Axa S.A. Has $3.38 Million Stock Position in Gerdau S.A. (NYSE:GGB)

Axa S.A. grew its position in Gerdau S.A. (NYSE:GGB) by 6.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,024,392 shares of the basic materials company’s stock after buying an additional 59,451 shares during the period. Axa S.A.’s holdings in Gerdau were worth $3,380,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in GGB. Insight 2811 Inc. acquired a new position in shares of Gerdau in the 2nd quarter valued at $36,000. Wedbush Securities Inc. acquired a new position in shares of Gerdau in the 2nd quarter valued at $38,000. Ballentine Partners LLC acquired a new position in shares of Gerdau in the 1st quarter valued at $44,000. Absolute Gestao de Investimentos Ltda. acquired a new position in shares of Gerdau in the 2nd quarter valued at $46,000. Finally, Prosperity Consulting Group LLC acquired a new position in Gerdau in the 1st quarter worth $53,000. Institutional investors and hedge funds own 1.49% of the company’s stock.

Gerdau Price Performance

Shares of NYSE GGB opened at $3.48 on Monday. The firm has a market cap of $7.34 billion, a PE ratio of 5.70 and a beta of 1.74. The company has a current ratio of 2.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.21. Gerdau S.A. has a 1-year low of $2.92 and a 1-year high of $4.21. The company has a fifty day moving average price of $3.25 and a 200 day moving average price of $3.39.

Gerdau (NYSE:GGB) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.01 billion. Gerdau had a net margin of 7.88% and a return on equity of 8.43%. Research analysts predict that Gerdau S.A. will post 0.53 earnings per share for the current fiscal year.

Gerdau Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 13th were paid a $0.055 dividend. The ex-dividend date was Tuesday, August 13th. This is a positive change from Gerdau’s previous quarterly dividend of $0.06. This represents a $0.22 dividend on an annualized basis and a yield of 6.32%. 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.