Gerdau (NYSE:GGB) Sets New 52-Week Low - Here's What Happened

Gerdau S.A. (NYSE:GGB - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $2.27 and last traded at $2.51, with a volume of 19033751 shares changing hands. The stock had previously closed at $2.30.

Analyst Upgrades and Downgrades

GGB has been the subject of a number of analyst reports. Bank of America reaffirmed a "neutral" rating on shares of Gerdau in a research report on Monday, April 7th. UBS Group initiated coverage on shares of Gerdau in a report on Wednesday, March 12th. They set a "neutral" rating on the stock.

Gerdau Trading Down 1.4 %

The business has a 50-day simple moving average of $2.85 and a two-hundred day simple moving average of $3.07. 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 has a market cap of $5.23 billion, a price-to-earnings ratio of 5.87 and a beta of 1.37.

Gerdau (NYSE:GGB - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The basic materials company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.66 billion. Gerdau had a net margin of 7.03% and a return on equity of 7.74%. Equities analysts forecast that Gerdau S.A. will post 0.46 EPS for the current fiscal year.

Gerdau Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.0175 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend was Friday, March 7th. Gerdau's dividend payout ratio is 13.95%.

Institutional Investors Weigh In On Gerdau

Institutional investors have recently modified their holdings of the business. Private Advisor Group LLC acquired a new stake in Gerdau during the fourth quarter worth about $32,000. Wealthfront Advisers LLC acquired a new stake in Gerdau in the fourth quarter valued at approximately $32,000. Zhang Financial LLC acquired a new stake in Gerdau in the fourth quarter valued at approximately $34,000. R Squared Ltd acquired a new position in shares of Gerdau during the fourth quarter worth $36,000. Finally, Wolverine Trading LLC bought a new position in Gerdau in the 4th quarter valued at approximately $37,000. Institutional investors own 1.49% of the company's stock.

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.