Virtu Financial LLC Acquires Shares of 54,118 Gerdau S.A. (NYSE:GGB)

Virtu Financial LLC purchased a new stake in shares of Gerdau S.A. (NYSE:GGB) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 54,118 shares of the basic materials company’s stock, valued at approximately $189,000.

A number of other large investors have also made changes to their positions in GGB. Abacus Wealth Partners LLC grew its position in Gerdau by 23.2% during the 3rd quarter. Abacus Wealth Partners LLC now owns 17,173 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 3,235 shares in the last quarter. Inspire Advisors LLC grew its holdings in shares of Gerdau by 10.2% during the third quarter. Inspire Advisors LLC now owns 45,892 shares of the basic materials company’s stock valued at $161,000 after buying an additional 4,229 shares in the last quarter. Blue Trust Inc. raised its position in Gerdau by 132.8% during the third quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company’s stock valued at $29,000 after buying an additional 4,952 shares during the period. Johnson Investment Counsel Inc. lifted its stake in Gerdau by 20.0% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 32,760 shares of the basic materials company’s stock worth $108,000 after acquiring an additional 5,460 shares in the last quarter. Finally, Ballentine Partners LLC boosted its position in Gerdau by 61.3% during the 3rd quarter. Ballentine Partners LLC now owns 18,164 shares of the basic materials company’s stock worth $64,000 after acquiring an additional 6,906 shares during the period. Institutional investors and hedge funds own 1.49% of the company’s stock.

Gerdau Trading Down 6.6 %

NYSE:GGB opened at $3.09 on Thursday. The stock’s 50-day moving average is $3.33 and its two-hundred day moving average is $3.30. 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 stock has a market cap of $6.42 billion, a PE ratio of 6.74 and a beta of 1.73. Gerdau S.A. has a fifty-two week low of $2.92 and a fifty-two week high of $4.10.

Gerdau Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, November 21st will be paid a $0.0528 dividend. This represents a $0.21 annualized dividend and a yield of 6.84%. The ex-dividend date is Thursday, November 21st. This is a positive change from Gerdau’s previous quarterly dividend of $0.00. Gerdau’s dividend payout ratio is currently 43.48%.

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.