Gerdau S.A. (NYSE:GGB) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp decreased its holdings in Gerdau S.A. (NYSE:GGB - Free Report) by 16.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,099,937 shares of the basic materials company's stock after selling 224,144 shares during the period. Van ECK Associates Corp owned about 0.05% of Gerdau worth $3,850,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its position in shares of Gerdau by 132.8% during the 3rd quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company's stock worth $29,000 after purchasing an additional 4,952 shares during the last quarter. Insight 2811 Inc. purchased a new stake in shares of Gerdau during the 2nd quarter worth $36,000. Wedbush Securities Inc. purchased a new stake in shares of Gerdau during the 2nd quarter worth $38,000. Absolute Gestao de Investimentos Ltda. purchased a new stake in shares of Gerdau during the 2nd quarter worth $46,000. Finally, KCM Investment Advisors LLC purchased a new stake in shares of Gerdau during the 1st quarter worth $54,000. Institutional investors and hedge funds own 1.49% of the company's stock.

Gerdau Stock Performance

GGB traded down $0.04 on Friday, reaching $3.57. The company had a trading volume of 15,045,881 shares, compared to its average volume of 12,762,135. 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 $7.53 billion, a PE ratio of 7.79 and a beta of 1.75. The company has a quick ratio of 1.36, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average price of $3.31 and a 200-day moving average price of $3.33.

Gerdau Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, November 21st will be issued a $0.0528 dividend. This represents a $0.21 dividend on an annualized basis and a dividend yield of 5.92%. This is a boost from Gerdau's previous quarterly dividend of $0.00. The ex-dividend date of this dividend is Thursday, November 21st. Gerdau's dividend payout ratio is presently 19.64%.

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.