Gerdau S.A. (NYSE:GGB – Get Rating) shares saw an uptick in trading volume on Friday . 849,796 shares were traded during trading, a decline of 94% from the previous session's volume of 13,823,323 shares.The stock last traded at $4.67 and had previously closed at $4.56.
Gerdau Trading Up 5.0 %
The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 2.62, a PEG ratio of 0.14 and a beta of 1.60. The company's 50 day moving average is $4.59 and its 200 day moving average is $5.27. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.11 and a current ratio of 2.22.
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Gerdau Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Wednesday, August 17th were paid a $0.137 dividend. This is a boost from Gerdau's previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, August 16th. This represents a $0.55 dividend on an annualized basis and a dividend yield of 11.44%. Gerdau's dividend payout ratio is currently 30.60%.
Hedge Funds Weigh In On Gerdau
A number of hedge funds have recently made changes to their positions in the business. Centiva Capital LP acquired a new position in shares of Gerdau in the 2nd quarter valued at $85,000. Macquarie Group Ltd. acquired a new position in shares of Gerdau in the 2nd quarter valued at $703,000. Thrivent Financial for Lutherans raised its stake in shares of Gerdau by 13.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 122,352 shares of the basic materials company's stock valued at $525,000 after buying an additional 14,166 shares in the last quarter. Prudential Financial Inc. acquired a new position in shares of Gerdau in the 2nd quarter valued at $53,000. Finally, Dynamo Internacional Gestao DE Recursos LTDA. raised its stake in shares of Gerdau by 38.5% in the 2nd quarter. Dynamo Internacional Gestao DE Recursos LTDA. now owns 3,243,811 shares of the basic materials company's stock valued at $13,916,000 after buying an additional 901,171 shares in the last quarter. Institutional investors and hedge funds own 2.12% of the company's stock.
About Gerdau
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Gerdau SA provides steel products and services. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It offers 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; finished industrial products, including commercial rolled-steel bars, and light profiles and wires; agricultural products that include stakes and smooth wire products; and drawn products comprises barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire meshes, nails, and clamps.
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