NEXT Financial Group Inc Acquires 3,000 Shares of Gerdau SA (NYSE:GGB)

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NEXT Financial Group Inc boosted its holdings in shares of Gerdau SA (NYSE:GGB) by 9.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,500 shares of the basic materials company’s stock after purchasing an additional 3,000 shares during the period. NEXT Financial Group Inc’s holdings in Gerdau were worth $134,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eqis Capital Management Inc. bought a new stake in Gerdau during the first quarter worth $45,000. Millennium Management LLC lifted its stake in Gerdau by 300.2% during the fourth quarter. Millennium Management LLC now owns 674,560 shares of the basic materials company’s stock worth $2,536,000 after purchasing an additional 506,018 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Gerdau by 42.9% during the first quarter. BNP Paribas Arbitrage SA now owns 290,726 shares of the basic materials company’s stock worth $1,128,000 after purchasing an additional 87,310 shares during the last quarter. NumerixS Investment Technologies Inc lifted its stake in Gerdau by 312.2% during the first quarter. NumerixS Investment Technologies Inc now owns 303,400 shares of the basic materials company’s stock worth $1,156,000 after purchasing an additional 229,800 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its stake in Gerdau by 161.8% during the fourth quarter. Two Sigma Advisers LP now owns 202,400 shares of the basic materials company’s stock worth $761,000 after purchasing an additional 125,100 shares during the last quarter. Hedge funds and other institutional investors own 7.15% of the company’s stock.

Several equities research analysts have weighed in on the company. TheStreet upgraded Gerdau from a “c” rating to a “b-” rating in a research note on Tuesday, June 4th. Zacks Investment Research upgraded Gerdau from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Finally, ValuEngine upgraded Gerdau from a “sell” rating to a “hold” 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 currently has a consensus rating of “Buy” and an average target price of $4.50.

Shares of GGB opened at $3.28 on Wednesday. Gerdau SA has a 52 week low of $3.20 and a 52 week high of $4.71. The company has a market cap of $5.92 billion, a PE ratio of 8.82, a price-to-earnings-growth ratio of 3.28 and a beta of 1.83. The company has a quick ratio of 0.88, a current ratio of 1.89 and a debt-to-equity ratio of 0.48. The firm has a fifty day moving average price of $3.77.

Gerdau (NYSE:GGB) last announced its quarterly earnings results on Wednesday, May 8th. The basic materials company reported $0.07 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.01). Gerdau had a net margin of 5.03% and a return on equity of 9.49%. The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.86 billion. On average, research analysts anticipate that Gerdau SA will post 0.34 earnings per share for the current fiscal year.

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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