B. Metzler seel. Sohn & Co. Holding AG Acquires Shares of 264,560 Gerdau S.A. (NYSE:GGB)

B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Gerdau S.A. (NYSE:GGB - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 264,560 shares of the basic materials company's stock, valued at approximately $926,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marshall Wace LLP increased its holdings in shares of Gerdau by 1,988.2% in the 2nd quarter. Marshall Wace LLP now owns 6,186,152 shares of the basic materials company's stock valued at $20,414,000 after acquiring an additional 5,889,913 shares during the period. Acadian Asset Management LLC increased its stake in Gerdau by 48.1% in the second quarter. Acadian Asset Management LLC now owns 13,391,548 shares of the basic materials company's stock valued at $44,181,000 after purchasing an additional 4,351,666 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Gerdau by 15.1% in the second quarter. Dimensional Fund Advisors LP now owns 16,005,117 shares of the basic materials company's stock valued at $52,825,000 after buying an additional 2,100,969 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Gerdau during the second quarter worth about $6,085,000. Finally, Oaktree Fund Advisors LLC purchased a new position in shares of Gerdau during the second quarter worth about $2,148,000. Hedge funds and other institutional investors own 1.49% of the company's stock.

Gerdau Price Performance

GGB remained flat at $3.39 on Friday. The company's stock had a trading volume of 3,945,122 shares, compared to its average volume of 12,101,802. Gerdau S.A. has a 12-month low of $2.92 and a 12-month high of $4.10. The stock's 50-day moving average is $3.34 and its 200 day moving average is $3.33. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53. The firm has a market cap of $7.05 billion, a PE ratio of 7.37 and a beta of 1.75.

Gerdau Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.0528 per share. This represents a $0.21 annualized dividend and a dividend yield of 6.23%. The ex-dividend date is Thursday, November 21st. This is a boost from Gerdau's previous quarterly dividend of $0.00. Gerdau's dividend payout ratio is 43.48%.

Gerdau Company Profile

Gerdau SA, together with its subsidiaries, operates as a steel producer company. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It also provides semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles to the construction and manufacturing industries; drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, construction, and agricultural industries; and special steel products used in auto parts, light and heavy vehicles, and agricultural machinery, as well as in the oil and gas, wind energy, machinery and equipment, mining and rail, and other markets.