Park Avenue Securities LLC Acquires New Shares in Gerdau S.A. (NYSE:GGB)

Park Avenue Securities LLC acquired a new stake in shares of Gerdau S.A. (NYSE:GGB – Get Rating) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,572 shares of the basic materials company’s stock, valued at approximately $57,000.

Several other institutional investors also recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its position in shares of Gerdau by 19.7% during the first quarter. PNC Financial Services Group Inc. now owns 20,499 shares of the basic materials company’s stock valued at $132,000 after buying an additional 3,373 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Gerdau by 14.5% during the third quarter. Pacer Advisors Inc. now owns 27,131 shares of the basic materials company’s stock valued at $123,000 after buying an additional 3,433 shares during the last quarter. Quadrant Capital Group LLC boosted its position in shares of Gerdau by 172.3% during the second quarter. Quadrant Capital Group LLC now owns 6,089 shares of the basic materials company’s stock valued at $26,000 after buying an additional 3,853 shares during the last quarter. Advisory Services Network LLC lifted its holdings in Gerdau by 14.5% in the first quarter. Advisory Services Network LLC now owns 33,533 shares of the basic materials company’s stock valued at $216,000 after acquiring an additional 4,247 shares during the period. Finally, Truist Financial Corp lifted its holdings in Gerdau by 8.6% in the second quarter. Truist Financial Corp now owns 57,297 shares of the basic materials company’s stock valued at $246,000 after acquiring an additional 4,519 shares during the period. 2.75% of the stock is owned by hedge funds and other institutional investors.

Gerdau Stock Up 0.5 %

GGB stock opened at $6.32 on Wednesday. Gerdau S.A. has a fifty-two week low of $3.94 and a fifty-two week high of $6.66. The business’s 50-day moving average is $5.86 and its two-hundred day moving average is $5.16. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.12 and a current ratio of 2.25. The company has a market cap of $10.87 billion, a price-to-earnings ratio of 4.08, a P/E/G ratio of 0.33 and a beta of 1.57.

Gerdau (NYSE:GGB – Get Rating) last posted its earnings results on Wednesday, November 9th. The basic materials company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). Gerdau had a net margin of 16.05% and a return on equity of 30.08%. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.05 billion. As a group, analysts forecast that Gerdau S.A. will post 1.57 earnings per share for the current year.

Gerdau Dividend Announcement

The business also recently disclosed a Variable dividend, which was paid on Wednesday, December 21st. Stockholders of record on Wednesday, November 23rd were paid a $0.404 dividend. This represents a dividend yield of 0.4%. The ex-dividend date was Tuesday, November 22nd. Gerdau’s dividend payout ratio (DPR) is currently 83.87%.

Gerdau Company Profile

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Gerdau SA, together with its subsidiaries, operates as a steel producer company in the Americas. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business divisions. It 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.