Posted by admin on Aug 13th, 2022
National Bank of Canada FI decreased its stake in shares of Gerdau S.A. (NYSE:GGB – Get Rating) by 40.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 10,700 shares of the basic materials company’s stock after selling 7,375 shares during the quarter. National Bank of Canada FI’s holdings in Gerdau were worth $69,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Capital International Investors increased its holdings in shares of Gerdau by 0.3% during the 4th quarter. Capital International Investors now owns 97,116,987 shares of the basic materials company’s stock worth $477,802,000 after purchasing an additional 300,587 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Gerdau by 12.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,308,146 shares of the basic materials company’s stock worth $50,701,000 after purchasing an additional 1,113,657 shares during the period. Itau Unibanco Holding S.A. boosted its position in shares of Gerdau by 126.1% during the 4th quarter. Itau Unibanco Holding S.A. now owns 10,036,257 shares of the basic materials company’s stock valued at $48,378,000 after acquiring an additional 5,596,967 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Gerdau by 32.3% during the 4th quarter. JPMorgan Chase & Co. now owns 4,153,177 shares of the basic materials company’s stock valued at $20,433,000 after acquiring an additional 1,013,845 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Gerdau by 153.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,542,490 shares of the basic materials company’s stock valued at $12,509,000 after acquiring an additional 1,540,953 shares in the last quarter.
Shares of Gerdau stock opened at $5.13 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.11 and a current ratio of 2.22. The firm’s 50-day simple moving average is $4.67 and its 200-day simple moving average is $5.35. Gerdau S.A. has a twelve month low of $3.94 and a twelve month high of $6.62. The firm has a market cap of $8.82 billion, a P/E ratio of 2.80, a price-to-earnings-growth ratio of 0.16 and a beta of 1.61.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Wednesday, August 17th will be given a dividend of $0.137 per share. This is a positive change from Gerdau’s previous quarterly dividend of $0.12. This represents a $0.55 annualized dividend and a dividend yield of 10.68%. The ex-dividend date is Tuesday, August 16th. Gerdau’s payout ratio is 18.03%.
Gerdau SA provides steel products and services. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It offers 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; finished industrial products, including commercial rolled-steel bars, and light profiles and wires; agricultural products that include stakes and smooth wire products; and drawn products comprises barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire meshes, nails, and clamps.
Receive News & Ratings for Gerdau Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gerdau and related companies with MarketBeat.com's FREE daily email newsletter.
National Bank of Canada FI Takes $85,000 Position in Mr. Cooper Group Inc. (NASDAQ:COOP)
National Bank of Canada FI Lowers Stock Holdings in Credit Acceptance Co. (NASDAQ:CACC)