Park Avenue Securities LLC Makes New Investment in Gerdau S.A. (NYSE:GGB)

Park Avenue Securities LLC purchased a new position in shares of Gerdau S.A. (NYSE:GGBGet Rating) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 12,572 shares of the basic materials company’s stock, valued at approximately $57,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its holdings in shares of Gerdau by 7.1% during the 1st 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. grew its holdings in Gerdau by 28.3% during the 1st quarter. BlackRock Inc. now owns 6,870,777 shares of the basic materials company’s stock valued at $44,180,000 after buying an additional 1,517,564 shares in the last quarter. Dynamo Internacional Gestao DE Recursos LTDA. grew its holdings in Gerdau by 38.5% during the 2nd quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 3,243,811 shares of the basic materials company’s stock valued at $13,916,000 after buying an additional 901,171 shares in the last quarter. SPX Gestao de Recursos Ltda grew its holdings in Gerdau by 852.7% during the 3rd quarter. SPX Gestao de Recursos Ltda now owns 3,210,602 shares of the basic materials company’s stock valued at $14,512,000 after buying an additional 2,873,609 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Gerdau by 705.1% during the 1st quarter. Bank of America Corp DE now owns 2,758,258 shares of the basic materials company’s stock valued at $17,735,000 after buying an additional 2,415,672 shares in the last quarter. 2.75% of the stock is currently owned by institutional investors.

Gerdau Stock Up 0.5 %

GGB stock opened at $6.32 on Wednesday. Gerdau S.A. has a twelve month low of $3.94 and a twelve month high of $6.66. The company has a quick ratio of 1.12, a current ratio of 2.25 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $10.87 billion, a PE ratio of 4.08, a PEG ratio of 0.33 and a beta of 1.57. The stock has a 50-day simple moving average of $5.86 and a two-hundred day simple moving average of $5.16.

Gerdau (NYSE:GGBGet Rating) last issued its quarterly earnings data on Wednesday, November 9th. The basic materials company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). Gerdau had a return on equity of 30.08% and a net margin of 16.05%. The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.05 billion. On average, equities analysts predict that Gerdau S.A. will post 1.57 EPS for the current fiscal year.

Gerdau Announces Dividend

The firm also recently disclosed a Variable dividend, which was paid on Wednesday, December 21st. Stockholders of record on Wednesday, November 23rd were issued a dividend of $0.404 per share. This represents a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, November 22nd. Gerdau’s payout ratio is 83.87%.

Gerdau Company Profile

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Gerdau SA, together with its subsidiaries, operates as a steel producer company in the Americas. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business divisions. It 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.

See Also

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Institutional Ownership by Quarter for Gerdau (NYSE:GGB)

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