Gerdau S.A. (NYSE:GGB) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lessened its stake in shares of Gerdau S.A. (NYSE:GGB - Free Report) by 41.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 237,182 shares of the basic materials company's stock after selling 169,504 shares during the period. Quantbot Technologies LP's holdings in Gerdau were worth $830,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC grew its holdings in shares of Gerdau by 11.1% during the 3rd quarter. FMR LLC now owns 88,979,025 shares of the basic materials company's stock worth $311,427,000 after acquiring an additional 8,898,975 shares during the period. Marshall Wace LLP lifted its holdings in Gerdau by 1,988.2% during the second quarter. Marshall Wace LLP now owns 6,186,152 shares of the basic materials company's stock valued at $20,414,000 after purchasing an additional 5,889,913 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Gerdau by 48.1% in the 2nd quarter. Acadian Asset Management LLC now owns 13,391,548 shares of the basic materials company's stock worth $44,181,000 after purchasing an additional 4,351,666 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Gerdau by 15.1% during the 2nd 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 in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Gerdau in the 2nd quarter worth approximately $6,085,000. 1.49% of the stock is owned by hedge funds and other institutional investors.

Gerdau Trading Up 0.6 %

Shares of NYSE GGB traded up $0.02 during mid-day trading on Monday, reaching $3.38. The company had a trading volume of 8,878,589 shares, compared to its average volume of 8,431,889. The business's 50-day moving average is $3.35 and its 200-day moving average is $3.32. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. Gerdau S.A. has a 52 week low of $2.92 and a 52 week high of $4.10. The stock has a market cap of $7.03 billion, a price-to-earnings ratio of 7.28 and a beta of 1.75.

Gerdau Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, November 21st will be given a $0.0528 dividend. This represents a $0.21 annualized dividend and a dividend yield of 6.25%. 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 presently 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.