Gerdau (NYSE:GGB) Sees Strong Trading Volume

Shares of Gerdau S.A. (NYSE:GGB) saw unusually-strong trading volume on Friday . Approximately 21,532,948 shares changed hands during mid-day 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.

Analyst Upgrades and Downgrades

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

Gerdau Trading Up 5.3 %

The company has a debt-to-equity ratio of 0.20, a current ratio of 2.59 and a quick ratio of 1.24. The firm’s fifty day moving average is $3.53 and its two-hundred day moving average is $3.69. 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 released its earnings results on Thursday, March 28th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter. The company had revenue of $2.97 billion during the quarter. Gerdau had a return on equity of 15.05% and a net margin of 10.80%. On average, equities analysts predict that Gerdau S.A. will post 0.43 EPS for the current fiscal year.

Gerdau Cuts Dividend

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

Hedge Funds Weigh In On Gerdau

Institutional investors have recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its stake in Gerdau by 22.0% in the third quarter. Raymond James & Associates now owns 22,794 shares of the basic materials company’s stock valued at $109,000 after acquiring an additional 4,105 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Gerdau by 15.6% during the third quarter. Mackenzie Financial Corp now owns 1,010,504 shares of the basic materials company’s stock valued at $4,537,000 after purchasing an additional 136,089 shares during the period. Advisor Partners II LLC increased its position in Gerdau by 6.6% in the third quarter. Advisor Partners II LLC now owns 59,275 shares of the basic materials company’s stock worth $283,000 after buying an additional 3,661 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Gerdau by 4.4% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 522,905 shares of the basic materials company’s stock valued at $2,494,000 after buying an additional 22,210 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Gerdau during the 3rd quarter valued at $55,000. 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.