Sei Investments Co. Buys 213,291 Shares of Gerdau S.A. (NYSE:GGB)

Sei Investments Co. increased its holdings in shares of Gerdau S.A. (NYSE:GGB - Free Report) by 18.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,369,547 shares of the basic materials company's stock after buying an additional 213,291 shares during the quarter. Sei Investments Co. owned 0.06% of Gerdau worth $4,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GGB. Ballentine Partners LLC acquired a new position in shares of Gerdau in the 1st quarter valued at about $44,000. Insight 2811 Inc. acquired a new position in Gerdau in the second quarter valued at approximately $36,000. Wedbush Securities Inc. acquired a new position in Gerdau during the second quarter worth $38,000. Prosperity Consulting Group LLC acquired a new position in Gerdau during the first quarter worth $53,000. Finally, KCM Investment Advisors LLC acquired a new position in Gerdau during the first quarter worth $54,000. 1.49% of the stock is currently owned by hedge funds and other institutional investors.

Gerdau Stock Up 0.9 %

NYSE:GGB traded up $0.03 during trading hours on Wednesday, hitting $3.53. The company's stock had a trading volume of 8,915,608 shares, compared to its average volume of 7,799,418. The stock has a market capitalization of $7.44 billion, a P/E ratio of 5.79 and a beta of 1.74. The stock has a fifty day moving average of $3.26 and a 200-day moving average of $3.38. The company has a current ratio of 2.83, a quick ratio of 1.36 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 $4.21.

Gerdau (NYSE:GGB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.09 EPS for the quarter, beating analysts' consensus estimates of $0.07 by $0.02. Gerdau had a net margin of 7.88% and a return on equity of 8.43%. The firm had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.01 billion. On average, equities analysts forecast that Gerdau S.A. will post 0.53 earnings per share for the current year.

Gerdau Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.055 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This is a boost from Gerdau's previous quarterly dividend of $0.06. This represents a $0.22 annualized dividend and a dividend yield of 6.23%. Gerdau's payout ratio is currently 13.11%.

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.