AQR Capital Management LLC Has $5.63 Million Stock Holdings in Gerdau S.A. (NYSE:GGB)

AQR Capital Management LLC lessened its stake in shares of Gerdau S.A. (NYSE:GGB - Free Report) by 38.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,706,708 shares of the basic materials company's stock after selling 1,069,836 shares during the period. AQR Capital Management LLC owned about 0.08% of Gerdau worth $5,632,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Marshall Wace LLP raised its holdings in shares of Gerdau by 1,988.2% during 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 acquiring an additional 5,889,913 shares during the period. Acadian Asset Management LLC raised its stake in Gerdau by 48.1% during the 2nd quarter. Acadian Asset Management LLC now owns 13,391,548 shares of the basic materials company's stock valued at $44,181,000 after purchasing an additional 4,351,666 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Gerdau by 15.1% in the second quarter. Dimensional Fund Advisors LP now owns 16,005,117 shares of the basic materials company's stock valued at $52,825,000 after purchasing an additional 2,100,969 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Gerdau in the second quarter worth $6,085,000. Finally, Oaktree Fund Advisors LLC purchased a new position in shares of Gerdau during the second quarter valued at $2,148,000. 1.49% of the stock is owned by hedge funds and other institutional investors.

Gerdau Stock Up 1.4 %

Gerdau stock traded up $0.05 during mid-day trading on Friday, hitting $3.50. The company's stock had a trading volume of 5,371,844 shares, compared to its average volume of 7,784,271. Gerdau S.A. has a 52-week low of $2.92 and a 52-week high of $4.21. The company has a market cap of $7.38 billion, a PE ratio of 5.74 and a beta of 1.74. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.83 and a quick ratio of 1.36. The firm's 50 day moving average is $3.28 and its 200 day moving average is $3.38.

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 for the quarter, compared to the consensus estimate of $3.01 billion. On average, analysts anticipate that Gerdau S.A. will post 0.53 earnings per share for the current year.

Gerdau Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were given a $0.055 dividend. This is a positive change from Gerdau's previous quarterly dividend of $0.06. This represents a $0.22 annualized dividend and a yield of 6.29%. The ex-dividend date of this dividend was Tuesday, August 13th. Gerdau's dividend payout ratio is presently 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.