Banco Santander S.A. Purchases 34,562 Shares of Gerdau S.A. (NYSE:GGB)

Banco Santander S.A. boosted its position in Gerdau S.A. (NYSE:GGB) by 56.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 95,667 shares of the basic materials company’s stock after purchasing an additional 34,562 shares during the period. Banco Santander S.A.’s holdings in Gerdau were worth $276,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Gerdau by 307.7% in the third 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. Walleye Capital LLC raised its stake in Gerdau by 42.3% in the 3rd quarter. Walleye Capital LLC now owns 1,295,926 shares of the basic materials company’s stock valued at $4,536,000 after acquiring an additional 385,535 shares during the period. Two Sigma Advisers LP lifted its holdings in Gerdau by 298.1% during the 3rd quarter. Two Sigma Advisers LP now owns 6,097,460 shares of the basic materials company’s stock valued at $21,341,000 after purchasing an additional 4,565,900 shares during the last quarter. State Street Corp lifted its holdings in Gerdau by 1.4% during the 3rd quarter. State Street Corp now owns 2,865,244 shares of the basic materials company’s stock valued at $10,028,000 after purchasing an additional 40,702 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in Gerdau by 8.5% during the fourth quarter. Pacer Advisors Inc. now owns 208,977 shares of the basic materials company’s stock worth $602,000 after purchasing an additional 16,313 shares during the period. Institutional investors own 1.49% of the company’s stock.

Gerdau Price Performance

Shares of GGB opened at $2.86 on Tuesday. The company’s 50-day moving average is $2.91 and its 200-day moving average is $3.17. 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 firm has a market capitalization of $5.93 billion, a PE ratio of 6.64 and a beta of 1.69. Gerdau S.A. has a fifty-two week low of $2.67 and a fifty-two week high of $4.04.

Gerdau (NYSE:GGB) last announced its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.66 billion. Gerdau had a net margin of 7.03% and a return on equity of 7.74%. Equities analysts forecast that Gerdau S.A. will post 0.46 EPS for the current year.

Gerdau Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.0175 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.07 dividend on an annualized basis and a dividend yield of 2.46%. Gerdau’s dividend payout ratio (DPR) is currently 13.95%.

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.