Gerdau S.A. (NYSE:GGB) Short Interest Up 40.9% in December

Gerdau S.A. (NYSE:GGB) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 15,180,000 shares, a growth of 40.9% from the November 30th total of 10,770,000 shares. Based on an average daily trading volume, of 11,250,000 shares, the days-to-cover ratio is presently 1.3 days. Approximately 1.1% of the company’s stock are sold short.

Gerdau Stock Down 0.3 %

Shares of NYSE GGB traded down $0.01 during mid-day trading on Monday, reaching $2.90. The company had a trading volume of 8,288,395 shares, compared to its average volume of 8,661,225. The firm has a 50 day simple moving average of $3.29 and a two-hundred day simple moving average of $3.29. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. Gerdau has a 52-week low of $2.86 and a 52-week high of $4.08. The stock has a market cap of $6.03 billion, a P/E ratio of 6.33 and a beta of 1.73.

Gerdau Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, November 21st were given a dividend of $0.0528 per share. This is an increase from Gerdau’s previous quarterly dividend of $0.00. This represents a $0.21 annualized dividend and a yield of 7.28%. The ex-dividend date of this dividend was Thursday, November 21st. Gerdau’s dividend payout ratio (DPR) is presently 39.13%.

Institutional Investors Weigh In On Gerdau

Institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised its stake in shares of Gerdau by 132.8% during the third quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 4,952 shares during the last quarter. Insight 2811 Inc. acquired a new position in shares of Gerdau during the second quarter worth about $36,000. Rehmann Capital Advisory Group purchased a new position in Gerdau during the third quarter worth about $37,000. Wedbush Securities Inc. acquired a new stake in Gerdau in the second quarter valued at about $38,000. Finally, HighTower Advisors LLC purchased a new stake in Gerdau in the 3rd quarter valued at approximately $38,000. 1.49% of the stock is owned by hedge funds and other institutional investors.

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.