Gerdau (NYSE:GGB) Sets New 1-Year Low – Here’s What Happened

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

Gerdau Price Performance

The company has a market capitalization of $5.95 billion, a PE ratio of 6.24 and a beta of 1.73. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53. The stock’s 50 day simple moving average is $3.27 and its 200-day simple moving average is $3.28.

Gerdau Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, November 21st were paid a dividend of $0.0528 per share. This is an increase from Gerdau’s previous quarterly dividend of $0.00. This represents a $0.21 annualized dividend and a yield of 7.39%. The ex-dividend date of this dividend was Thursday, November 21st. Gerdau’s dividend payout ratio is presently 39.13%.

Institutional Trading of Gerdau

Hedge funds have recently modified their holdings of the stock. FMR LLC increased its holdings in Gerdau by 11.1% during the 3rd quarter. FMR LLC now owns 88,979,025 shares of the basic materials company’s stock worth $311,427,000 after purchasing an additional 8,898,975 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Gerdau during the third quarter worth approximately $29,750,000. Marshall Wace LLP raised 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 acquiring an additional 5,889,913 shares in the last quarter. Two Sigma Advisers LP lifted 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 worth $21,341,000 after acquiring an additional 4,565,900 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in Gerdau by 48.1% during the 2nd quarter. Acadian Asset Management LLC now owns 13,391,548 shares of the basic materials company’s stock worth $44,181,000 after acquiring an additional 4,351,666 shares in the last quarter. 1.49% of the stock is currently owned by institutional investors and hedge funds.

About Gerdau

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.