Stifel Financial Corp Sells 5,292 Shares of Gerdau S.A. (NYSE:GGB)

Stifel Financial Corp lowered its position in Gerdau S.A. (NYSE:GGB) by 30.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,000 shares of the basic materials company’s stock after selling 5,292 shares during the period. Stifel Financial Corp’s holdings in Gerdau were worth $42,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Hsbc Holdings PLC grew its stake in shares of Gerdau by 36.1% during the 2nd quarter. Hsbc Holdings PLC now owns 750,612 shares of the basic materials company’s stock valued at $2,477,000 after purchasing an additional 199,033 shares during the period. Marshall Wace LLP grew its position in Gerdau by 1,988.2% during the second quarter. Marshall Wace LLP now owns 6,186,152 shares of the basic materials company’s stock valued at $20,414,000 after buying an additional 5,889,913 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Gerdau by 307.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,037,480 shares of the basic materials company’s stock valued at $3,631,000 after buying an additional 782,980 shares during the last quarter. Walleye Capital LLC raised its position in Gerdau by 42.3% in the third quarter. Walleye Capital LLC now owns 1,295,926 shares of the basic materials company’s stock worth $4,536,000 after acquiring an additional 385,535 shares during the period. Finally, Oaktree Fund Advisors LLC purchased a new position in shares of Gerdau during the 2nd quarter worth $2,148,000. Institutional investors own 1.49% of the company’s stock.

Gerdau Trading Down 0.3 %

Shares of GGB stock opened at $2.90 on Tuesday. Gerdau S.A. has a 1 year low of $2.86 and a 1 year high of $4.08. The firm has a fifty day moving average price of $3.28 and a 200-day moving average price of $3.28. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 6.33 and a beta of 1.73. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53.

Gerdau Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, November 21st were given a $0.0528 dividend. This is a boost from Gerdau’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.21 dividend on an annualized basis and a yield of 7.28%. Gerdau’s dividend payout ratio is presently 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.