Gerdau (NYSE:GGB) Sees Unusually-High Trading Volume – Time to Buy?

Gerdau S.A. (NYSE:GGB) saw unusually-high trading volume on Friday . Approximately 23,852,043 shares traded hands during trading, an increase of 179% from the previous session’s volume of 8,536,406 shares.The stock last traded at $3.29 and had previously closed at $3.40.

Gerdau Price Performance

The firm has a market capitalization of $6.84 billion, a PE ratio of 7.43 and a beta of 1.73. 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 company has a fifty day moving average price of $3.35 and a two-hundred day moving average price of $3.30.

Gerdau Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, November 21st will be issued a $0.0528 dividend. This is an increase from Gerdau’s previous quarterly dividend of $0.00. This represents a $0.21 annualized dividend and a dividend yield of 6.42%. The ex-dividend date is Thursday, November 21st. Gerdau’s dividend payout ratio is presently 43.64%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GGB. Abacus Wealth Partners LLC grew its holdings in shares of Gerdau by 23.2% during the third quarter. Abacus Wealth Partners LLC now owns 17,173 shares of the basic materials company’s stock worth $60,000 after buying an additional 3,235 shares during the last quarter. QRG Capital Management Inc. increased its position in Gerdau by 5.5% during 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. Inspire Advisors LLC raised its stake in shares of Gerdau by 10.2% during the 3rd quarter. Inspire Advisors LLC now owns 45,892 shares of the basic materials company’s stock worth $161,000 after buying an additional 4,229 shares in the last quarter. Blue Trust Inc. boosted its stake 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 buying an additional 4,952 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its holdings in Gerdau by 20.0% during the second quarter. Johnson Investment Counsel Inc. now owns 32,760 shares of the basic materials company’s stock worth $108,000 after acquiring an additional 5,460 shares during the period. 1.49% of the stock is currently owned by institutional investors and hedge funds.

About Gerdau

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.