Legacy Financial Advisors Inc. Takes $257,000 Position in Gerdau S.A. (NYSE:GGB)

Legacy Financial Advisors Inc. bought a new position in shares of Gerdau S.A. (NYSE:GGB) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 78,000 shares of the basic materials company’s stock, valued at approximately $257,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Insight 2811 Inc. bought a new stake in shares of Gerdau during the second quarter worth approximately $36,000. Wedbush Securities Inc. bought a new position in Gerdau during the 2nd quarter worth $38,000. Ballentine Partners LLC acquired a new stake in shares of Gerdau during the first quarter worth $44,000. Prosperity Consulting Group LLC bought a new stake in shares of Gerdau in the first quarter valued at about $53,000. Finally, KCM Investment Advisors LLC acquired a new position in shares of Gerdau in the first quarter valued at about $54,000. Institutional investors and hedge funds own 1.49% of the company’s stock.

Gerdau Price Performance

Shares of Gerdau stock opened at $3.26 on Friday. The company has a quick ratio of 1.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $6.87 billion, a price-to-earnings ratio of 5.34 and a beta of 1.74. Gerdau S.A. has a twelve month low of $2.92 and a twelve month high of $4.21. The company has a 50-day simple moving average of $3.26 and a two-hundred day simple moving average of $3.39.

Gerdau (NYSE:GGB) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The company had revenue of $3.19 billion during 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%. Analysts forecast that Gerdau S.A. will post 0.53 EPS for the current year.

Gerdau Increases Dividend

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