Nordea Investment Management AB Boosts Holdings in Gerdau SA (NYSE:GGB)

Nordea Investment Management AB grew its stake in shares of Gerdau SA (NYSE:GGB) by 134.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 804,700 shares of the basic materials company’s stock after acquiring an additional 461,800 shares during the period. Nordea Investment Management AB’s holdings in Gerdau were worth $3,122,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Eqis Capital Management Inc. acquired a new position in shares of Gerdau during the first quarter valued at about $45,000. Nuveen Asset Management LLC acquired a new position in shares of Gerdau during the fourth quarter valued at about $49,000. GSA Capital Partners LLP acquired a new position in shares of Gerdau during the fourth quarter valued at about $72,000. First Trust Advisors LP acquired a new position in Gerdau in the fourth quarter worth about $92,000. Finally, NEXT Financial Group Inc raised its position in Gerdau by 9.5% in the fourth 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 in the last quarter. Hedge funds and other institutional investors own 7.09% of the company’s stock.

Shares of GGB traded down $0.01 during mid-day trading on Thursday, hitting $3.83. 4,487,200 shares of the company traded hands, compared to its average volume of 10,164,931. Gerdau SA has a one year low of $3.28 and a one year high of $4.71. The stock has a market capitalization of $6.64 billion, a PE ratio of 9.58, a price-to-earnings-growth ratio of 3.34 and a beta of 1.83. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.89 and a quick ratio of 0.88. The business has a 50-day simple moving average of $3.77.

Gerdau (NYSE:GGB) last posted its earnings results on Wednesday, May 8th. The basic materials company reported $0.07 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.01). Gerdau had a return on equity of 9.49% and a net margin of 5.03%. The firm had revenue of $2.66 billion during the quarter, compared to analyst estimates of $2.86 billion. As a group, analysts anticipate that Gerdau SA will post 0.37 EPS for the current year.

Several research firms recently issued reports on GGB. TheStreet lowered shares of TIM Participacoes from a “b” rating to a “c+” rating in a research report on Tuesday, June 4th. Zacks Investment Research raised shares of Gerdau from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Finally, ValuEngine raised shares of Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $4.50.

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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