Hennion & Walsh Asset Management Inc. Sells 96,511 Shares of Gerdau S.A. (NYSE:GGB)

Hennion & Walsh Asset Management Inc. reduced its stake in shares of Gerdau S.A. (NYSE:GGB - Free Report) by 17.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 446,062 shares of the basic materials company's stock after selling 96,511 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Gerdau were worth $1,285,000 as of its most recent filing with the SEC.

Other large investors have also recently added to or reduced their stakes 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 worth $2,477,000 after buying an additional 199,033 shares during the last quarter. Marshall Wace LLP increased its stake in shares of 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 purchasing an additional 5,889,913 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 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 valued at $3,631,000 after purchasing an additional 782,980 shares in the last quarter. Walleye Capital LLC lifted its stake in shares of Gerdau by 42.3% in the 3rd quarter. Walleye Capital LLC now owns 1,295,926 shares of the basic materials company's stock valued at $4,536,000 after purchasing an additional 385,535 shares during the last quarter. Finally, Two Sigma Advisers LP increased its position in Gerdau by 298.1% during the third quarter. Two Sigma Advisers LP now owns 6,097,460 shares of the basic materials company's stock worth $21,341,000 after buying an additional 4,565,900 shares during the last quarter. Institutional investors and hedge funds own 1.49% of the company's stock.

Gerdau Stock Up 0.5 %

NYSE GGB traded up $0.02 during trading on Friday, hitting $2.84. 15,201,608 shares of the company traded hands, compared to its average volume of 8,803,218. The company has a market capitalization of $5.89 billion, a P/E ratio of 6.19 and a beta of 1.73. The business has a fifty day simple moving average of $3.18 and a 200 day simple moving average of $3.25. Gerdau S.A. has a 12 month low of $2.67 and a 12 month high of $4.04. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, November 21st were issued a $0.0528 dividend. This is a positive change from Gerdau's previous quarterly dividend of $0.00. This represents a $0.21 annualized dividend and a yield of 7.45%. The ex-dividend date was Thursday, November 21st. Gerdau's payout ratio is 41.45%.

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.