Gerdau (NYSE:GGB) Sees Unusually-High Trading Volume – Time to Buy?

Gerdau S.A. (NYSE:GGB) shares saw unusually-high trading volume on Friday . Approximately 23,852,043 shares traded hands during mid-day trading, an increase of 179% from the previous session’s volume of 8,536,406 shares.The stock last traded at $3.29 and had previously closed at $3.40.

Gerdau Trading Down 3.2 %

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 business’s fifty day moving average is $3.35 and its 200 day moving average is $3.30. The stock has a market cap of $6.84 billion, a PE ratio of 7.43 and a beta of 1.73.

Gerdau Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.0528 per share. This is a positive change from Gerdau’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.21 annualized dividend and a dividend yield of 6.42%. Gerdau’s payout ratio is 43.64%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. QRG Capital Management Inc. lifted its stake in Gerdau by 5.5% in the 2nd quarter. QRG Capital Management Inc. now owns 70,404 shares of the basic materials company’s stock valued at $232,000 after buying an additional 3,640 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Gerdau by 27.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 30,308 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 6,558 shares during the last quarter. Diversified Trust Co lifted its holdings in Gerdau by 20.0% in the 2nd quarter. Diversified Trust Co now owns 41,560 shares of the basic materials company’s stock valued at $137,000 after purchasing an additional 6,926 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Gerdau by 19.1% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 549,441 shares of the basic materials company’s stock worth $1,813,000 after purchasing an additional 87,961 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Gerdau by 52.7% during the second quarter. Bank of New York Mellon Corp now owns 284,272 shares of the basic materials company’s stock worth $938,000 after buying an additional 98,126 shares in the last quarter. Institutional investors and hedge funds 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.