Gerdau S.A. (NYSE:GGB) Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its holdings in Gerdau S.A. (NYSE:GGB) by 6.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 309,558 shares of the basic materials company’s stock after purchasing an additional 20,000 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Gerdau were worth $1,083,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Marshall Wace LLP boosted its holdings in shares of Gerdau by 1,988.2% in 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 buying an additional 5,889,913 shares during the period. Acadian Asset Management LLC lifted its holdings in 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 acquiring an additional 4,351,666 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in 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 valued at $52,825,000 after acquiring an additional 2,100,969 shares during the period. Renaissance Technologies LLC bought a new position in shares of Gerdau during the second quarter valued at approximately $6,085,000. Finally, Oaktree Fund Advisors LLC acquired a new stake in shares of Gerdau during the 2nd quarter worth approximately $2,148,000. Institutional investors own 1.49% of the company’s stock.

Gerdau Trading Down 1.6 %

NYSE:GGB opened at $3.36 on Friday. The firm has a market capitalization of $6.97 billion, a P/E ratio of 7.32 and a beta of 1.75. The business has a 50 day simple moving average of $3.35 and a 200 day simple moving average of $3.32. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53. 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 declared 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 is an increase from Gerdau’s previous quarterly dividend of $0.00. The ex-dividend date is Thursday, November 21st. This represents a $0.21 annualized dividend and a dividend yield of 6.30%. Gerdau’s payout ratio is 43.64%.

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.