Gerdau S.A. (NYSE:GGB) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP cut its stake in Gerdau S.A. (NYSE:GGB) by 41.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 237,182 shares of the basic materials company’s stock after selling 169,504 shares during the period. Quantbot Technologies LP’s holdings in Gerdau were worth $830,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of GGB. Blue Trust Inc. lifted its stake in shares of Gerdau by 132.8% during the third quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company’s stock worth $29,000 after buying an additional 4,952 shares during the period. Insight 2811 Inc. acquired a new stake in Gerdau during the 2nd quarter worth about $36,000. Wedbush Securities Inc. purchased a new stake in Gerdau during the 2nd quarter valued at about $38,000. Absolute Gestao de Investimentos Ltda. acquired a new position in shares of Gerdau in the second quarter valued at about $46,000. Finally, MQS Management LLC purchased a new position in shares of Gerdau in the third quarter worth about $56,000. Hedge funds and other institutional investors own 1.49% of the company’s stock.

Gerdau Price Performance

Shares of NYSE GGB opened at $3.36 on Monday. Gerdau S.A. has a 52 week low of $2.92 and a 52 week high of $4.10. The business’s 50 day moving average price is $3.35 and its 200 day moving average price is $3.32. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. The firm has a market cap of $6.98 billion, a P/E ratio of 7.33 and a beta of 1.75.

Gerdau Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, November 21st will be issued a $0.0528 dividend. This is an increase from Gerdau’s previous quarterly dividend of $0.00. This represents a $0.21 annualized dividend and a dividend yield of 6.29%. The ex-dividend date is Thursday, November 21st. Gerdau’s dividend payout ratio is 43.64%.

Gerdau 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.