Corient Capital Partners LLC Makes New $41,000 Investment in Gerdau SA (NYSE:GGB)

Corient Capital Partners LLC purchased a new position in Gerdau SA (NYSE:GGB) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 13,035 shares of the basic materials company’s stock, valued at approximately $41,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its holdings in Gerdau by 94.8% in the 2nd quarter. Jane Street Group LLC now owns 262,375 shares of the basic materials company’s stock worth $1,020,000 after acquiring an additional 127,683 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Gerdau by 194.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 54,500 shares of the basic materials company’s stock worth $212,000 after acquiring an additional 36,000 shares during the period. CoreCommodity Management LLC boosted its holdings in Gerdau by 480.3% in the 2nd quarter. CoreCommodity Management LLC now owns 453,425 shares of the basic materials company’s stock worth $1,764,000 after acquiring an additional 375,293 shares during the period. Wetherby Asset Management Inc. purchased a new position in Gerdau in the 3rd quarter worth approximately $74,000. Finally, Atria Investments LLC purchased a new position in Gerdau in the 2nd quarter worth approximately $213,000. Hedge funds and other institutional investors own 8.76% of the company’s stock.

Several equities analysts have recently commented on GGB shares. ValuEngine upgraded Gerdau from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. TheStreet cut Gerdau from a “b-” rating to a “c+” rating in a research note on Friday, August 30th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $4.50.

Gerdau stock opened at $3.68 on Monday. The stock has a market cap of $6.24 billion, a P/E ratio of 15.13 and a beta of 1.88. The company has a current ratio of 2.13, a quick ratio of 1.03 and a debt-to-equity ratio of 0.50. The stock has a 50 day moving average of $3.28 and a 200-day moving average of $3.42. Gerdau SA has a 52 week low of $2.73 and a 52 week high of $4.39.

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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