SPX Gestao de Recursos Ltda Acquires 169,730 Shares of Gerdau S.A. (NYSE:GGB)

SPX Gestao de Recursos Ltda increased its stake in Gerdau S.A. (NYSE:GGB) by 8.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 2,202,470 shares of the basic materials company’s stock after buying an additional 169,730 shares during the quarter. Gerdau accounts for approximately 1.1% of SPX Gestao de Recursos Ltda’s portfolio, making the stock its 21st largest holding. SPX Gestao de Recursos Ltda owned 0.10% of Gerdau worth $7,268,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in GGB. Parallel Advisors LLC raised its stake in shares of Gerdau by 66.2% in the fourth quarter. Parallel Advisors LLC now owns 17,344 shares of the basic materials company’s stock valued at $84,000 after buying an additional 6,909 shares during the period. Campbell & CO Investment Adviser LLC raised 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 valued at $1,129,000 after acquiring an additional 209,853 shares during the period. Capital International Investors raised its stake in Gerdau by 7.3% in the 4th quarter. Capital International Investors now owns 91,708,872 shares of the basic materials company’s stock valued at $444,788,000 after acquiring an additional 6,268,313 shares during the period. Capital International Sarl lifted its holdings in Gerdau by 12.0% during the fourth quarter. Capital International Sarl now owns 1,223,818 shares of the basic materials company’s stock valued at $5,936,000 after purchasing an additional 130,750 shares during the last quarter. Finally, Quadrature Capital Ltd boosted its position in Gerdau by 91.0% during the fourth quarter. Quadrature Capital Ltd now owns 119,920 shares of the basic materials company’s stock worth $581,000 after purchasing an additional 57,122 shares during the period. Institutional investors own 1.49% of the company’s stock.

Gerdau Stock Performance

NYSE GGB opened at $3.50 on Tuesday. The firm has a market cap of $7.38 billion, a P/E ratio of 5.74 and a beta of 1.74. The company has a quick ratio of 1.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.21. The company’s 50 day moving average is $3.25 and its 200-day moving average is $3.38. Gerdau S.A. has a 12-month low of $2.92 and a 12-month high of $4.21.

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, beating analysts’ consensus estimates of $0.07 by $0.02. The business 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%. Sell-side analysts predict that Gerdau S.A. will post 0.53 earnings per share for the current year.

Gerdau Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were issued a dividend of $0.055 per share. This is a boost from Gerdau’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.22 dividend on an annualized basis and a yield of 6.29%. Gerdau’s dividend payout ratio is 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.