Gerdau (NYSE:GGB) Sees Strong Trading Volume

Gerdau S.A. (NYSE:GGB) saw unusually-strong trading volume on Friday . Approximately 21,532,948 shares were traded during trading, an increase of 162% from the previous session’s volume of 8,217,913 shares.The stock last traded at $3.84 and had previously closed at $3.61.

Wall Street Analyst Weigh In

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

Gerdau Stock Performance

The business’s fifty day simple moving average is $3.53 and its 200-day simple moving average is $3.69. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.24 and a current ratio of 2.59. The firm has a market capitalization of $8.01 billion, a PE ratio of 5.43 and a beta of 1.75.

Gerdau (NYSE:GGB) last announced its quarterly earnings results on Thursday, March 28th. The basic materials company reported $0.06 EPS for the quarter. Gerdau had a return on equity of 15.05% and a net margin of 10.80%. The company had revenue of $2.97 billion during the quarter. As a group, equities research analysts expect that Gerdau S.A. will post 0.43 EPS for the current year.

Gerdau Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.0169 per share. The ex-dividend date was Monday, March 4th. This represents a $0.07 annualized dividend and a yield of 1.77%. Gerdau’s dividend payout ratio (DPR) is currently 10.00%.

Institutional Trading of Gerdau

Several hedge funds have recently made changes to their positions in the business. Blue Trust Inc. lifted its stake in shares of Gerdau by 175.0% in the 4th quarter. Blue Trust Inc. now owns 8,074 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 5,138 shares during the last quarter. Ballentine Partners LLC purchased a new position in Gerdau during the first quarter worth $44,000. Systematic Alpha Investments LLC bought a new position in Gerdau during the third quarter valued at $46,000. Prosperity Consulting Group LLC purchased a new stake in shares of Gerdau in the first quarter valued at $53,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Gerdau in the 3rd quarter worth about $55,000. 1.49% of the stock is currently 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.