Bank of America lifts Gerdau stake to 5.07%
PUBT·- Bank of America increased its stake in Gerdau to 5.07% on Aug. 20, 2026, reaching a total holding of 63,970,174 preferred shares. - The transaction triggered a CVM 5% disclosure requirement, alongside a cash-settled derivative exposure of 223,569 shares representing 0.02% of outstanding shares. - Bank of America stated that the acquisition does not aim to seek changes in the company's control or management.Bank of America Corp DE Grows Stock Holdings in Gerdau S.A. $GGB
Market Beat·- Bank of America Corp DE significantly increased its holdings in Gerdau S.A. during the first quarter, owning 13,222,623 shares valued at $47,734,000. - Gerdau S.A. reported quarterly earnings of $0.15 per share with $3.45 billion in revenue and announced a quarterly dividend increase to $0.0448 per share. - Wall Street analysts currently assign Gerdau a consensus rating of Moderate Buy with an average target price of $5.28.