Walleye Capital LLC Acquires 385,535 Shares of Gerdau S.A. (NYSE:GGB)

Walleye Capital LLC raised its holdings in Gerdau S.A. (NYSE:GGB - Free Report) by 42.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,295,926 shares of the basic materials company's stock after acquiring an additional 385,535 shares during the quarter. Walleye Capital LLC owned 0.06% of Gerdau worth $4,536,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in GGB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Gerdau by 307.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,037,480 shares of the basic materials company's stock valued at $3,631,000 after buying an additional 782,980 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Gerdau in the 3rd quarter valued at approximately $29,750,000. FMR LLC raised its position in shares of Gerdau by 11.1% in the 3rd quarter. FMR LLC now owns 88,979,025 shares of the basic materials company's stock valued at $311,427,000 after purchasing an additional 8,898,975 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Gerdau in the 3rd quarter valued at approximately $79,000. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Gerdau by 6.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 309,558 shares of the basic materials company's stock valued at $1,083,000 after acquiring an additional 20,000 shares during the last quarter. Institutional investors and hedge funds own 1.49% of the company's stock.

Gerdau Stock Performance

Shares of NYSE:GGB traded up $0.04 on Monday, hitting $3.40. The company's stock had a trading volume of 12,504,167 shares, compared to its average volume of 8,450,207. 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 company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 7.38 and a beta of 1.75. The stock's 50-day moving average is $3.35 and its two-hundred day moving average is $3.31. Gerdau S.A. has a 12 month low of $2.92 and a 12 month high of $4.10.

Gerdau Increases Dividend

The company 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 represents a $0.21 annualized dividend and a dividend yield of 6.22%. The ex-dividend date is Thursday, November 21st. This is a positive change from Gerdau's previous quarterly dividend of $0.00. Gerdau's dividend payout ratio (DPR) 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.