Truist Financial Corp Has $294,000 Stock Position in Gerdau S.A. (NYSE:GGB)

Truist Financial Corp raised its position in Gerdau S.A. (NYSE:GGB) by 21.9% in the second quarter, HoldingsChannel reports. The fund owned 89,100 shares of the basic materials company’s stock after purchasing an additional 15,984 shares during the quarter. Truist Financial Corp’s holdings in Gerdau were worth $294,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quadrature Capital Ltd grew its position in Gerdau by 91.0% in the 4th quarter. Quadrature Capital Ltd now owns 119,920 shares of the basic materials company’s stock valued at $581,000 after purchasing an additional 57,122 shares during the period. Ballentine Partners LLC bought a new position in shares of Gerdau in the first quarter valued at $44,000. Prosperity Consulting Group LLC acquired a new position in shares of Gerdau during the first quarter valued at about $53,000. BNP Paribas Financial Markets increased its position in shares of Gerdau by 61.6% during the first quarter. BNP Paribas Financial Markets now owns 312,106 shares of the basic materials company’s stock worth $1,380,000 after acquiring an additional 118,912 shares in the last quarter. Finally, KCM Investment Advisors LLC acquired a new stake in shares of Gerdau in the 1st quarter worth about $54,000. Institutional investors own 1.49% of the company’s stock.

Gerdau Price Performance

Shares of NYSE GGB opened at $3.19 on Friday. 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 firm’s 50-day simple moving average is $3.32 and its 200 day simple moving average is $3.36. The stock has a market cap of $6.73 billion, a price-to-earnings ratio of 5.23 and a beta of 1.74. Gerdau S.A. has a fifty-two week low of $2.92 and a fifty-two week high of $4.21.

Gerdau (NYSE:GGB) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Gerdau had a return on equity of 8.43% and a net margin of 7.88%. As a group, research analysts anticipate that Gerdau S.A. will post 0.61 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. Stockholders of record on Tuesday, August 13th were paid a $0.055 dividend. This is a positive change 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 annualized dividend and a dividend yield of 6.90%. 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.