Gerdau S.A. (NYSE:GGB) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd cut its position in Gerdau S.A. (NYSE:GGB - Free Report) by 55.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 250,014 shares of the basic materials company's stock after selling 313,837 shares during the quarter. Quadrature Capital Ltd's holdings in Gerdau were worth $875,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. FMR LLC increased its holdings in Gerdau by 11.1% during the 3rd quarter. FMR LLC now owns 88,979,025 shares of the basic materials company's stock worth $311,427,000 after purchasing an additional 8,898,975 shares during the last quarter. Dimensional Fund Advisors LP increased its stake 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 worth $52,825,000 after buying an additional 2,100,969 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Gerdau by 48.1% in 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 buying an additional 4,351,666 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Gerdau in the third quarter valued at $29,750,000. Finally, Marshall Wace LLP boosted its stake in Gerdau by 1,988.2% during the 2nd 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. 1.49% of the stock is owned by institutional investors and hedge funds.

Gerdau Stock Down 3.2 %

GGB stock traded down $0.11 during mid-day trading on Friday, hitting $3.35. 7,175,539 shares of the company were exchanged, compared to its average volume of 9,404,027. The company has a market capitalization of $6.96 billion, a PE ratio of 7.31 and a beta of 1.73. The firm has a fifty day simple moving average of $3.35 and a 200 day simple moving average of $3.31. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. Gerdau S.A. has a twelve month low of $2.92 and a twelve month high of $4.10.

Gerdau Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.0528 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.21 annualized dividend and a yield of 6.31%. This is a boost from Gerdau's previous quarterly dividend of $0.00. Gerdau's dividend payout ratio is presently 43.64%.

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.