Gerdau (NYSE:GGB) Sees Large Volume Increase

Shares of Gerdau S.A. (NYSE:GGB) saw unusually-strong trading volume on Monday . Approximately 6,869,086 shares traded hands during trading, a decline of 13% from the previous session’s volume of 7,913,231 shares.The stock last traded at $3.83 and had previously closed at $3.66.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. raised shares of Gerdau from a “neutral” rating to an “overweight” rating and raised their price target for the company from $5.00 to $6.00 in a research note on Monday, April 15th.

Gerdau Stock Down 3.7 %

The stock has a 50-day moving average price of $4.29 and a 200-day moving average price of $4.45. 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 company has a market capitalization of $7.72 billion, a P/E ratio of 5.23 and a beta of 1.73.

Gerdau shares are going to split before the market opens on Tuesday, April 30th. The 6-5 split was announced on Tuesday, April 30th. The newly minted shares will be issued to shareholders after the closing bell on Tuesday, April 30th.

Gerdau (NYSE:GGB) last posted its quarterly earnings data on Thursday, March 28th. The basic materials company reported $0.07 EPS for the quarter. Gerdau had a net margin of 10.80% and a return on equity of 15.05%. The company had revenue of $2.97 billion for the quarter. On average, research analysts predict that Gerdau S.A. will post 0.43 EPS for the current fiscal year.

Gerdau Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were given a $0.0202 dividend. This represents a $0.08 annualized dividend and a dividend yield of 2.21%. The ex-dividend date was Monday, March 4th. Gerdau’s dividend payout ratio (DPR) is presently 10.00%.

Institutional Investors Weigh In On Gerdau

Several institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its holdings in Gerdau by 175.0% in the fourth quarter. Blue Trust Inc. now owns 8,074 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 5,138 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Gerdau during the 1st quarter worth approximately $44,000. Systematic Alpha Investments LLC bought a new stake in shares of Gerdau in the 3rd quarter valued at $46,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Gerdau during the 3rd quarter valued at $55,000. Finally, IPG Investment Advisors LLC acquired a new position in shares of Gerdau during the 4th quarter valued at $55,000. Institutional investors own 1.49% of the company’s stock.

About Gerdau

Gerdau SA, together with its subsidiaries, operates as a steel producer company. It operates through Brazil Business, North America Business, South America Business, and Special Steel Business divisions. The company 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.