August 30, 2023 – US Bancorp DE, a prominent financial institution, has recently decreased its position in Gerdau S.A. (NYSE:GGB) by a significant margin of 79.8% in the first quarter. According to the company’s most recent disclosure with the Securities & Exchange Commission, US Bancorp DE sold off 235,163 of its shares during this period, resulting in a decrease from 294,568 to 59,405 shares held. These shares were valued at $293,000 at the end of the reporting period.
Gerdau SA is a well-established steel producer that operates globally through various business divisions including Brazil Business, North America Business, South America Business, and Special Steel Business. The company offers an extensive range of products catering to different industries such as construction and manufacturing. This includes semi-finished products like billets, blooms, and slabs; common long rolled products including rebars, wire rods, merchant bars; drawn products such as barbed and barbless fence wires; galvanized wires for manufacturing purposes; and special steel products used in automotive parts, vehicles (light and heavy), agricultural machinery as well as other industries like oil and gas exploration.
In addition to its operations as a steel producer company, Gerdau SA recently made an announcement regarding a quarterly dividend payout. Shareholders of record on Tuesday, August 22nd will receive a dividend payment of $0.0878 per share on Wednesday, September 6th. This new dividend represents an increase compared to Gerdau’s previous quarterly dividend which had no payout value attached to it.
With this new dividend distribution plan in place, Gerdau has set an annualized basis dividend of $0.35 per share which translates to an impressive yield percentage of 6.81%. The ex-dividend date for this particular dividend is Monday, August 21st.
As of now, Gerdau’s payout ratio stands at 46.69%, indicative of the portion of earnings being distributed to shareholders as dividends. This demonstrates the company’s commitment to providing returns to its investors and highlights its continued dedication towards maximizing shareholder value.
In conclusion, US Bancorp DE has significantly reduced its holdings in Gerdau S.A., selling off 79.8% of its shares during the first quarter. Meanwhile, Gerdau continues to operate as a successful steel producer, offering a wide range of products for various industries globally. Additionally, the company has implemented an increased quarterly dividend distribution plan, emphasizing its commitment to shareholders and further enhancing investor confidence in its long-term growth prospects.
Institutional Investors Increase Positions in Gerdau SA as Steel Producer Faces Market Challenges
Gerdau SA, a prominent steel producer company, has recently seen some significant changes in its positions by various institutional investors and hedge funds. Russell Investments Group Ltd., for instance, has raised its position in shares of Gerdau by 11.1% during the first quarter. The company now owns 3,001,375 shares of Gerdau’s stock worth $14,847,000 after acquiring an additional 300,638 shares in the last quarter.
In a similar vein, Personal CFO Solutions LLC increased its position in Gerdau by 9.9% during the first quarter and now owns 32,681 shares of the company’s stock worth $161,000 after acquiring an additional 2,939 shares during the same period. Moreover, Wrapmanager Inc. raised its position in Gerdau by 13.3%, owning 30,182 shares worth $149,000 after acquiring an additional 3,534 shares during the last quarter.
Metis Global Partners LLC also saw an increase in their position by 4.7% and currently owns 115,771 shares of Gerdau’s stock worth $571,000 after acquiring an additional 5,202 shares in the first quarter. Lastly, Donoghue Forlines LLC raised its position in Gerdau by 6.0%, now owning 94,562 shares valued at $466,000 after acquiring an additional 5,331 shares during this period.
It is essential to note that institutional investors collectively own about 2.64% of Gerdau’s overall stock.
Turning our attention to recent market performance indicators for Gerdau SA (NYSE:GGB), we discover that it opened at a trading price of $5.16 on Tuesday. Over the past year alone – August
2022 to August 2023 – this steel producer has experienced a low of $4.09 per share and a high of $6.34 per share.
Additionally, Gerdau currently boasts a market capitalization of about $9.07 billion, with a price-to-earnings ratio of 4.63 and a beta value of 1.61. Furthermore, the company’s 50-day moving average price stands at $5.44, while its two-hundred day moving average is at $5.15.
As a steel producer company, Gerdau operates through various divisions such as Brazil Business, North America Business, South America Business, and Special Steel Business. The company provides a wide range of products to different industries. These include semi-finished products like billets, blooms, and slabs; common long rolled products such as rebars, wire rods, merchant bars, light shapes, and profiles used in construction and manufacturing industries.
Gerdau also offers drawn products including barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing purposes in sectors like construction and agriculture.
Moreover, the company specializes in producing special steel products used across various industries such as auto parts for light and heavy vehicles; agricultural machinery; oil and gas; wind energy; machinery and equipment; mining and rail markets.
In terms of analyst ratings on Gerdau SA’s stock (NYSE:GGB), Scotiabank recently downgraded their previous “outperform” rating to a “sector perform” rating in July 2023.
Investors looking for comprehensive research on Gerdau should consider obtaining our latest report on the company. This report will provide valuable insights into Gerdau’s performance indicators along with an analysis of recent market trends affecting the company.
Source: beststocks.com
