Gerdau (NYSE:GGB) Sees Large Volume Increase - Time to Buy?

Gerdau S.A. (NYSE:GGB - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 8,919,435 shares were traded during trading, an increase of 12% from the previous session's volume of 7,929,212 shares.The stock last traded at $3.16 and had previously closed at $3.22.

Gerdau Stock Performance

The firm has a market capitalization of $6.69 billion, a PE ratio of 5.20 and a beta of 1.74. The company has a current ratio of 2.83, a quick ratio of 1.36 and a debt-to-equity ratio of 0.21. The business's 50 day simple moving average is $3.32 and its two-hundred day simple moving average is $3.37.

Gerdau (NYSE:GGB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.01 billion. Gerdau had a return on equity of 8.43% and a net margin of 7.88%. Research analysts expect that Gerdau S.A. will post 0.61 earnings per share for the current fiscal year.

Gerdau Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 6.93%. This is a positive change from Gerdau's previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, August 13th. Gerdau's dividend payout ratio is 13.11%.

Institutional Investors Weigh In On Gerdau

A number of institutional investors have recently bought and sold shares of GGB. Insight 2811 Inc. purchased a new stake in Gerdau in the 2nd quarter worth $36,000. Wedbush Securities Inc. purchased a new stake in Gerdau in the 2nd quarter worth $38,000. Ballentine Partners LLC purchased a new stake in Gerdau in the 1st quarter worth $44,000. Absolute Gestao de Investimentos Ltda. purchased a new stake in Gerdau in the 2nd quarter worth $46,000. Finally, Prosperity Consulting Group LLC purchased a new stake in Gerdau in the 1st quarter worth $53,000. 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.