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Gerdau S.A. (NYSE:GGB) Shares Sold by Pinebridge Investments L.P.

Defense World ·  Aug 29, 2022 07:01

Pinebridge Investments L.P. decreased its position in Gerdau S.A. (NYSE:GGB – Get Rating) by 18.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 513,688 shares of the basic materials company's stock after selling 114,262 shares during the quarter. Pinebridge Investments L.P.'s holdings in Gerdau were worth $3,303,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GGB. American Century Companies Inc. increased its stake in shares of Gerdau by 13.4% during the 1st quarter. American Century Companies Inc. now owns 320,968 shares of the basic materials company's stock valued at $2,064,000 after acquiring an additional 38,002 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Gerdau by 160.9% during the 1st quarter. Bank of New York Mellon Corp now owns 120,578 shares of the basic materials company's stock valued at $775,000 after acquiring an additional 74,364 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in shares of Gerdau by 13.1% during the 1st quarter. Crossmark Global Holdings Inc. now owns 127,173 shares of the basic materials company's stock valued at $817,000 after acquiring an additional 14,776 shares during the last quarter. Raymond James & Associates increased its stake in shares of Gerdau by 146.8% during the 1st quarter. Raymond James & Associates now owns 125,431 shares of the basic materials company's stock valued at $807,000 after acquiring an additional 74,615 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of Gerdau during the 1st quarter valued at about $215,000.

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Gerdau Trading Down 2.7 %

NYSE GGB opened at $4.74 on Monday. Gerdau S.A. has a 12 month low of $3.94 and a 12 month high of $6.62. The company has a 50-day moving average of $4.55 and a 200-day moving average of $5.31. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.22 and a quick ratio of 1.11. The company has a market cap of $8.15 billion, a P/E ratio of 2.59, a P/E/G ratio of 0.15 and a beta of 1.61.

Gerdau Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Wednesday, August 17th will be given a dividend of $0.137 per share. This represents a $0.55 dividend on an annualized basis and a yield of 11.56%. The ex-dividend date is Tuesday, August 16th. This is an increase from Gerdau's previous quarterly dividend of $0.12. Gerdau's dividend payout ratio is 30.05%.

Gerdau Profile

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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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