Gerdau S.A. (NYSE:GGB - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $2.85 and last traded at $2.86, with a volume of 111667 shares trading hands. The stock had previously closed at $2.88.
Gerdau Price Performance
The stock has a market capitalization of $5.99 billion, a P/E ratio of 6.28 and a beta of 1.73. The stock has a 50 day moving average price of $3.27 and a 200-day moving average price of $3.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53.
Gerdau Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, November 21st were given a $0.0528 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.21 annualized dividend and a yield of 7.33%. This is an increase from Gerdau's previous quarterly dividend of $0.00. Gerdau's payout ratio is presently 39.13%.
Institutional Investors Weigh In On Gerdau
A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of Gerdau by 28.7% during the third quarter. JPMorgan Chase & Co. now owns 152,685 shares of the basic materials company's stock worth $534,000 after purchasing an additional 34,069 shares during the period. Tidal Investments LLC purchased a new position in shares of Gerdau during the third quarter valued at approximately $525,000. Virtu Financial LLC purchased a new position in shares of Gerdau during the third quarter valued at approximately $189,000. Rehmann Capital Advisory Group purchased a new stake in Gerdau in the third quarter worth $37,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Gerdau in the third quarter valued at $1,741,000. Institutional investors 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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