Gerdau SA (GGB) Sees Large Volume Increase
Shares of Gerdau SA (NYSE:GGB) saw unusually-strong trading volume on Wednesday . Approximately 17,379,269 shares traded hands during mid-day trading, an increase of 103% from the previous session’s volume of 8,562,481 shares.The stock last traded at $2.09 and had previously closed at $2.01.
A number of equities research analysts recently commented on GGB shares. Zacks Investment Research cut shares of Gerdau SA from a “hold” rating to a “sell” rating in a report on Tuesday, March 29th. Bank of America Corp. reiterated a “buy” rating on shares of Gerdau SA in a research note on Sunday, May 22nd.
The firm’s market capitalization is $3.51 billion. The firm’s 50-day moving average price is $1.74 and its 200-day moving average price is $1.51.
A number of institutional investors recently bought and sold shares of GGB. Boston Partners boosted its position in Gerdau SA by 20.0% in the fourth quarter. Boston Partners now owns 1,200,000 shares of the company’s stock valued at $1,440,000 after buying an additional 200,000 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Gerdau SA by 10.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 2,536,233 shares of the company’s stock worth $3,043,000 after buying an additional 245,798 shares during the last quarter. Finally, Russell Frank Co boosted its position in shares of Gerdau SA by 737.0% in the fourth quarter. Russell Frank Co now owns 4,383,030 shares of the company’s stock worth $5,216,000 after buying an additional 3,859,386 shares during the last quarter.
Gerdau SA (Gerdau) is a producer of long rolled steel. The Company operates in five segments: Brazil (Brazil Business Operation), which includes the steel operations in Brazil (except special steel) and the metallurgical and coking coal operation in Colombia; North America (North America Business Operation), which includes all North American operations, except Mexico and special steel; Latin America (Latin America Business Operation), which includes all Latin American operations, except the operations in Brazil and the metallurgical and coking coal operations in Colombia; Special Steel (Special Steel Business Operation), which includes the special steel operations in Brazil, Spain, the United States and India, and Iron Ore (Iron Ore Business Operation), which includes the iron ore operations in Brazil.
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