Barings LLC decreased its position in shares of Gerdau S.A. (NYSE:GGB – Get Rating) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 824,679 shares of the basic materials company's stock after selling 26,214 shares during the period. Barings LLC's holdings in Gerdau were worth $5,303,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in shares of Gerdau by 7.1% during the first quarter. Dimensional Fund Advisors LP now owns 11,042,661 shares of the basic materials company's stock worth $70,994,000 after buying an additional 734,515 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Gerdau by 28.3% during the first quarter. BlackRock Inc. now owns 6,870,777 shares of the basic materials company's stock worth $44,180,000 after buying an additional 1,517,564 shares in the last quarter. Banco BTG Pactual S.A. acquired a new stake in shares of Gerdau during the first quarter worth approximately $172,000. Panagora Asset Management Inc. increased its holdings in shares of Gerdau by 15.7% during the first quarter. Panagora Asset Management Inc. now owns 102,350 shares of the basic materials company's stock worth $658,000 after buying an additional 13,915 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in shares of Gerdau by 25.8% during the first quarter. Acadian Asset Management LLC now owns 2,209,835 shares of the basic materials company's stock worth $14,206,000 after buying an additional 453,878 shares in the last quarter. Institutional investors and hedge funds own 2.12% of the company's stock.
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Gerdau Price Performance
Shares of Gerdau stock traded down $0.02 during midday trading on Tuesday, reaching $4.62. The company had a trading volume of 165,281 shares, compared to its average volume of 15,423,738. The company has a current ratio of 2.22, a quick ratio of 1.11 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 2.54, a price-to-earnings-growth ratio of 0.14 and a beta of 1.60. The stock has a fifty day simple moving average of $4.55 and a 200 day simple moving average of $5.29. Gerdau S.A. has a 1-year low of $3.94 and a 1-year high of $6.62.
Gerdau Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Wednesday, August 17th were issued a $0.137 dividend. The ex-dividend date was Tuesday, August 16th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 11.86%. This is a positive change from Gerdau's previous quarterly dividend of $0.12. Gerdau's dividend payout ratio (DPR) is currently 30.60%.
About Gerdau
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Gerdau SA provides steel products and services. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It offers 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; finished industrial products, including commercial rolled-steel bars, and light profiles and wires; agricultural products that include stakes and smooth wire products; and drawn products comprises barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire meshes, nails, and clamps.
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