Public Employees Retirement System of Ohio Invests $1.74 Million in Gerdau S.A. (NYSE:GGB)

Public Employees Retirement System of Ohio purchased a new position in Gerdau S.A. (NYSE:GGB - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 497,319 shares of the basic materials company's stock, valued at approximately $1,741,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Blue Trust Inc. boosted its position in Gerdau by 132.8% during the third quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company's stock worth $29,000 after acquiring an additional 4,952 shares during the last quarter. Insight 2811 Inc. purchased a new position in shares of Gerdau during the 2nd quarter worth $36,000. Wedbush Securities Inc. acquired a new stake in shares of Gerdau during the second quarter worth $38,000. HighTower Advisors LLC purchased a new stake in shares of Gerdau in the third quarter valued at $38,000. Finally, Absolute Gestao de Investimentos Ltda. acquired a new position in Gerdau in the second quarter valued at $46,000. 1.49% of the stock is currently owned by hedge funds and other institutional investors.

Gerdau Trading Up 0.6 %

NYSE GGB traded up $0.02 during trading hours on Thursday, hitting $3.11. 17,807,143 shares of the company's stock were exchanged, compared to its average volume of 8,675,087. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.98. The firm has a market capitalization of $6.47 billion, a P/E ratio of 6.79 and a beta of 1.73. The business's 50 day moving average is $3.32 and its 200-day moving average is $3.29. Gerdau S.A. has a 12-month low of $2.92 and a 12-month high of $4.10.

Gerdau Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.0528 per share. This is a positive change from Gerdau's previous quarterly dividend of $0.00. This represents a $0.21 annualized dividend and a dividend yield of 6.79%. The ex-dividend date is Thursday, November 21st. Gerdau's dividend payout ratio is presently 43.48%.

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.