BTG Pactual Global Asset Management Ltd Makes New $3.33 Million Investment in Gerdau S.A. (NYSE:GGB)

BTG Pactual Global Asset Management Ltd purchased a new position in Gerdau S.A. (NYSE:GGB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 638,270 shares of the basic materials company’s stock, valued at approximately $3,332,000. Gerdau makes up 0.7% of BTG Pactual Global Asset Management Ltd’s holdings, making the stock its 23rd biggest position.

A number of other hedge funds have also recently made changes to their positions in the business. Truist Financial Corp boosted its stake in shares of Gerdau by 2.9% in the first quarter. Truist Financial Corp now owns 88,335 shares of the basic materials company’s stock worth $435,000 after acquiring an additional 2,460 shares during the period. Personal CFO Solutions LLC boosted its stake in shares of Gerdau by 9.9% in the first quarter. Personal CFO Solutions LLC now owns 32,681 shares of the basic materials company’s stock worth $161,000 after acquiring an additional 2,939 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Gerdau by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 146,025 shares of the basic materials company’s stock worth $720,000 after acquiring an additional 2,989 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Gerdau by 19.7% in the first quarter. PNC Financial Services Group Inc. now owns 20,499 shares of the basic materials company’s stock worth $132,000 after acquiring an additional 3,373 shares during the period. Finally, Lifestyle Asset Management Inc. boosted its stake in shares of Gerdau by 1.7% in the second quarter. Lifestyle Asset Management Inc. now owns 207,579 shares of the basic materials company’s stock worth $1,084,000 after acquiring an additional 3,423 shares during the period. Institutional investors own 2.64% of the company’s stock.

Gerdau Price Performance

Shares of NYSE GGB traded up $0.03 during mid-day trading on Friday, reaching $5.02. The company’s stock had a trading volume of 7,618,229 shares, compared to its average volume of 7,324,886. The firm has a market capitalization of $8.82 billion, a PE ratio of 5.18 and a beta of 1.73. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.93 and a quick ratio of 1.43. The stock has a fifty day moving average of $4.67 and a two-hundred day moving average of $5.05. Gerdau S.A. has a 52 week low of $4.20 and a 52 week high of $6.34.

Gerdau Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Tuesday, November 21st will be paid a dividend of $0.0962 per share. The ex-dividend date is Monday, November 20th. This is a positive change from Gerdau’s previous quarterly dividend of $0.09. This represents a $0.38 dividend on an annualized basis and a yield of 7.66%. Gerdau’s dividend payout ratio is presently 53.61%.

Gerdau Profile

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