Gerdau S.A. (NYSE:GGB – Get Free Report)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $4.11 and last traded at $4.14, with a volume of 7739829 shares changing hands. The stock had previously closed at $4.24.
Analyst Ratings Changes
Separately, Bank of America cut shares of Gerdau from a “buy” rating to a “neutral” rating and lowered their price target for the company from $5.60 to $5.10 in a report on Monday, November 20th.
Gerdau Stock Performance
The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 4.27 and a beta of 1.73. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.43 and a current ratio of 2.93. The stock’s 50-day simple moving average is $4.32 and its two-hundred day simple moving average is $4.59.
Gerdau Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th will be paid a dividend of $0.0202 per share. The ex-dividend date is Monday, March 4th. This represents a $0.08 annualized dividend and a yield of 1.95%. Gerdau’s dividend payout ratio is 8.25%.
Institutional Trading of Gerdau
Several large investors have recently added to or reduced their stakes in GGB. Boston Partners bought a new stake in shares of Gerdau during the third quarter valued at approximately $856,000. Moneda S.A. Administradora General de Fondos grew its stake in shares of Gerdau by 36.8% during the third quarter. Moneda S.A. Administradora General de Fondos now owns 4,759,360 shares of the basic materials company’s stock valued at $22,702,000 after purchasing an additional 1,280,989 shares during the last quarter. Jump Financial LLC grew its stake in shares of Gerdau by 1,475.8% during the third quarter. Jump Financial LLC now owns 321,503 shares of the basic materials company’s stock valued at $1,534,000 after purchasing an additional 301,100 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Gerdau during the third quarter valued at approximately $274,000. Finally, FMR LLC grew its stake in shares of Gerdau by 233,911.9% during the third quarter. FMR LLC now owns 21,559,513 shares of the basic materials company’s stock valued at $102,839,000 after purchasing an additional 21,550,300 shares during the last quarter. 2.64% of the stock is owned by institutional investors.
About Gerdau
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.