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

Gerdau S.A. (NYSE:GGB) was the recipient of a large growth in short interest in 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. Currently, 1.1% of the company’s stock are short sold. Based on an average trading volume of 11,250,000 shares, the days-to-cover ratio is presently 1.3 days.

Gerdau Stock Performance

GGB traded down $0.01 on Monday, reaching $2.90. The company had a trading volume of 8,288,394 shares, compared to its average volume of 8,658,086. The stock has a 50-day moving average price of $3.29 and a 200-day moving average price of $3.29. The stock has a market capitalization of $6.03 billion, a PE ratio of 6.33 and a beta of 1.73. Gerdau has a 1 year low of $2.86 and a 1 year high of $4.08. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21.

Gerdau Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, November 21st were given a $0.0528 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This is a boost from Gerdau’s previous quarterly dividend of $0.00. This represents a $0.21 dividend on an annualized basis and a dividend yield of 7.28%. Gerdau’s dividend payout ratio is 39.13%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Abacus Wealth Partners LLC grew its position in shares of Gerdau by 23.2% during the third quarter. Abacus Wealth Partners LLC now owns 17,173 shares of the basic materials company’s stock worth $60,000 after acquiring an additional 3,235 shares during the last quarter. Inspire Advisors LLC increased its stake in Gerdau by 10.2% in the third quarter. Inspire Advisors LLC now owns 45,892 shares of the basic materials company’s stock valued at $161,000 after purchasing an additional 4,229 shares during the period. Blue Trust Inc. raised its holdings in shares of Gerdau by 132.8% in the third quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company’s stock valued at $29,000 after buying an additional 4,952 shares during the last quarter. Johnson Investment Counsel Inc. boosted its stake in shares of Gerdau by 20.0% during the second quarter. Johnson Investment Counsel Inc. now owns 32,760 shares of the basic materials company’s stock worth $108,000 after buying an additional 5,460 shares during the period. Finally, Ballentine Partners LLC grew its holdings in shares of Gerdau by 61.3% during the third quarter. Ballentine Partners LLC now owns 18,164 shares of the basic materials company’s stock worth $64,000 after buying an additional 6,906 shares during the last quarter. Institutional investors and hedge funds 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.