B. Metzler seel. Sohn & Co. Holding AG Purchases New Holdings in Gerdau S.A. (NYSE:GGB)

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Gerdau S.A. (NYSE:GGB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 264,560 shares of the basic materials company’s stock, valued at approximately $926,000.

Several other hedge funds have also made changes to their positions in GGB. Blue Trust Inc. increased its stake in Gerdau by 132.8% in the 3rd quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company’s stock valued at $29,000 after buying an additional 4,952 shares during the period. Insight 2811 Inc. acquired a new position in Gerdau in the 2nd quarter valued at approximately $36,000. Wedbush Securities Inc. acquired a new position in Gerdau in the 2nd quarter valued at approximately $38,000. Absolute Gestao de Investimentos Ltda. acquired a new position in Gerdau in the 2nd quarter valued at approximately $46,000. Finally, MQS Management LLC acquired a new position in Gerdau in the 3rd quarter valued at approximately $56,000. Hedge funds and other institutional investors own 1.49% of the company’s stock.

Gerdau Price Performance

Gerdau stock opened at $3.39 on Friday. The firm has a market cap of $7.05 billion, a PE ratio of 7.40 and a beta of 1.75. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.98. The firm’s 50 day moving average price is $3.34 and its two-hundred day moving average price is $3.33. Gerdau S.A. has a twelve month low of $2.92 and a twelve month high of $4.10.

Gerdau Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.0528 per share. This is a positive change from Gerdau’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.21 annualized dividend and a dividend yield of 6.23%. Gerdau’s dividend payout ratio is 43.64%.

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.