Gerdau S.A. (NYSE:GGB – Get Free Report) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 18,180,000 shares, a growth of 19.8% from the December 15th total of 15,180,000 shares. Based on an average trading volume of 10,810,000 shares, the short-interest ratio is presently 1.7 days. Currently, 1.4% of the shares of the stock are short sold.
Institutional Trading of Gerdau
Several hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC boosted its position in Gerdau by 11.1% during the 3rd quarter. FMR LLC now owns 88,979,025 shares of the basic materials company’s stock worth $311,427,000 after buying an additional 8,898,975 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Gerdau during the third quarter valued at $29,750,000. Marshall Wace LLP lifted its holdings in shares of Gerdau by 1,988.2% during the second quarter. Marshall Wace LLP now owns 6,186,152 shares of the basic materials company’s stock worth $20,414,000 after purchasing an additional 5,889,913 shares during the period. Two Sigma Advisers LP grew its stake in shares of Gerdau by 298.1% in the third quarter. Two Sigma Advisers LP now owns 6,097,460 shares of the basic materials company’s stock worth $21,341,000 after purchasing an additional 4,565,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Gerdau by 15.1% in the second quarter. Dimensional Fund Advisors LP now owns 16,005,117 shares of the basic materials company’s stock valued at $52,825,000 after purchasing an additional 2,100,969 shares during the period. 1.49% of the stock is currently owned by institutional investors.
Gerdau Price Performance
Shares of NYSE GGB traded up $0.02 during mid-day trading on Friday, hitting $2.84. 15,201,608 shares of the stock traded hands, compared to its average volume of 8,803,218. The company has a market cap of $5.89 billion, a PE ratio of 6.19 and a beta of 1.73. Gerdau has a twelve month low of $2.67 and a twelve month high of $4.04. 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 firm has a 50 day simple moving average of $3.18 and a two-hundred day simple moving average of $3.25.
Gerdau Increases Dividend
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.
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