Gerdau S.A. (NYSE:GGB) Shares Acquired by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. raised its position in shares of Gerdau S.A. (NYSE:GGB) by 0.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,332,715 shares of the basic materials company’s stock after purchasing an additional 11,428 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Gerdau were worth $11,665,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. increased its holdings in shares of 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 acquiring an additional 4,952 shares during the last quarter. Insight 2811 Inc. bought a new stake in Gerdau during the second quarter valued at $36,000. Wedbush Securities Inc. acquired a new stake in shares of Gerdau during the second quarter worth $38,000. Absolute Gestao de Investimentos Ltda. acquired a new position in shares of Gerdau in the 2nd quarter valued at about $46,000. Finally, MQS Management LLC bought a new stake in shares of Gerdau during the 3rd quarter valued at about $56,000. Institutional investors and hedge funds own 1.49% of the company’s stock.

Gerdau Stock Performance

Shares of NYSE GGB opened at $3.40 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. The firm’s 50-day moving average price is $3.35 and its two-hundred day moving average price is $3.31. Gerdau S.A. has a 52-week low of $2.92 and a 52-week high of $4.10. The stock has a market capitalization of $7.06 billion, a P/E ratio of 7.38 and a beta of 1.75.

Gerdau Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, November 21st will be issued a $0.0528 dividend. This is an increase from Gerdau’s previous quarterly dividend of $0.00. The ex-dividend date is Thursday, November 21st. This represents a $0.21 annualized dividend and a dividend yield of 6.22%. Gerdau’s dividend payout ratio (DPR) is 43.48%.

Gerdau 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.