Advisors Asset Management Inc. Sells 72,442 Shares of Gerdau S.A. (NYSE:GGB)

Advisors Asset Management Inc. lowered its position in Gerdau S.A. (NYSE:GGB) by 29.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 171,529 shares of the basic materials company’s stock after selling 72,442 shares during the period. Advisors Asset Management Inc.’s holdings in Gerdau were worth $600,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GGB. Virtu Financial LLC lifted its position in shares of Gerdau by 463.6% in the 1st quarter. Virtu Financial LLC now owns 190,794 shares of the basic materials company’s stock worth $843,000 after purchasing an additional 156,941 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of Gerdau by 97.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 17,905 shares of the basic materials company’s stock worth $79,000 after purchasing an additional 8,826 shares during the period. QRG Capital Management Inc. lifted its position in shares of Gerdau by 5.5% in the 2nd quarter. QRG Capital Management Inc. now owns 70,404 shares of the basic materials company’s stock worth $232,000 after purchasing an additional 3,640 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Gerdau by 27.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 30,308 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 6,558 shares during the period. Finally, Diversified Trust Co lifted its position in shares of Gerdau by 20.0% in the 2nd quarter. Diversified Trust Co now owns 41,560 shares of the basic materials company’s stock worth $137,000 after purchasing an additional 6,926 shares during the period. Institutional investors and hedge funds own 1.49% of the company’s stock.

Gerdau Stock Down 0.6 %

Shares of NYSE GGB opened at $3.41 on Thursday. The company has a market capitalization of $7.09 billion, a P/E ratio of 7.44 and a beta of 1.75. Gerdau S.A. has a 52-week low of $2.92 and a 52-week high of $4.10. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.98. The company’s 50 day moving average price is $3.34 and its 200-day moving average price is $3.32.

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 represents a $0.21 dividend on an annualized basis and a dividend yield of 6.19%. The ex-dividend date is Thursday, November 21st. This is an increase from Gerdau’s previous quarterly dividend of $0.00. Gerdau’s payout ratio is presently 43.64%.

Gerdau Company Profile

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.