Legacy Financial Advisors Inc. Invests $257,000 in Gerdau S.A. (NYSE:GGB)

Legacy Financial Advisors Inc. purchased a new position in shares of Gerdau S.A. (NYSE:GGB) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 78,000 shares of the basic materials company’s stock, valued at approximately $257,000.

Other hedge funds have also added to or reduced their stakes in the company. Oaktree Fund Advisors LLC acquired a new stake in shares of Gerdau in the 2nd quarter valued at $2,148,000. Commonwealth Equity Services LLC boosted its stake in Gerdau by 1,706.6% in the second quarter. Commonwealth Equity Services LLC now owns 288,519 shares of the basic materials company’s stock valued at $952,000 after buying an additional 272,549 shares in the last quarter. Diversified Trust Co grew its position in Gerdau by 20.0% in the second quarter. Diversified Trust Co now owns 41,560 shares of the basic materials company’s stock valued at $137,000 after acquiring an additional 6,926 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Gerdau by 97.2% during the first quarter. EverSource Wealth Advisors LLC now owns 17,905 shares of the basic materials company’s stock worth $79,000 after acquiring an additional 8,826 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in Gerdau by 27.6% during the second quarter. Sequoia Financial Advisors LLC now owns 30,308 shares of the basic materials company’s stock worth $100,000 after acquiring an additional 6,558 shares in the last quarter. 1.49% of the stock is owned by institutional investors.

Gerdau Trading Down 4.7 %

GGB opened at $3.26 on Friday. The company has a market cap of $6.87 billion, a P/E ratio of 5.34 and a beta of 1.74. The company has a current ratio of 2.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $3.26 and its 200-day moving average is $3.39. Gerdau S.A. has a 1-year low of $2.92 and a 1-year high of $4.21.

Gerdau (NYSE:GGB) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Gerdau had a net margin of 7.88% and a return on equity of 8.43%. Equities research analysts predict that Gerdau S.A. will post 0.53 earnings per share for the current fiscal year.

Gerdau Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date was Tuesday, August 13th. This is a boost from Gerdau’s previous quarterly dividend of $0.06. Gerdau’s dividend payout ratio is presently 13.11%.

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.