Gerdau S.A. (NYSE:GGB) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its position in Gerdau S.A. (NYSE:GGB) by 36.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 750,612 shares of the basic materials company’s stock after acquiring an additional 199,033 shares during the period. Hsbc Holdings PLC’s holdings in Gerdau were worth $2,477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in GGB. BNP Paribas Financial Markets boosted its stake in Gerdau by 16.7% during the 4th quarter. BNP Paribas Financial Markets now owns 193,194 shares of the basic materials company’s stock worth $937,000 after purchasing an additional 27,578 shares during the last quarter. Parallel Advisors LLC grew its stake in Gerdau by 66.2% during the 4th quarter. Parallel Advisors LLC now owns 17,344 shares of the basic materials company’s stock valued at $84,000 after acquiring an additional 6,909 shares in the last quarter. Contrarian Capital Management L.L.C. raised its holdings in Gerdau by 3.1% in the 4th quarter. Contrarian Capital Management L.L.C. now owns 18,240,285 shares of the basic materials company’s stock valued at $88,465,000 after acquiring an additional 547,234 shares during the last quarter. Campbell & CO Investment Adviser LLC lifted its stake in Gerdau by 912.2% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 232,857 shares of the basic materials company’s stock worth $1,129,000 after purchasing an additional 209,853 shares in the last quarter. Finally, Capital International Investors boosted its holdings in shares of Gerdau by 7.3% during the 4th quarter. Capital International Investors now owns 91,708,872 shares of the basic materials company’s stock worth $444,788,000 after purchasing an additional 6,268,313 shares during the last quarter. 1.49% of the stock is currently owned by hedge funds and other institutional investors.

Gerdau Price Performance

NYSE:GGB opened at $3.34 on Thursday. Gerdau S.A. has a one year low of $2.92 and a one year high of $4.21. The stock has a market cap of $7.03 billion, a PE ratio of 5.47 and a beta of 1.74. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.36 and a current ratio of 2.83. The stock has a 50 day moving average price of $3.25 and a 200 day moving average price of $3.39.

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

Gerdau Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a dividend of $0.055 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 6.60%. This is an increase from Gerdau’s previous quarterly dividend of $0.06. Gerdau’s dividend payout ratio (DPR) is currently 13.11%.

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.