Fidelity Management & Research Co recently announced the acquisition of new stake in Gerdau S.A. ADR (NYSE:GGB). The institutional investor has increased its shareholding in the Basic Materials company by 187,190.55% to 16.47 million shares with purchase of 16.46 million shares. This fresh investment now brings its stake to 1.42% valued currently at $79.87 million. In addition, Dimensional Fund Advisors LP raised its holdings by 31027.0 to 14.01 million shares. And Arrowstreet Capital LP has lifted its position by 1,349.51% or 11.94 million shares – to 12.83 million shares.
Currently, there are 1.15B common shares owned by the public and among those 1.15B shares have been available to trade.
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The top 3 mutual fund holders in Gerdau S.A. ADR are American Funds New Perspective Fu, American Funds New World Fund, and Capital Income Builder. American Funds New Perspective Fu owns 41.24 million shares of the company’s stock, all valued at over $200.03 million. Capital Income Builder bought 1.78 million shares to bring its total holdings to over 11.12 million shares at a value of $53.92 million. Capital Income Builder now owns shares totaling to 0.96% of the shares outstanding.
The company’s stock has a 5-day price change of 2.63% and -1.83% over the past three months. GGB shares are trading -11.34% year to date (YTD), with the 12-month market performance down to -29.64% lower. It has a 12-month low price of $4.15 and touched a high of $6.16 over the same period. GGB has an average intraday trading volume of 5.69 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.41%, -6.98%, and -12.66% respectively.
Institutional ownership of Gerdau S.A. ADR (NYSE: GGB) shares accounts for 25.04% of the company’s 1.15B shares outstanding. Mutual fund holders own 10.39%, while other institutional holders and individual stakeholders account for 14.57% and — respectively.
It has a market capitalization of $4.94B and a beta (3y monthly) value of 1.71. The stock’s trailing 12-month PE ratio is 4.72, while the earnings-per-share (ttm) stands at $0.91. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.89% over the week and 2.01% over the month.
Analysts forecast that Gerdau S.A. ADR (GGB) will achieve an EPS of $0.12 for the current quarter, $0 for the next quarter and $0.47 for 2024. The lowest estimate earnings-per-share for the quarter is $0.12 while analysts give the company a high EPS estimate of $0.12. Comparatively, EPS for the current quarter was $0.38 a year ago. Earnings per share for the fiscal year are expected to decrease by -31.93%, and -37.42% over the next financial year.
