Tidal Investments LLC Makes New $525,000 Investment in Gerdau S.A. (NYSE:GGB)

Tidal Investments LLC bought a new stake in Gerdau S.A. (NYSE:GGB) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 149,860 shares of the basic materials company’s stock, valued at approximately $525,000.

Several other large investors have also made changes to their positions in GGB. FMR LLC lifted its holdings in Gerdau by 11.1% during the 3rd quarter. FMR LLC now owns 88,979,025 shares of the basic materials company’s stock valued at $311,427,000 after purchasing an additional 8,898,975 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Gerdau in the 3rd quarter worth approximately $29,750,000. Marshall Wace LLP grew its position in Gerdau by 1,988.2% during the 2nd quarter. Marshall Wace LLP now owns 6,186,152 shares of the basic materials company’s stock worth $20,414,000 after acquiring an additional 5,889,913 shares during the last quarter. Two Sigma Advisers LP grew its position in Gerdau by 298.1% during the 3rd quarter. Two Sigma Advisers LP now owns 6,097,460 shares of the basic materials company’s stock worth $21,341,000 after acquiring an additional 4,565,900 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in Gerdau by 48.1% in the 2nd quarter. Acadian Asset Management LLC now owns 13,391,548 shares of the basic materials company’s stock valued at $44,181,000 after purchasing an additional 4,351,666 shares during the last quarter. Institutional investors own 1.49% of the company’s stock.

Gerdau Price Performance

Gerdau stock opened at $3.11 on Monday. Gerdau S.A. has a 52 week low of $2.92 and a 52 week high of $4.10. The business’s fifty day moving average is $3.32 and its two-hundred day moving average is $3.29. 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 has a market cap of $6.47 billion, a P/E ratio of 6.79 and a beta of 1.73.

Gerdau Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, November 21st will be given a dividend of $0.0528 per share. This represents a $0.21 dividend on an annualized basis and a dividend yield of 6.79%. This is a positive change from Gerdau’s previous quarterly dividend of $0.00. The ex-dividend date is Thursday, November 21st. Gerdau’s dividend payout ratio is presently 39.13%.

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.