Gerdau S.A. (NYSE:GGB) Short Interest Up 19.8% in January

Gerdau S.A. (NYSE:GGB - Get Free Report) saw a significant growth in short interest in January. As of January 15th, there was short interest totalling 18,180,000 shares, a growth of 19.8% from the December 31st total of 15,180,000 shares. Approximately 1.4% of the company's shares are short sold. Based on an average trading volume of 10,810,000 shares, the short-interest ratio is presently 1.7 days.

Gerdau Trading Down 1.5 %

Shares of GGB stock traded down $0.05 during mid-day trading on Wednesday, reaching $2.90. The company's stock had a trading volume of 9,029,155 shares, compared to its average volume of 8,707,328. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $6.02 billion, a PE ratio of 6.32 and a beta of 1.73. The company's 50 day simple moving average is $3.06 and its 200-day simple moving average is $3.21. Gerdau has a 12-month low of $2.67 and a 12-month high of $4.04.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of GGB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Gerdau by 307.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,037,480 shares of the basic materials company's stock valued at $3,631,000 after purchasing an additional 782,980 shares in the last quarter. Walleye Capital LLC boosted its position in Gerdau by 42.3% in the 3rd quarter. Walleye Capital LLC now owns 1,295,926 shares of the basic materials company's stock valued at $4,536,000 after buying an additional 385,535 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of Gerdau by 298.1% during the third quarter. Two Sigma Advisers LP now owns 6,097,460 shares of the basic materials company's stock valued at $21,341,000 after acquiring an additional 4,565,900 shares in the last quarter. State Street Corp increased its position in shares of Gerdau by 1.4% during the third quarter. State Street Corp now owns 2,865,244 shares of the basic materials company's stock worth $10,028,000 after acquiring an additional 40,702 shares during the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Gerdau in the third quarter worth about $1,741,000. 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.