Walleye Capital LLC Has $4.54 Million Stock Position in Gerdau S.A. (NYSE:GGB)

Walleye Capital LLC grew its holdings in Gerdau S.A. (NYSE:GGB) by 42.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,295,926 shares of the basic materials company’s stock after purchasing an additional 385,535 shares during the period. Walleye Capital LLC owned about 0.06% of Gerdau worth $4,536,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Gerdau by 307.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,037,480 shares of the basic materials company’s stock valued at $3,631,000 after buying an additional 782,980 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Gerdau in the 3rd quarter valued at about $29,750,000. FMR LLC increased its position in shares of Gerdau by 11.1% in the third quarter. FMR LLC now owns 88,979,025 shares of the basic materials company’s stock valued at $311,427,000 after acquiring an additional 8,898,975 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Gerdau during the third quarter worth about $79,000. Finally, Daiwa Securities Group Inc. boosted its position in Gerdau by 6.9% during the third quarter. Daiwa Securities Group Inc. now owns 309,558 shares of the basic materials company’s stock valued at $1,083,000 after purchasing an additional 20,000 shares during the last quarter. Institutional investors own 1.49% of the company’s stock.

Gerdau Stock Down 1.5 %

NYSE:GGB opened at $3.36 on Monday. The firm has a market capitalization of $6.98 billion, a price-to-earnings ratio of 7.33 and a beta of 1.75. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. Gerdau S.A. has a twelve month low of $2.92 and a twelve month high of $4.10. The stock’s 50 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. Shareholders of record on Thursday, November 21st will be given a dividend of $0.0528 per share. This is a positive change from Gerdau’s previous quarterly dividend of $0.00. This represents a $0.21 annualized dividend and a yield of 6.29%. The ex-dividend date is Thursday, November 21st. Gerdau’s dividend 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.