Van ECK Associates Corp Sells 224,144 Shares of Gerdau S.A. (NYSE:GGB)

Van ECK Associates Corp lowered its position in shares of Gerdau S.A. (NYSE:GGB) by 16.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,099,937 shares of the basic materials company’s stock after selling 224,144 shares during the quarter. Van ECK Associates Corp owned approximately 0.05% of Gerdau worth $3,850,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of GGB. BNP Paribas Financial Markets grew its holdings in shares of Gerdau by 61.6% during the first quarter. BNP Paribas Financial Markets now owns 312,106 shares of the basic materials company’s stock worth $1,380,000 after buying an additional 118,912 shares in the last quarter. KCM Investment Advisors LLC acquired a new stake in Gerdau during the 1st quarter worth approximately $54,000. Inspire Advisors LLC boosted its holdings in Gerdau by 16.0% in the 1st quarter. Inspire Advisors LLC now owns 33,987 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 4,678 shares during the period. Headlands Technologies LLC raised its holdings in Gerdau by 339.3% in the 1st quarter. Headlands Technologies LLC now owns 76,954 shares of the basic materials company’s stock valued at $340,000 after acquiring an additional 59,438 shares in the last quarter. Finally, Banco Santander S.A. grew its stake in Gerdau by 50.6% during the first quarter. Banco Santander S.A. now owns 48,971 shares of the basic materials company’s stock worth $216,000 after buying an additional 16,459 shares in the last quarter. Institutional investors and hedge funds own 1.49% of the company’s stock.

Gerdau Stock Performance

NYSE:GGB opened at $3.57 on Friday. Gerdau S.A. has a twelve month low of $2.92 and a twelve month high of $4.21. The company has a quick ratio of 1.36, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. The stock’s 50-day simple moving average is $3.31 and its 200 day simple moving average is $3.33. The firm has a market capitalization of $7.53 billion, a PE ratio of 7.79 and a beta of 1.75.

Gerdau Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, November 21st will be given a dividend of $0.0528 per share. This is a positive change from Gerdau’s previous quarterly dividend of $0.00. This represents a $0.21 annualized dividend and a yield of 5.92%. The ex-dividend date of this dividend is Thursday, November 21st. Gerdau’s dividend payout ratio (DPR) is currently 19.64%.

About Gerdau

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