Gerdau S.A. (NYSE:GGB) Short Interest Up 19.8% in January

Gerdau S.A. (NYSE:GGB) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 18,180,000 shares, a growth of 19.8% from the December 31st total of 15,180,000 shares. Approximately 1.4% of the shares of the 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 Price Performance

GGB stock traded down $0.09 during mid-day trading on Friday, reaching $2.91. 19,254,800 shares of the company traded hands, compared to its average volume of 7,293,933. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53. The company has a market capitalization of $6.04 billion, a P/E ratio of 6.34 and a beta of 1.73. Gerdau has a 52-week low of $2.67 and a 52-week high of $4.04. The company has a fifty day moving average price of $3.08 and a 200-day moving average price of $3.22.

Gerdau Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, November 21st were given a dividend of $0.0528 per share. This represents a $0.21 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date was Thursday, November 21st. This is an increase from Gerdau’s previous quarterly dividend of $0.00. Gerdau’s dividend payout ratio (DPR) is 41.45%.

Institutional Trading of Gerdau

A number of large investors have recently modified their holdings of the business. Abacus Wealth Partners LLC boosted its position in shares of Gerdau by 23.2% during the 3rd quarter. Abacus Wealth Partners LLC now owns 17,173 shares of the basic materials company’s stock valued at $60,000 after acquiring an additional 3,235 shares during the last quarter. Inspire Advisors LLC lifted its position in Gerdau by 10.2% in 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 during the last quarter. Blue Trust Inc. lifted its position in Gerdau by 132.8% in the 3rd 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. Mirae Asset Global Investments Co. Ltd. increased its stake in Gerdau by 10.3% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,116 shares of the basic materials company’s stock worth $204,000 after purchasing an additional 6,555 shares during the period. Finally, Ballentine Partners LLC increased its stake in Gerdau by 61.3% in the 3rd quarter. Ballentine Partners LLC now owns 18,164 shares of the basic materials company’s stock worth $64,000 after purchasing an additional 6,906 shares during the period. Institutional investors own 1.49% of the company’s stock.

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.