Short Interest in Gerdau S.A. (NYSE:GGB) Rises By 40.9%

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

Gerdau Stock Performance

Gerdau stock traded down $0.01 during midday trading on Monday, hitting $2.90. 8,289,392 shares of the company were exchanged, compared to its average volume of 8,661,229. Gerdau has a fifty-two week low of $2.86 and a fifty-two week high of $4.08. The firm has a market capitalization of $6.03 billion, a PE ratio of 6.33 and a beta of 1.73. The business has a fifty day simple moving average of $3.29 and a two-hundred day simple moving average of $3.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.98.

Gerdau Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in GGB. FMR LLC grew its stake in Gerdau by 11.1% in the 3rd quarter. FMR LLC now owns 88,979,025 shares of the basic materials company’s stock valued at $311,427,000 after acquiring an additional 8,898,975 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Gerdau during the third quarter worth about $29,750,000. Marshall Wace LLP lifted its stake in Gerdau by 1,988.2% in the 2nd quarter. Marshall Wace LLP now owns 6,186,152 shares of the basic materials company’s stock valued at $20,414,000 after buying an additional 5,889,913 shares in the last quarter. Two Sigma Advisers LP lifted its stake in Gerdau by 298.1% in the 3rd quarter. Two Sigma Advisers LP now owns 6,097,460 shares of the basic materials company’s stock valued at $21,341,000 after buying an additional 4,565,900 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Gerdau by 48.1% in the 2nd quarter. Acadian Asset Management LLC now owns 13,391,548 shares of the basic materials company’s stock worth $44,181,000 after buying an additional 4,351,666 shares during the last quarter. Hedge funds and other institutional investors own 1.49% of the company’s stock.

About Gerdau

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.