Gerdau S.A. (NYSE:GGB) Short Interest Update

Gerdau S.A. (NYSE:GGBGet Free Report) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 7,830,000 shares, an increase of 105.5% from the April 30th total of 3,810,000 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily volume of 9,810,000 shares, the short-interest ratio is presently 0.8 days.

Gerdau Stock Performance

Shares of Gerdau stock opened at $3.49 on Friday. Gerdau has a one year low of $3.42 and a one year high of $5.13. The company has a market cap of $7.36 billion, a price-to-earnings ratio of 5.74 and a beta of 1.74. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.29 and a current ratio of 2.79. The business’s 50 day moving average price is $3.57 and its 200 day moving average price is $3.68.

Gerdau (NYSE:GGBGet Free Report) last posted its earnings results on Friday, May 3rd. The basic materials company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Gerdau had a return on equity of 11.04% and a net margin of 9.57%. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.22 billion. On average, research analysts predict that Gerdau will post 0.49 EPS for the current year.

Gerdau Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 4th. Stockholders of record on Monday, May 20th will be paid a $0.055 dividend. The ex-dividend date is Friday, May 17th. This is a boost from Gerdau’s previous quarterly dividend of $0.02. This represents a $0.22 dividend on an annualized basis and a dividend yield of 6.30%. Gerdau’s payout ratio is presently 36.16%.

Wall Street Analysts Forecast Growth

Several analysts have commented on GGB shares. JPMorgan Chase & Co. raised Gerdau from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $4.17 to $5.00 in a report on Monday, April 15th. Bank of America upgraded Gerdau from a “neutral” rating to a “buy” rating and raised their target price for the company from $4.50 to $5.00 in a research report on Friday, May 24th.

Check Out Our Latest Stock Report on Gerdau

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital International Investors lifted its holdings in Gerdau by 0.4% during the 1st quarter. Capital International Investors now owns 92,086,997 shares of the basic materials company’s stock worth $407,025,000 after buying an additional 378,125 shares during the last quarter. FMR LLC raised its stake in Gerdau by 233,911.9% during the 3rd quarter. FMR LLC now owns 21,559,513 shares of the basic materials company’s stock valued at $102,839,000 after acquiring an additional 21,550,300 shares during the last quarter. Contrarian Capital Management L.L.C. raised its stake in Gerdau by 3.1% during the 4th quarter. Contrarian Capital Management L.L.C. now owns 18,240,285 shares of the basic materials company’s stock valued at $88,465,000 after acquiring an additional 547,234 shares during the last quarter. Itau Unibanco Holding S.A. increased its position in Gerdau by 12.0% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 10,352,092 shares of the basic materials company’s stock worth $49,379,000 after purchasing an additional 1,109,470 shares during the period. Finally, AQR Capital Management LLC increased its position in Gerdau by 92.5% during the 3rd quarter. AQR Capital Management LLC now owns 4,520,646 shares of the basic materials company’s stock worth $21,563,000 after purchasing an additional 2,172,396 shares during the period. 1.49% of the stock is owned by institutional investors and hedge funds.

About Gerdau

(Get Free Report)

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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