Two Sigma Advisers LP Acquires 4,565,900 Shares of Gerdau S.A. (NYSE:GGB)

Two Sigma Advisers LP grew its position in Gerdau S.A. (NYSE:GGB - Free Report) by 298.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,097,460 shares of the basic materials company's stock after buying an additional 4,565,900 shares during the period. Two Sigma Advisers LP owned 0.29% of Gerdau worth $21,341,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in GGB. Blue Trust Inc. grew its position in shares of Gerdau by 132.8% in the 3rd quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company's stock valued at $29,000 after buying an additional 4,952 shares during the last quarter. Insight 2811 Inc. purchased a new stake in shares of Gerdau during the second quarter worth about $36,000. HighTower Advisors LLC purchased a new stake in Gerdau in the third quarter valued at approximately $38,000. Wedbush Securities Inc. purchased a new stake in Gerdau in the second quarter valued at approximately $38,000. Finally, Absolute Gestao de Investimentos Ltda. purchased a new stake in Gerdau during the second quarter worth approximately $46,000. 1.49% of the stock is currently owned by institutional investors and hedge funds.

Gerdau Stock Down 3.2 %

Shares of NYSE GGB traded down $0.11 during trading on Friday, reaching $3.35. 7,175,539 shares of the stock were exchanged, compared to its average volume of 9,404,027. The company has a market capitalization of $6.96 billion, a price-to-earnings ratio of 7.31 and a beta of 1.73. The business's 50-day moving average price is $3.35 and its 200 day moving average price is $3.31. The company has a quick ratio of 1.53, a current ratio of 2.98 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 declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, November 21st will be given a dividend of $0.0528 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.21 annualized dividend and a dividend yield of 6.31%. This is a positive change from Gerdau's previous quarterly dividend of $0.00. Gerdau's dividend payout ratio is currently 43.64%.

Gerdau 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.