Dynamic Technology Lab Private Ltd Takes $79,000 Position in Gerdau S.A. (NYSE:GGB)

Dynamic Technology Lab Private Ltd acquired a new stake in Gerdau S.A. (NYSE:GGB) in the 3rd quarter, Holdings Channel reports. The firm acquired 22,540 shares of the basic materials company’s stock, valued at approximately $79,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Abacus Wealth Partners LLC boosted its stake in shares of Gerdau by 23.2% in the 3rd quarter. Abacus Wealth Partners LLC now owns 17,173 shares of the basic materials company’s stock valued at $60,000 after buying an additional 3,235 shares during the period. QRG Capital Management Inc. boosted its stake 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 valued at $232,000 after buying an additional 3,640 shares during the period. Inspire Advisors LLC boosted its stake in shares of Gerdau by 10.2% in the 3rd quarter. Inspire Advisors LLC now owns 45,892 shares of the basic materials company’s stock valued at $161,000 after buying an additional 4,229 shares during the period. Blue Trust Inc. boosted its stake in shares of Gerdau by 132.8% in the 3rd quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company’s stock valued at $29,000 after buying an additional 4,952 shares during the period. Finally, Johnson Investment Counsel Inc. boosted its stake in shares of Gerdau by 20.0% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 32,760 shares of the basic materials company’s stock valued at $108,000 after buying an additional 5,460 shares during the period. Hedge funds and other institutional investors own 1.49% of the company’s stock.

Gerdau Price Performance

GGB stock opened at $3.44 on Wednesday. The business has a 50 day moving average price of $3.35 and a 200 day moving average price of $3.31. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of 7.51 and a beta of 1.73. Gerdau S.A. has a fifty-two week low of $2.92 and a fifty-two week high of $4.10. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21.

Gerdau Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, November 21st will be paid a dividend of $0.0528 per share. This is a boost from Gerdau’s previous quarterly dividend of $0.00. The ex-dividend date is Thursday, November 21st. This represents a $0.21 annualized dividend and a yield of 6.14%. 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.