Gerdau S.A. (NYSE:GGB) Shares Bought by Jane Street Group LLC

Jane Street Group LLC grew its position in Gerdau S.A. (NYSE:GGB) by 11.5% during the third quarter, Holdings Channel.com reports. The firm owned 385,068 shares of the basic materials company’s stock after acquiring an additional 39,609 shares during the period. Jane Street Group LLC’s holdings in Gerdau were worth $1,348,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Abacus Wealth Partners LLC increased its holdings in Gerdau by 23.2% in the third 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 last quarter. Inspire Advisors LLC boosted its position in shares of Gerdau by 10.2% during the 3rd quarter. Inspire Advisors LLC now owns 45,892 shares of the basic materials company’s stock worth $161,000 after acquiring an additional 4,229 shares in the last quarter. Blue Trust Inc. increased its holdings 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 acquiring an additional 4,952 shares during the last quarter. Johnson Investment Counsel Inc. increased its holdings 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 acquiring an additional 5,460 shares during the last quarter. Finally, Ballentine Partners LLC raised its position in shares of Gerdau by 61.3% during the 3rd quarter. Ballentine Partners LLC now owns 18,164 shares of the basic materials company’s stock worth $64,000 after acquiring an additional 6,906 shares in the last quarter. 1.49% of the stock is currently owned by institutional investors and hedge funds.

Gerdau Stock Performance

Shares of GGB opened at $2.91 on Friday. The company has a market capitalization of $6.05 billion, a price-to-earnings ratio of 6.35 and a beta of 1.73. Gerdau S.A. has a 52-week low of $2.90 and a 52-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. The stock has a 50 day moving average price of $3.29 and a 200 day moving average price of $3.28.

Gerdau Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, November 21st were given a $0.0528 dividend. This represents a $0.21 dividend on an annualized basis and a dividend yield of 7.26%. This is an increase from Gerdau’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Thursday, November 21st. Gerdau’s dividend payout ratio (DPR) is 39.13%.

About Gerdau

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.