Gerdau (NYSE:GGB) Sees Large Volume Increase

Shares of Gerdau S.A. (NYSE:GGBGet Free Report) saw an uptick in trading volume on Wednesday . 5,456,606 shares traded hands during trading, a decline of 34% from the previous session’s volume of 8,289,387 shares.The stock last traded at $3.76 and had previously closed at $3.74.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. raised Gerdau from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $4.17 to $5.00 in a research report on Monday, April 15th.

View Our Latest Report on Gerdau

Gerdau Stock Performance

The company has a current ratio of 2.79, a quick ratio of 1.29 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $8.14 billion, a PE ratio of 6.26 and a beta of 1.74. The firm’s 50-day simple moving average is $3.55 and its 200-day simple moving average is $3.69.

Gerdau (NYSE:GGBGet Free Report) last announced its quarterly earnings data on Thursday, March 28th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter. The company had revenue of $2.97 billion for the quarter. Gerdau had a return on equity of 11.04% and a net margin of 9.57%. On average, research analysts predict that Gerdau S.A. will post 0.43 earnings per share for the current year.

Gerdau Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 4th. Shareholders of record on Monday, May 20th will be issued a dividend of $0.055 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $0.22 dividend on an annualized basis and a yield of 5.70%. This is a positive change from Gerdau’s previous quarterly dividend of $0.02. Gerdau’s dividend payout ratio is currently 11.51%.

Hedge Funds Weigh In On Gerdau

Institutional investors and hedge funds have recently modified their holdings of the business. FMR LLC boosted its holdings in shares of Gerdau by 233,911.9% during the 3rd quarter. FMR LLC now owns 21,559,513 shares of the basic materials company’s stock worth $102,839,000 after purchasing an additional 21,550,300 shares during the last quarter. Capital International Investors raised its position in Gerdau by 7.3% in the fourth quarter. Capital International Investors now owns 91,708,872 shares of the basic materials company’s stock valued at $444,788,000 after purchasing an additional 6,268,313 shares during the period. AQR Capital Management LLC raised its position in Gerdau by 92.5% in the third quarter. AQR Capital Management LLC now owns 4,520,646 shares of the basic materials company’s stock valued at $21,563,000 after purchasing an additional 2,172,396 shares during the period. Moneda S.A. Administradora General de Fondos raised its position in Gerdau by 36.8% in the third quarter. Moneda S.A. Administradora General de Fondos now owns 4,759,360 shares of the basic materials company’s stock valued at $22,702,000 after purchasing an additional 1,280,989 shares during the period. Finally, Itau Unibanco Holding S.A. raised its position in Gerdau by 12.0% in the third quarter. Itau Unibanco Holding S.A. now owns 10,352,092 shares of the basic materials company’s stock valued at $49,379,000 after purchasing an additional 1,109,470 shares during the period. Hedge funds and other institutional investors own 1.49% of the company’s stock.

About Gerdau

(Get Free Report)

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.

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