Healthcare of Ontario Pension Plan Trust Fund Takes Position in Gerdau S.A. (NYSE:GGB)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Gerdau S.A. (NYSE:GGB) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,500,000 shares of the basic materials company’s stock, valued at approximately $29,750,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.40% of Gerdau as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of Gerdau by 132.8% in the third quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 4,952 shares during the period. Insight 2811 Inc. purchased a new stake in shares of Gerdau in the second quarter valued at approximately $36,000. Wedbush Securities Inc. purchased a new stake in shares of Gerdau in the second quarter valued at approximately $38,000. Absolute Gestao de Investimentos Ltda. purchased a new stake in shares of Gerdau in the second quarter valued at approximately $46,000. Finally, MQS Management LLC purchased a new stake in shares of Gerdau in the third quarter valued at approximately $56,000. Hedge funds and other institutional investors own 1.49% of the company’s stock.

Gerdau Stock Down 0.6 %

Shares of NYSE GGB opened at $3.41 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.98. The firm has a market capitalization of $7.09 billion, a price-to-earnings ratio of 7.44 and a beta of 1.75. The stock has a 50 day moving average price of $3.34 and a 200 day moving average price of $3.32. Gerdau S.A. has a 52-week low of $2.92 and a 52-week high of $4.10.

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 $0.0528 dividend. This is a positive change from Gerdau’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.21 dividend on an annualized basis and a dividend yield of 6.19%. Gerdau’s payout ratio is presently 43.64%.

Gerdau Company 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.