Jane Street Group LLC Increases Position in Gerdau S.A. (NYSE:GGB)

Jane Street Group LLC raised its position in shares of Gerdau S.A. (NYSE:GGB) by 11.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 385,068 shares of the basic materials company’s stock after buying an additional 39,609 shares during the period. Jane Street Group LLC’s holdings in Gerdau were worth $1,348,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its stake in Gerdau by 132.8% during the 3rd quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 4,952 shares in the last quarter. Insight 2811 Inc. purchased a new stake in Gerdau during the second quarter worth about $36,000. Wedbush Securities Inc. acquired a new stake in shares of Gerdau during the second quarter worth about $38,000. HighTower Advisors LLC purchased a new position in shares of Gerdau in the third quarter valued at approximately $38,000. Finally, Absolute Gestao de Investimentos Ltda. acquired a new position in shares of Gerdau in the second quarter valued at approximately $46,000. 1.49% of the stock is owned by institutional investors and hedge funds.

Gerdau Price Performance

Gerdau stock opened at $2.91 on Friday. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. Gerdau S.A. has a 52-week low of $2.90 and a 52-week high of $4.10. The firm has a market cap of $6.05 billion, a PE ratio of 6.35 and a beta of 1.73. The company’s 50 day moving average is $3.29 and its two-hundred day moving average is $3.28.

Gerdau Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, November 21st were paid a $0.0528 dividend. 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 7.26%. The ex-dividend date was Thursday, November 21st. Gerdau’s dividend payout ratio (DPR) is presently 39.13%.

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.