Gerdau (NYSE:GGB) Sees Large Volume Increase – Here’s Why

by · The Markets Daily

Gerdau S.A. (NYSE:GGB – Get Free Report) saw strong trading volume on Wednesday . 11,341,665 shares changed hands during trading, an increase of 38% from the previous session’s volume of 8,195,076 shares.The stock last traded at $3.36 and had previously closed at $3.10.

Gerdau Stock Up 12.1 %

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 company has a market cap of $7.33 billion, a PE ratio of 7.12 and a beta of 1.75. The company’s 50 day moving average is $3.30 and its 200 day moving average is $3.32.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Abacus Wealth Partners LLC grew its stake in Gerdau by 23.2% during the 3rd quarter. Abacus Wealth Partners LLC now owns 17,173 shares of the basic materials company’s stock worth $60,000 after buying an additional 3,235 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in Gerdau by 5.5% in the second quarter. QRG Capital Management Inc. now owns 70,404 shares of the basic materials company’s stock valued at $232,000 after acquiring an additional 3,640 shares during the period. Inspire Advisors LLC grew its stake in shares of 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 purchasing an additional 4,229 shares during the period. Blue Trust Inc. grew its position in Gerdau by 132.8% during the third quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company’s stock valued at $29,000 after buying an additional 4,952 shares during the period. Finally, Johnson Investment Counsel Inc. boosted its stake 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 worth $108,000 after acquiring an additional 5,460 shares in the last quarter. 1.49% of the stock is owned by institutional investors.

About Gerdau

(Get Free Report)

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.

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