Tidal Investments LLC Invests $525,000 in Gerdau S.A. (NYSE:GGB)

Tidal Investments LLC acquired a new stake in shares of Gerdau S.A. (NYSE:GGB) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 149,860 shares of the basic materials company’s stock, valued at approximately $525,000.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. increased its stake in Gerdau by 132.8% during the third quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 4,952 shares during the period. Insight 2811 Inc. bought a new stake in shares of Gerdau during the second quarter valued at approximately $36,000. Rehmann Capital Advisory Group acquired a new position in shares of Gerdau in the third quarter valued at $37,000. Wedbush Securities Inc. bought a new position in Gerdau in the second quarter worth $38,000. Finally, HighTower Advisors LLC acquired a new stake in Gerdau during the third quarter worth $38,000. Institutional investors own 1.49% of the company’s stock.

Gerdau Stock Performance

Shares of GGB stock opened at $3.11 on Monday. The firm has a fifty day moving average of $3.32 and a 200-day moving average of $3.29. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 6.79 and a beta of 1.73. 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.

Gerdau Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, November 21st will be given a $0.0528 dividend. This represents a $0.21 annualized dividend and a yield of 6.79%. The ex-dividend date of this dividend is Thursday, November 21st. This is a positive change from Gerdau’s previous quarterly dividend of $0.00. Gerdau’s dividend payout ratio is 39.13%.

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.