Gerdau S.A. (NYSE:GGB) Shares Bought by State Street Corp

State Street Corp lifted its stake in shares of Gerdau S.A. (NYSE:GGB) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,865,244 shares of the basic materials company’s stock after acquiring an additional 40,702 shares during the period. State Street Corp owned 0.14% of Gerdau worth $10,028,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of GGB. Blue Trust Inc. raised its stake in Gerdau by 132.8% during the third quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 4,952 shares during the period. Insight 2811 Inc. purchased a new position in shares of Gerdau in the 2nd quarter worth $36,000. HighTower Advisors LLC acquired a new position in Gerdau in the third quarter valued at $38,000. Wedbush Securities Inc. purchased a new stake in Gerdau during the second quarter valued at about $38,000. Finally, Absolute Gestao de Investimentos Ltda. acquired a new stake in Gerdau during the second quarter worth about $46,000. 1.49% of the stock is owned by institutional investors and hedge funds.

Gerdau Stock Performance

Gerdau stock opened at $2.98 on Friday. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 6.50 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 debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53. The stock’s 50-day moving average is $3.30 and its 200-day moving average is $3.29.

Gerdau Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, November 21st were issued a $0.0528 dividend. This is a positive change from Gerdau’s previous quarterly dividend of $0.00. The ex-dividend date was Thursday, November 21st. This represents a $0.21 annualized dividend and a yield of 7.09%. Gerdau’s dividend payout ratio (DPR) is presently 39.13%.

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.