Gerdau S.A. (NYSE:GGB - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.88 and traded as high as $3.02. Gerdau shares last traded at $2.96, with a volume of 13,174,794 shares.
Analyst Upgrades and Downgrades
A number of analysts have weighed in on GGB shares. Bank of America reissued a "neutral" rating on shares of Gerdau in a report on Monday, April 7th. UBS Group raised shares of Gerdau from a "neutral" rating to a "buy" rating and increased their target price for the stock from $2.90 to $3.80 in a report on Monday, June 9th.
Read Our Latest Report on GGB
Gerdau Stock Down 3.2%
The company has a debt-to-equity ratio of 0.24, a current ratio of 2.64 and a quick ratio of 1.28. The stock's fifty day simple moving average is $2.75 and its two-hundred day simple moving average is $2.86. The company has a market capitalization of $5.93 billion, a price-to-earnings ratio of 9.85, a PEG ratio of 2.86 and a beta of 1.38.
Gerdau Increases Dividend
The company also recently disclosed a dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 13th were issued a $0.0188 dividend. This represents a dividend yield of 2.95%. The ex-dividend date was Monday, May 12th. This is a boost from Gerdau's previous dividend of $0.00. Gerdau's dividend payout ratio (DPR) is 27.59%.
Institutional Trading of Gerdau
A number of large investors have recently modified their holdings of GGB. Wealthfront Advisers LLC acquired a new stake in shares of Gerdau in the 4th quarter worth about $32,000. Private Advisor Group LLC acquired a new stake in shares of Gerdau in the 4th quarter worth about $32,000. Wolverine Trading LLC acquired a new stake in shares of Gerdau in the 4th quarter worth about $37,000. Carrera Capital Advisors acquired a new stake in shares of Gerdau in the 4th quarter worth about $40,000. Finally, Xponance Inc. acquired a new stake in shares of Gerdau in the 1st quarter worth about $40,000. Institutional investors and hedge funds own 1.49% of the company's stock.
About Gerdau
(
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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.
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