Gerdau (NYSE:GGB) Sees Large Volume Increase

Gerdau S.A. (NYSE:GGB - Get Free Report) shares saw an uptick in trading volume on Monday . 3,112,520 shares were traded during mid-day trading, a decline of 51% from the previous session's volume of 6,300,942 shares.The stock last traded at $4.46 and had previously closed at $4.32.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised shares of Gerdau from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $5.00 to $6.00 in a report on Monday.

Gerdau Stock Up 3.2 %

The company has a current ratio of 2.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.20. The stock's 50-day moving average is $4.34 and its 200-day moving average is $4.48. The company has a market cap of $7.84 billion, a price-to-earnings ratio of 5.31 and a beta of 1.73.

Gerdau's stock is going to split on Tuesday, April 30th. The 6-5 split was announced on Tuesday, April 30th. The newly created shares will be distributed to shareholders after the closing bell on Tuesday, April 30th.

Gerdau Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.0202 per share. The ex-dividend date was Monday, March 4th. This represents a $0.08 annualized dividend and a yield of 1.81%. Gerdau's payout ratio is 9.52%.

Institutional Trading of Gerdau

Several institutional investors have recently made changes to their positions in the company. Clear Street Markets LLC bought a new position in Gerdau during the fourth quarter valued at about $38,000. Atlas Capital Advisors LLC lifted its holdings in shares of Gerdau by 424.8% in the fourth quarter. Atlas Capital Advisors LLC now owns 7,353 shares of the basic materials company's stock worth $41,000 after buying an additional 5,952 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Gerdau in the first quarter worth about $37,000. Fortis Capital Advisors LLC purchased a new stake in Gerdau in the first quarter valued at approximately $37,000. Finally, Blue Trust Inc. raised its stake in Gerdau by 175.0% in the fourth quarter. Blue Trust Inc. now owns 8,074 shares of the basic materials company's stock valued at $39,000 after purchasing an additional 5,138 shares in the last quarter. Institutional investors own 1.49% of the company's stock.

Gerdau Company Profile

Gerdau SA, together with its subsidiaries, operates as a steel producer company. It operates through Brazil Business, North America Business, South America Business, and Special Steel Business divisions. The company 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.