Stifel Financial Corp Sells 5,292 Shares of Gerdau S.A. (NYSE:GGB)

Stifel Financial Corp lowered its position in Gerdau S.A. (NYSE:GGB) by 30.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,000 shares of the basic materials company’s stock after selling 5,292 shares during the period. Stifel Financial Corp’s holdings in Gerdau were worth $42,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in Gerdau by 132.8% during the third quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 4,952 shares in the last quarter. Insight 2811 Inc. purchased a new stake in shares of Gerdau in the 2nd quarter worth approximately $36,000. Wedbush Securities Inc. bought a new position in Gerdau during the 2nd quarter valued at approximately $38,000. HighTower Advisors LLC purchased a new position in Gerdau during the third quarter valued at $38,000. Finally, Absolute Gestao de Investimentos Ltda. purchased a new position in Gerdau during the second quarter valued at $46,000. 1.49% of the stock is owned by hedge funds and other institutional investors.

Gerdau Trading Down 0.3 %

NYSE GGB opened at $2.90 on Tuesday. The stock has a market cap of $6.03 billion, a P/E ratio of 6.33 and a beta of 1.73. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. Gerdau S.A. has a 12 month low of $2.86 and a 12 month high of $4.08. The stock’s fifty day moving average price is $3.28 and its 200-day moving average price is $3.28.

Gerdau Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, November 21st were given a $0.0528 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Gerdau’s previous quarterly dividend of $0.00. This represents a $0.21 annualized dividend and a yield of 7.28%. Gerdau’s dividend payout ratio is 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.