MQS Management LLC Makes New Investment in Gerdau S.A. $GGB

MQS Management LLC purchased a new position in Gerdau S.A. (NYSE:GGB) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 117,779 shares of the basic materials company’s stock, valued at approximately $365,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Gerdau by 68.9% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,634 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 3,931 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Gerdau by 95.3% in the second quarter. EverSource Wealth Advisors LLC now owns 10,687 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 5,216 shares during the last quarter. Wealthstream Advisors Inc. purchased a new position in Gerdau in the 3rd quarter worth about $32,000. Regatta Capital Group LLC purchased a new stake in Gerdau in the 3rd quarter valued at about $47,000. Finally, XTX Topco Ltd purchased a new stake in Gerdau in the 2nd quarter valued at about $47,000. 1.49% of the stock is owned by institutional investors.

Gerdau Trading Up 2.9%

NYSE GGB opened at $4.37 on Thursday. Gerdau S.A. has a 52 week low of $2.27 and a 52 week high of $4.66. The company has a 50 day moving average price of $3.98 and a 200 day moving average price of $3.49. The company has a quick ratio of 1.47, a current ratio of 2.70 and a debt-to-equity ratio of 0.30. The firm has a market cap of $8.72 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.20 and a beta of 1.46.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group reiterated a “buy” rating and issued a $4.60 price target (up previously from $4.00) on shares of Gerdau in a report on Monday, December 15th. Zacks Research raised Gerdau from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 18th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Gerdau in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $4.60.

About Gerdau

Gerdau SA is a Brazilian-based steel producer engaged in the manufacture and distribution of long steel products for the construction, industrial and agricultural sectors. Established in 1901, the company operates an integrated network of electric-arc furnaces and rolling mills, producing reinforcement bars, wire rod, merchant bars and structural shapes. Gerdau’s product portfolio also includes specialty long steel, high-yield reinforcement, rail, beams and steel coils, as well as value-added processing services such as cutting, bending and coating.

The company has expanded its footprint beyond Brazil, with significant operations in North America, South America and a presence in select European markets.