Gerdau during the 4th quarter worth approximately $92,000. NEXT Financial Group Inc raised its position in shares of Gerdau by 9.5% during the 4th quarter. NEXT Financial Group Inc now owns 34,500 shares of the basic materials company’s stock worth $130,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Gerdau during the 4th quarter worth approximately $144,000. Hedge funds and other institutional investors own 7.44% of the company’s stock.

Shares of GGB opened at $3.81 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.06 and a quick ratio of 0.98. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 42.33, a price-to-earnings-growth ratio of 1.32 and a beta of 2.01. Gerdau SA has a fifty-two week low of $3.37 and a fifty-two week high of $5.09.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were issued a $0.0268 dividend. The ex-dividend date was Friday, March 8th. This is an increase from Gerdau’s previous quarterly dividend of $0.01. This represents a $0.11 annualized dividend and a yield of 2.81%. Gerdau’s payout ratio is 111.11%.

Several research analysts recently issued reports on the company. Zacks Investment Research downgraded Gerdau from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. ValuEngine downgraded Gerdau from a “hold” rating to a “sell” rating in a research report on Tuesday, February 19th. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Gerdau presently has a consensus rating of “Hold” and an average target price of $4.50.

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Gerdau 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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