Itau Unibanco Holding S.A. Has $10.11 Million Holdings in Gerdau S.A. (NYSE:GGB)

Itau Unibanco Holding S.A. boosted its position in Gerdau S.A. (NYSE:GGB) by 170.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,887,200 shares of the basic materials company’s stock after buying an additional 1,817,800 shares during the period. Itau Unibanco Holding S.A. owned approximately 0.14% of Gerdau worth $10,105,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of GGB. EverSource Wealth Advisors LLC lifted its position in Gerdau by 97.2% in the first quarter. EverSource Wealth Advisors LLC now owns 17,905 shares of the basic materials company’s stock valued at $79,000 after purchasing an additional 8,826 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Gerdau by 5.5% in the 2nd quarter. QRG Capital Management Inc. now owns 70,404 shares of the basic materials company’s stock worth $232,000 after purchasing an additional 3,640 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Gerdau by 27.6% during the second quarter. Sequoia Financial Advisors LLC now owns 30,308 shares of the basic materials company’s stock valued at $100,000 after acquiring an additional 6,558 shares in the last quarter. Diversified Trust Co raised its stake in shares of Gerdau by 20.0% during the 2nd quarter. Diversified Trust Co now owns 41,560 shares of the basic materials company’s stock worth $137,000 after acquiring an additional 6,926 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its position in Gerdau by 19.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 549,441 shares of the basic materials company’s stock valued at $1,813,000 after buying an additional 87,961 shares during the last quarter. Institutional investors and hedge funds own 1.49% of the company’s stock.

Gerdau Stock Up 1.0 %

Shares of NYSE GGB opened at $3.40 on Tuesday. The company has a 50-day moving average of $3.35 and a 200 day moving average of $3.31. Gerdau S.A. has a 12-month low of $2.92 and a 12-month high of $4.10. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. The stock has a market cap of $7.06 billion, a PE ratio of 7.41 and a beta of 1.73.

Gerdau Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, November 21st will be paid a $0.0528 dividend. This represents a $0.21 annualized dividend and a dividend yield of 6.22%. The ex-dividend date is Thursday, November 21st. This is an increase from Gerdau’s previous quarterly dividend of $0.00. Gerdau’s payout ratio is currently 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.