Gerdau S.A. (NYSE:GGB) Shares Sold by SPX Gestao de Recursos Ltda

SPX Gestao de Recursos Ltda lessened its stake in Gerdau S.A. (NYSE:GGB) by 57.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 945,138 shares of the basic materials company’s stock after selling 1,257,332 shares during the quarter. SPX Gestao de Recursos Ltda’s holdings in Gerdau were worth $3,308,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. QRG Capital Management Inc. raised its position in shares of Gerdau by 5.5% during the 2nd quarter. QRG Capital Management Inc. now owns 70,404 shares of the basic materials company’s stock worth $232,000 after purchasing an additional 3,640 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Gerdau by 27.6% during the second quarter. Sequoia Financial Advisors LLC now owns 30,308 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 6,558 shares during the period. Diversified Trust Co lifted its holdings in shares of Gerdau by 20.0% during the second quarter. Diversified Trust Co now owns 41,560 shares of the basic materials company’s stock valued at $137,000 after purchasing an additional 6,926 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Gerdau by 19.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 549,441 shares of the basic materials company’s stock valued at $1,813,000 after purchasing an additional 87,961 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Gerdau by 52.7% in the second quarter. Bank of New York Mellon Corp now owns 284,272 shares of the basic materials company’s stock worth $938,000 after buying an additional 98,126 shares during the period. 1.49% of the stock is owned by institutional investors.

Gerdau Stock Down 1.2 %

Shares of Gerdau stock traded down $0.04 during midday trading on Friday, hitting $3.36. The company’s stock had a trading volume of 887,119 shares, compared to its average volume of 8,449,757. Gerdau S.A. has a 1-year low of $2.92 and a 1-year high of $4.10. The firm has a market capitalization of $6.98 billion, a P/E ratio of 7.43 and a beta of 1.73. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. The stock has a 50-day simple moving average of $3.35 and a 200-day simple moving average of $3.30.

Gerdau Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, November 21st will be paid a $0.0528 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.21 dividend on an annualized basis and a yield of 6.29%. This is an increase from Gerdau’s previous quarterly dividend of $0.00. Gerdau’s payout ratio is 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.