SSAB (OTCMKTS:SSAAY) Shares Gap Down - Here's What Happened

Shares of SSAB (OTCMKTS:SSAAY - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $3.31, but opened at $3.17. SSAB shares last traded at $3.17, with a volume of 131 shares traded.

Analysts Set New Price Targets

SSAAY has been the topic of several research reports. Nordea Equity Research cut shares of SSAB to a "hold" rating in a report on Wednesday, April 23rd. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of SSAB in a report on Monday, April 14th.

SSAB Stock Down 6.9%

The company has a quick ratio of 1.54, a current ratio of 2.71 and a debt-to-equity ratio of 0.09. The company's fifty day moving average is $3.08 and its 200-day moving average is $2.94. The company has a market cap of $5.92 billion, a PE ratio of 13.50 and a beta of 1.29.

SSAB (OTCMKTS:SSAAY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The basic materials company reported $0.10 earnings per share for the quarter. The business had revenue of $2.65 billion for the quarter. SSAB had a net margin of 4.62% and a return on equity of 6.69%. On average, analysts predict that SSAB will post 0.24 EPS for the current year.

SSAB Cuts Dividend

The company also recently announced a dividend, which was paid on Thursday, May 22nd. Investors of record on Monday, May 5th were paid a dividend of $0.0768 per share. This represents a dividend yield of 2.46%. The ex-dividend date was Friday, May 2nd. SSAB's dividend payout ratio (DPR) is 40.91%.

About SSAB

SSAB AB (publ) produces and sells steel products in Sweden, Finland, Rest of Europe, the United States, and internationally. It operates through five segments: SSAB Special Steels, SSAB Europe, SSAB Americas, Tibnor, and Ruukki Construction. The SSAB Special Steels segment offers quenched and tempered steels, and advanced high-strength steel products for steel and plate production.