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

Gerdau S.A. (NYSE:GGB) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 5,220,000 shares, a decrease of 22.8% from the October 15th total of 6,760,000 shares. Based on an average daily volume of 9,280,000 shares, the short-interest ratio is currently 0.6 days. Currently, 0.4% of the shares of the stock are sold short.

Gerdau Price Performance

Gerdau stock opened at $3.41 on Friday. The firm has a market capitalization of $7.18 billion, a price-to-earnings ratio of 7.48 and a beta of 1.75. 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 company has a fifty day simple moving average of $3.32 and a 200-day simple moving average of $3.34. Gerdau has a 52-week low of $2.92 and a 52-week high of $4.21.

Gerdau Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, November 21st will be given 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 yield of 6.20%. The ex-dividend date of this dividend is Thursday, November 21st. Gerdau’s payout ratio is currently 19.64%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. lifted its position in 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 acquiring an additional 4,952 shares during the last quarter. Insight 2811 Inc. purchased a new position in Gerdau in the 2nd quarter valued at $36,000. Wedbush Securities Inc. acquired a new position in Gerdau in the 2nd quarter valued at $38,000. Absolute Gestao de Investimentos Ltda. purchased a new position in Gerdau during the 2nd quarter worth $46,000. Finally, MQS Management LLC acquired a new stake in shares of Gerdau in the 3rd quarter worth $56,000. 1.49% of the stock is 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.