Healthcare of Ontario Pension Plan Trust Fund Takes $29.75 Million Position in Gerdau S.A. (NYSE:GGB)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake 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 and Exchange Commission (SEC). The institutional investor purchased 8,500,000 shares of the basic materials company's stock, valued at approximately $29,750,000. Healthcare of Ontario Pension Plan Trust Fund owned 0.40% of Gerdau as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Hsbc Holdings PLC increased its holdings in Gerdau by 36.1% in the second quarter. Hsbc Holdings PLC now owns 750,612 shares of the basic materials company's stock valued at $2,477,000 after purchasing an additional 199,033 shares during the last quarter. Marshall Wace LLP increased its holdings in Gerdau by 1,988.2% in 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 during the last quarter. Oaktree Fund Advisors LLC bought a new stake in Gerdau in the second quarter valued at about $2,148,000. SPX Gestao de Recursos Ltda increased its holdings in Gerdau by 8.3% in the second quarter. SPX Gestao de Recursos Ltda now owns 2,202,470 shares of the basic materials company's stock valued at $7,268,000 after purchasing an additional 169,730 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Gerdau by 27.9% in the second quarter. American Century Companies Inc. now owns 2,752,405 shares of the basic materials company's stock valued at $9,083,000 after purchasing an additional 599,700 shares during the last quarter. Institutional investors and hedge funds own 1.49% of the company's stock.

Gerdau Trading Down 0.6 %

NYSE GGB traded down $0.02 on Thursday, reaching $3.41. The company had a trading volume of 18,419,953 shares, compared to its average volume of 8,433,010. Gerdau S.A. has a 52 week low of $2.92 and a 52 week high of $4.10. The stock's 50 day moving average is $3.34 and its 200-day moving average is $3.32. The stock has a market cap of $7.09 billion, a price-to-earnings ratio of 7.44 and a beta of 1.75. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, November 21st will be issued a $0.0528 dividend. This is an increase from Gerdau's previous quarterly dividend of $0.00. This represents a $0.21 annualized dividend and a dividend yield of 6.19%. The ex-dividend date is Thursday, November 21st. Gerdau's dividend payout ratio is 43.64%.

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.