SPX Gestao de Recursos Ltda Buys 169,730 Shares of Gerdau S.A. (NYSE:GGB)

SPX Gestao de Recursos Ltda grew its position in Gerdau S.A. (NYSE:GGB - Free Report) by 8.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,202,470 shares of the basic materials company's stock after acquiring an additional 169,730 shares during the quarter. Gerdau accounts for about 1.1% of SPX Gestao de Recursos Ltda's holdings, making the stock its 21st largest position. SPX Gestao de Recursos Ltda owned 0.10% of Gerdau worth $7,268,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Insight 2811 Inc. bought a new position in Gerdau in the second quarter worth $36,000. Wedbush Securities Inc. bought a new position in shares of Gerdau during the 2nd quarter worth about $38,000. Ballentine Partners LLC acquired a new stake in shares of Gerdau during the 1st quarter valued at about $44,000. Absolute Gestao de Investimentos Ltda. bought a new stake in Gerdau in the second quarter valued at about $46,000. Finally, Prosperity Consulting Group LLC acquired a new position in Gerdau in the first quarter worth about $53,000. Institutional investors and hedge funds own 1.49% of the company's stock.

Gerdau Stock Performance

NYSE GGB remained flat at $3.50 during trading on Tuesday. The company's stock had a trading volume of 5,783,182 shares, compared to its average volume of 7,793,511. Gerdau S.A. has a 12 month low of $2.92 and a 12 month high of $4.21. The firm has a market capitalization of $7.38 billion, a P/E ratio of 5.74 and a beta of 1.74. The stock has a fifty day moving average price of $3.26 and a 200 day moving average price of $3.38. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.36 and a current ratio of 2.83.

Gerdau (NYSE:GGB - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. Gerdau had a return on equity of 8.43% and a net margin of 7.88%. The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.01 billion. Equities research analysts expect that Gerdau S.A. will post 0.53 EPS for the current fiscal year.

Gerdau Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were given a dividend of $0.055 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 6.29%. This is a boost from Gerdau's previous quarterly dividend of $0.06. Gerdau's dividend payout ratio (DPR) is 13.11%.

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.