Mackenzie Financial Corp Sells 1,232,481 Shares of Gerdau S.A. (NYSE:GGB)

Mackenzie Financial Corp lowered its holdings in Gerdau S.A. (NYSE:GGB - Free Report) by 98.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,608 shares of the basic materials company's stock after selling 1,232,481 shares during the period. Mackenzie Financial Corp's holdings in Gerdau were worth $68,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GGB. Capital International Investors raised its stake in shares of Gerdau by 0.4% during the 1st quarter. Capital International Investors now owns 92,086,997 shares of the basic materials company's stock worth $407,025,000 after purchasing an additional 378,125 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Gerdau by 15.1% during the second quarter. Dimensional Fund Advisors LP now owns 16,005,117 shares of the basic materials company's stock worth $52,825,000 after buying an additional 2,100,969 shares during the last quarter. Acadian Asset Management LLC raised its position in Gerdau by 48.1% during the second quarter. Acadian Asset Management LLC now owns 13,391,548 shares of the basic materials company's stock worth $44,181,000 after acquiring an additional 4,351,666 shares in the last quarter. Marshall Wace LLP lifted its stake 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 acquiring an additional 5,889,913 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Gerdau by 27.9% in the 2nd quarter. American Century Companies Inc. now owns 2,752,405 shares of the basic materials company's stock valued at $9,083,000 after acquiring an additional 599,700 shares during the period. 1.49% of the stock is currently owned by institutional investors and hedge funds.

Gerdau Stock Performance

Shares of Gerdau stock traded down $0.04 during trading on Wednesday, hitting $3.43. 8,278,939 shares of the stock were exchanged, compared to its average volume of 7,892,106. Gerdau S.A. has a 1-year low of $2.92 and a 1-year high of $4.21. The stock has a market capitalization of $7.22 billion, a price-to-earnings ratio of 5.61 and a beta of 1.74. The company has a fifty day moving average price of $3.29 and a 200-day moving average price 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 (NYSE:GGB - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.09 earnings per share (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 firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.01 billion. As a group, equities analysts predict that Gerdau S.A. will post 0.53 EPS for the current fiscal year.

Gerdau Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a dividend of $0.055 per share. This is an increase from Gerdau's previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.22 annualized dividend and a yield of 6.42%. Gerdau's dividend payout ratio (DPR) 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.