Fmr LLC Has $311.43 Million Stock Holdings in Gerdau S.A. (NYSE:GGB)

Fmr LLC grew its holdings in shares of Gerdau S.A. (NYSE:GGB) by 11.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,979,025 shares of the basic materials company’s stock after buying an additional 8,898,975 shares during the quarter. Fmr LLC owned 4.22% of Gerdau worth $311,427,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Blue Trust Inc. lifted its position in 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 in the last quarter. Insight 2811 Inc. bought a new position in shares of Gerdau in the second quarter valued at approximately $36,000. Wedbush Securities Inc. purchased a new position in shares of Gerdau during the second quarter valued at approximately $38,000. Absolute Gestao de Investimentos Ltda. bought a new stake in Gerdau during the second quarter worth $46,000. Finally, MQS Management LLC purchased a new stake in Gerdau in the 3rd quarter valued at $56,000. 1.49% of the stock is currently owned by institutional investors and hedge funds.

Gerdau Price Performance

GGB opened at $3.36 on Friday. Gerdau S.A. has a 1 year low of $2.92 and a 1 year high of $4.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53. The company has a market capitalization of $6.98 billion, a price-to-earnings ratio of 7.33 and a beta of 1.75. The firm’s fifty day moving average price is $3.35 and its two-hundred day moving average price is $3.32.

Gerdau Increases Dividend

The company 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 dividend of $0.0528 per share. The ex-dividend date is 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 6.29%. Gerdau’s payout ratio is 43.64%.

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.