Gerdau S.A. (NYSE:GGB) Short Interest Update

Gerdau S.A. (NYSE:GGB) was the recipient of a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 18,180,000 shares, an increase of 19.8% from the December 15th total of 15,180,000 shares. Approximately 1.4% of the company’s stock are sold short. Based on an average daily trading volume, of 10,810,000 shares, the days-to-cover ratio is presently 1.7 days.

Gerdau Stock Up 0.5 %

Shares of NYSE:GGB traded up $0.02 during trading on Friday, reaching $2.84. 15,201,608 shares of the company traded hands, compared to its average volume of 8,803,218. Gerdau has a 1-year low of $2.67 and a 1-year high of $4.04. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. The firm has a market cap of $5.89 billion, a P/E ratio of 6.19 and a beta of 1.73. The firm has a fifty day simple moving average of $3.18 and a 200 day simple moving average of $3.25.

Gerdau Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, November 21st were paid a $0.0528 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $0.21 dividend on an annualized basis and a yield of 7.45%. This is an increase from Gerdau’s previous quarterly dividend of $0.00. Gerdau’s payout ratio is 41.45%.

Institutional Investors Weigh In On Gerdau

A number of hedge funds and other institutional investors have recently made changes to their positions in GGB. Blue Trust Inc. increased its holdings in Gerdau by 132.8% in the third quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company’s stock worth $29,000 after buying an additional 4,952 shares during the last quarter. Zhang Financial LLC acquired a new position in shares of Gerdau during the 4th quarter worth $34,000. Rehmann Capital Advisory Group bought a new position in shares of Gerdau during the 3rd quarter valued at $37,000. HighTower Advisors LLC acquired a new stake in shares of Gerdau in the 3rd quarter valued at $38,000. Finally, Absolute Gestao de Investimentos Ltda. bought a new stake in Gerdau in the second quarter worth $46,000. 1.49% of the stock is owned by hedge funds and other institutional investors.

Gerdau Company 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.