Gerdau (NYSE:GGB) Sets New 12-Month Low – What’s Next?

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

Gerdau Trading Down 3.5 %

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

Gerdau Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, November 21st were issued a dividend of $0.0528 per share. This represents a $0.21 dividend on an annualized basis and a yield of 7.71%. This is an increase from Gerdau’s previous quarterly dividend of $0.00. The ex-dividend date was Thursday, November 21st. Gerdau’s payout ratio is presently 39.13%.

Institutional Investors Weigh In On Gerdau

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in shares of Gerdau by 11.1% in the 3rd quarter. FMR LLC now owns 88,979,025 shares of the basic materials company’s stock valued at $311,427,000 after buying an additional 8,898,975 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Gerdau during the third quarter worth approximately $29,750,000. Marshall Wace LLP lifted its holdings in Gerdau by 1,988.2% in the second quarter. Marshall Wace LLP now owns 6,186,152 shares of the basic materials company’s stock valued at $20,414,000 after buying an additional 5,889,913 shares during the period. Two Sigma Advisers LP boosted its stake in Gerdau by 298.1% in the third quarter. Two Sigma Advisers LP now owns 6,097,460 shares of the basic materials company’s stock valued at $21,341,000 after acquiring an additional 4,565,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Gerdau by 15.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 16,005,117 shares of the basic materials company’s stock valued at $52,825,000 after purchasing an additional 2,100,969 shares during the period. 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. 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.