Gerdau S.A. (NYSE:GGB) Stock Holdings Lessened by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda cut its stake in shares of Gerdau S.A. (NYSE:GGB - Free Report) by 57.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 945,138 shares of the basic materials company's stock after selling 1,257,332 shares during the period. SPX Gestao de Recursos Ltda's holdings in Gerdau were worth $3,308,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hsbc Holdings PLC grew its stake in shares of Gerdau by 36.1% during the second quarter. Hsbc Holdings PLC now owns 750,612 shares of the basic materials company's stock valued at $2,477,000 after acquiring an additional 199,033 shares in the last quarter. Marshall Wace LLP grew its stake 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 valued at $20,414,000 after purchasing an additional 5,889,913 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Gerdau by 307.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,037,480 shares of the basic materials company's stock worth $3,631,000 after purchasing an additional 782,980 shares during the last quarter. Walleye Capital LLC increased its holdings in Gerdau by 42.3% during the 3rd quarter. Walleye Capital LLC now owns 1,295,926 shares of the basic materials company's stock worth $4,536,000 after purchasing an additional 385,535 shares during the last quarter. Finally, Oaktree Fund Advisors LLC acquired a new position in shares of Gerdau in the 2nd quarter valued at approximately $2,148,000. Hedge funds and other institutional investors own 1.49% of the company's stock.

Gerdau Stock Down 4.1 %

Shares of GGB stock traded down $0.14 during mid-day trading on Friday, reaching $3.26. 26,828,950 shares of the company were exchanged, compared to its average volume of 8,559,326. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.98. The business's 50 day simple moving average is $3.35 and its 200 day simple moving average is $3.30. The company has a market capitalization of $6.78 billion, a P/E ratio of 7.09 and a beta of 1.73. 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. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.0528 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.21 annualized dividend and a yield of 6.48%. This is a boost from Gerdau's previous quarterly dividend of $0.00. Gerdau's dividend payout ratio is presently 43.48%.

Gerdau 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.