Capital International Investors grew its holdings in shares of Gerdau S.A. (NYSE:GGB – Get Rating) by 0.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,285,310 shares of the basic materials company's stock after purchasing an additional 168,323 shares during the quarter. Capital International Investors' holdings in Gerdau were worth $625,524,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Cutler Group LP increased its holdings in Gerdau by 43.9% during the first quarter. Cutler Group LP now owns 6,796 shares of the basic materials company's stock valued at $43,000 after buying an additional 2,074 shares during the last quarter. Thomas White International Ltd. increased its stake in shares of Gerdau by 51.7% in the 4th quarter. Thomas White International Ltd. now owns 6,357 shares of the basic materials company's stock worth $31,000 after purchasing an additional 2,166 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Gerdau by 19.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 20,499 shares of the basic materials company's stock worth $132,000 after purchasing an additional 3,373 shares during the period. Truist Financial Corp lifted its position in Gerdau by 8.0% during the first quarter. Truist Financial Corp now owns 52,778 shares of the basic materials company's stock valued at $339,000 after purchasing an additional 3,891 shares in the last quarter. Finally, Qtron Investments LLC grew its holdings in Gerdau by 1.0% during the first quarter. Qtron Investments LLC now owns 407,155 shares of the basic materials company's stock valued at $2,618,000 after purchasing an additional 4,219 shares during the period. Institutional investors own 2.12% of the company's stock.
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Gerdau Stock Performance
Shares of GGB opened at $4.41 on Thursday. The business has a 50-day simple moving average of $4.62 and a two-hundred day simple moving average of $5.26. The company has a quick ratio of 1.11, a current ratio of 2.22 and a debt-to-equity ratio of 0.20. Gerdau S.A. has a 52 week low of $3.94 and a 52 week high of $6.62. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 2.41, a PEG ratio of 0.15 and a beta of 1.60.
Gerdau Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Wednesday, August 17th were paid a dividend of $0.137 per share. This is a boost from Gerdau's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $0.55 dividend on an annualized basis and a yield of 12.43%. Gerdau's dividend payout ratio (DPR) is presently 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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