UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Holdings in Gerdau S.A. (NYSE:GGB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Gerdau S.A. (NYSE:GGB - Free Report) by 307.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,037,480 shares of the basic materials company's stock after purchasing an additional 782,980 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's holdings in Gerdau were worth $3,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the business. FMR LLC lifted its position in shares of Gerdau by 11.1% in the 3rd quarter. FMR LLC now owns 88,979,025 shares of the basic materials company's stock worth $311,427,000 after purchasing an additional 8,898,975 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Gerdau during the 3rd quarter valued at about $29,750,000. Marshall Wace LLP raised its position in Gerdau by 1,988.2% during the 2nd quarter. Marshall Wace LLP now owns 6,186,152 shares of the basic materials company's stock worth $20,414,000 after buying an additional 5,889,913 shares during the last quarter. Acadian Asset Management LLC lifted its position in Gerdau by 48.1% during 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. Finally, Dimensional Fund Advisors LP boosted its stake 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 worth $52,825,000 after buying an additional 2,100,969 shares during the last quarter. Institutional investors own 1.49% of the company's stock.

Gerdau Price Performance

Shares of GGB stock traded down $0.15 during trading hours on Friday, hitting $3.25. 26,828,948 shares of the company's stock were exchanged, compared to its average volume of 8,559,326. The firm has a market cap of $6.76 billion, a P/E ratio of 7.11 and a beta of 1.73. The firm has a 50 day moving average of $3.35 and a two-hundred day moving average of $3.30. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. Gerdau S.A. has a fifty-two week low of $2.92 and a fifty-two week high of $4.10.

Gerdau Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, November 21st will be issued a $0.0528 dividend. This represents a $0.21 dividend on an annualized basis and a dividend yield of 6.50%. This is a positive change from Gerdau's previous quarterly dividend of $0.00. The ex-dividend date is Thursday, November 21st. Gerdau's dividend payout ratio (DPR) is presently 43.64%.

About Gerdau

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.