BNP Paribas Financial Markets Sells 65,181 Shares of Gerdau S.A. (NYSE:GGB)

BNP Paribas Financial Markets lessened its stake in Gerdau S.A. (NYSE:GGB) by 13.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 425,111 shares of the basic materials company’s stock after selling 65,181 shares during the quarter. BNP Paribas Financial Markets’ holdings in Gerdau were worth $1,488,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. FMR LLC increased its position in Gerdau by 11.1% in the third quarter. FMR LLC now owns 88,979,025 shares of the basic materials company’s stock worth $311,427,000 after buying an additional 8,898,975 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Gerdau in the 3rd quarter worth about $79,000. Daiwa Securities Group Inc. raised its stake in 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 period. West Family Investments Inc. bought a new position in Gerdau during the third quarter worth about $85,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Gerdau in the third quarter worth about $926,000. Hedge funds and other institutional investors own 1.49% of the company’s stock.

Gerdau Stock Performance

Shares of GGB stock opened at $3.35 on Monday. The firm’s 50 day moving average is $3.35 and its 200 day moving average is $3.30. The stock has a market capitalization of $6.96 billion, a P/E ratio of 7.31 and a beta of 1.73. Gerdau S.A. has a 12 month low of $2.92 and a 12 month high of $4.10. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21.

Gerdau Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, November 21st will be given a $0.0528 dividend. The ex-dividend date is Thursday, November 21st. This is a boost from Gerdau’s previous quarterly dividend of $0.00. This represents a $0.21 annualized dividend and a dividend yield of 6.31%. 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.