Gerdau (NYSE:GGB) Hits New 52-Week Low – Here’s Why

Gerdau S.A. (NYSE:GGB) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $2.75 and last traded at $2.76, with a volume of 1847659 shares traded. The stock had previously closed at $2.84.

Gerdau Price Performance

The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 5.98 and a beta of 1.73. The company has a 50-day moving average price of $3.24 and a 200-day moving average price of $3.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.98.

Gerdau Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, November 21st were given a dividend of $0.0528 per share. This represents a $0.21 dividend on an annualized basis and a dividend yield of 7.71%. This is a boost from Gerdau’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Thursday, November 21st. Gerdau’s dividend payout ratio (DPR) is currently 39.13%.

Institutional Trading of Gerdau

Hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in shares of Gerdau by 132.8% during the third quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 4,952 shares during the period. Rehmann Capital Advisory Group acquired a new stake in shares of Gerdau during the third quarter worth $37,000. Wedbush Securities Inc. bought a new stake in shares of Gerdau in the second quarter valued at about $38,000. HighTower Advisors LLC bought a new position in shares of Gerdau in the third quarter valued at $38,000. Finally, Absolute Gestao de Investimentos Ltda. acquired a new position in Gerdau in the 2nd quarter valued at about $46,000. Institutional investors and hedge funds own 1.49% of the company’s stock.

Gerdau Company Profile

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.