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

Shares of Gerdau S.A. (NYSE:GGB) hit a new 52-week low during trading on Thursday . The stock traded as low as $2.85 and last traded at $2.86, with a volume of 111667 shares. The stock had previously closed at $2.88.

Gerdau Stock Down 2.8 %

The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of 6.11 and a beta of 1.73. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.98. The firm’s fifty day simple moving average is $3.26 and its 200 day simple moving average is $3.27.

Gerdau Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, November 21st were given a $0.0528 dividend. This is a boost from Gerdau’s previous quarterly dividend of $0.00. This represents a $0.21 annualized dividend and a yield of 7.54%. The ex-dividend date was Thursday, November 21st. Gerdau’s payout ratio is currently 39.13%.

Hedge Funds Weigh In On Gerdau

A number of large investors have recently added to or reduced their stakes in GGB. Abacus Wealth Partners LLC grew its holdings in shares of Gerdau by 23.2% during the third 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 in the last quarter. Inspire Advisors LLC raised its holdings in shares of Gerdau by 10.2% in the third quarter. Inspire Advisors LLC now owns 45,892 shares of the basic materials company’s stock valued at $161,000 after purchasing an additional 4,229 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Gerdau by 132.8% in 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 in the last quarter. Johnson Investment Counsel Inc. grew its position in Gerdau by 20.0% in the second quarter. Johnson Investment Counsel Inc. now owns 32,760 shares of the basic materials company’s stock valued at $108,000 after purchasing an additional 5,460 shares in the last quarter. Finally, Ballentine Partners LLC increased its stake in Gerdau by 61.3% in the 3rd quarter. Ballentine Partners LLC now owns 18,164 shares of the basic materials company’s stock valued at $64,000 after buying an additional 6,906 shares during the last quarter. 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.