Gerdau S.A. (NYSE:GGB) Short Interest Down 22.8% in October

Gerdau S.A. (NYSE:GGB - Get Free Report) was the recipient of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 5,220,000 shares, a drop of 22.8% from the October 15th total of 6,760,000 shares. Currently, 0.4% of the company's shares are sold short. Based on an average daily trading volume, of 9,280,000 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On Gerdau

A number of institutional investors have recently bought and sold shares of GGB. Abacus Wealth Partners LLC raised its stake in Gerdau by 23.2% in the 3rd quarter. Abacus Wealth Partners LLC now owns 17,173 shares of the basic materials company's stock worth $60,000 after purchasing an additional 3,235 shares in the last quarter. QRG Capital Management Inc. grew its position in Gerdau by 5.5% during the second quarter. QRG Capital Management Inc. now owns 70,404 shares of the basic materials company's stock worth $232,000 after buying an additional 3,640 shares in the last quarter. Inspire Advisors LLC increased its stake in Gerdau by 10.2% during the 3rd quarter. Inspire Advisors LLC now owns 45,892 shares of the basic materials company's stock worth $161,000 after acquiring an additional 4,229 shares during the period. Blue Trust Inc. raised its holdings in Gerdau by 132.8% in the 3rd quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company's stock valued at $29,000 after acquiring an additional 4,952 shares in the last quarter. Finally, Johnson Investment Counsel Inc. lifted its position in shares of Gerdau by 20.0% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 32,760 shares of the basic materials company's stock valued at $108,000 after acquiring an additional 5,460 shares during the period. Institutional investors and hedge funds own 1.49% of the company's stock.

Gerdau Trading Up 1.5 %

Shares of GGB traded up $0.05 on Friday, reaching $3.46. 6,092,668 shares of the company's stock were exchanged, compared to its average volume of 8,392,639. Gerdau has a 12 month low of $2.92 and a 12 month high of $4.21. The stock has a market capitalization of $7.30 billion, a P/E ratio of 7.55 and a beta of 1.75. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. The business has a 50 day moving average price of $3.32 and a two-hundred day moving average price of $3.34.

Gerdau Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, November 21st will be given a $0.0528 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.21 dividend on an annualized basis and a yield of 6.11%. This is an increase from Gerdau's previous quarterly dividend of $0.00. Gerdau's dividend payout ratio (DPR) is 19.64%.

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.