Public Employees Retirement System of Ohio Takes $1.74 Million Position in Gerdau S.A. (NYSE:GGB)

Public Employees Retirement System of Ohio purchased a new position in shares of Gerdau S.A. (NYSE:GGB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 497,319 shares of the basic materials company’s stock, valued at approximately $1,741,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. grew 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 purchasing an additional 4,952 shares during the last quarter. Insight 2811 Inc. acquired a new stake in shares of Gerdau in the 2nd quarter worth $36,000. Wedbush Securities Inc. purchased a new stake in shares of Gerdau in the second quarter valued at about $38,000. HighTower Advisors LLC acquired a new position in shares of Gerdau during the third quarter worth about $38,000. Finally, Absolute Gestao de Investimentos Ltda. acquired a new stake in Gerdau in the second quarter valued at about $46,000. Institutional investors and hedge funds own 1.49% of the company’s stock.

Gerdau Stock Performance

NYSE GGB opened at $3.09 on Thursday. The business’s 50 day moving average is $3.33 and its two-hundred day moving average is $3.30. Gerdau S.A. has a 12-month low of $2.92 and a 12-month high of $4.10. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 6.74 and a beta of 1.73. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21.

Gerdau Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, November 21st will be issued a dividend of $0.0528 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.21 dividend on an annualized basis and a yield of 6.84%. This is an increase from Gerdau’s previous quarterly dividend of $0.00. Gerdau’s payout ratio is currently 43.48%.

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.