Bank of New York Mellon Corp Grows Stock Position in Gerdau S.A. (NYSE:GGB)

Bank of New York Mellon Corp increased its holdings in Gerdau S.A. (NYSE:GGB) by 52.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 284,272 shares of the basic materials company’s stock after buying an additional 98,126 shares during the quarter. Bank of New York Mellon Corp’s holdings in Gerdau were worth $938,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. QRG Capital Management Inc. raised its position in Gerdau by 5.5% in the second quarter. QRG Capital Management Inc. now owns 70,404 shares of the basic materials company’s stock worth $232,000 after acquiring an additional 3,640 shares during the period. Inspire Advisors LLC lifted its position in Gerdau by 16.0% during the first quarter. Inspire Advisors LLC now owns 33,987 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 4,678 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Gerdau by 27.6% during the second quarter. Sequoia Financial Advisors LLC now owns 30,308 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 6,558 shares during the period. Parallel Advisors LLC increased its position in Gerdau by 66.2% in the fourth quarter. Parallel Advisors LLC now owns 17,344 shares of the basic materials company’s stock worth $84,000 after buying an additional 6,909 shares in the last quarter. Finally, Diversified Trust Co raised its stake in shares of Gerdau by 20.0% in the second quarter. Diversified Trust Co now owns 41,560 shares of the basic materials company’s stock worth $137,000 after buying an additional 6,926 shares during the period. 1.49% of the stock is currently owned by institutional investors.

Gerdau Stock Down 4.7 %

GGB stock opened at $3.26 on Friday. The business’s 50-day moving average price is $3.26 and its 200-day moving average price is $3.39. The stock has a market cap of $6.87 billion, a P/E ratio of 5.34 and a beta of 1.74. The company has a quick ratio of 1.36, a current ratio of 2.83 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 $4.21.

Gerdau (NYSE:GGB) last issued its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. The business had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.01 billion. Gerdau had a net margin of 7.88% and a return on equity of 8.43%. On average, equities research analysts forecast that Gerdau S.A. will post 0.53 EPS for the current year.

Gerdau Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a dividend of $0.055 per share. This is a boost from Gerdau’s previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, August 13th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 6.75%. Gerdau’s payout ratio is 13.11%.

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.