Truist Financial Corp Buys 15,984 Shares of Gerdau S.A. (NYSE:GGB)

Truist Financial Corp grew its position in Gerdau S.A. (NYSE:GGB) by 21.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 89,100 shares of the basic materials company’s stock after acquiring an additional 15,984 shares during the period. Truist Financial Corp’s holdings in Gerdau were worth $294,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of GGB. Capital International Investors increased its holdings in Gerdau by 0.4% in the 1st quarter. Capital International Investors now owns 92,086,997 shares of the basic materials company’s stock worth $407,025,000 after purchasing an additional 378,125 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Gerdau by 15.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 16,005,117 shares of the basic materials company’s stock valued at $52,825,000 after buying an additional 2,100,969 shares during the last quarter. Acadian Asset Management LLC boosted its position in Gerdau by 48.1% during the 2nd quarter. Acadian Asset Management LLC now owns 13,391,548 shares of the basic materials company’s stock worth $44,181,000 after buying an additional 4,351,666 shares during the period. Marshall Wace LLP grew its holdings in Gerdau by 1,988.2% during the 2nd quarter. Marshall Wace LLP now owns 6,186,152 shares of the basic materials company’s stock worth $20,414,000 after acquiring an additional 5,889,913 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Gerdau by 27.9% in the 2nd quarter. American Century Companies Inc. now owns 2,752,405 shares of the basic materials company’s stock valued at $9,083,000 after acquiring an additional 599,700 shares during the period. 1.49% of the stock is currently owned by institutional investors.

Gerdau Price Performance

GGB stock opened at $3.19 on Friday. The company has a market capitalization of $6.73 billion, a P/E ratio of 5.23 and a beta of 1.74. The company has a fifty day moving average price of $3.32 and a 200-day moving average price of $3.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.36 and a current ratio of 2.83. Gerdau S.A. has a 52-week low of $2.92 and a 52-week high of $4.21.

Gerdau (NYSE:GGB) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. Gerdau had a return on equity of 8.43% and a net margin of 7.88%. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.01 billion. As a group, equities analysts expect that Gerdau S.A. will post 0.61 EPS for the current year.

Gerdau Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a $0.055 dividend. The ex-dividend date was Tuesday, August 13th. This is a boost from Gerdau’s previous quarterly dividend of $0.06. This represents a $0.22 annualized dividend and a yield of 6.90%. Gerdau’s dividend payout ratio is presently 13.11%.

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.