Gerdau (NYSE:GGB) Sets New 52-Week Low - Time to Sell?

Gerdau S.A. (NYSE:GGB - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $2.61 and last traded at $2.63, with a volume of 948369 shares changing hands. The stock had previously closed at $2.80.

Analysts Set New Price Targets

Several equities analysts have issued reports on GGB shares. UBS Group began coverage on shares of Gerdau in a research report on Wednesday, March 12th. They issued a "neutral" rating for the company. Bank of America reissued a "neutral" rating on shares of Gerdau in a research note on Monday.

Gerdau Stock Performance

The stock has a market capitalization of $5.21 billion, a P/E ratio of 5.80 and a beta of 1.37. The company has a current ratio of 2.98, a quick ratio of 1.53 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average price of $2.89 and a two-hundred day moving average price of $3.10.

Gerdau (NYSE:GGB - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The basic materials company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.06. Gerdau had a return on equity of 7.74% and a net margin of 7.03%. The firm had revenue of $2.88 billion for the quarter, compared to analysts' expectations of $2.66 billion. On average, equities analysts forecast that Gerdau S.A. will post 0.46 earnings per share for the current year.

Gerdau Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were given a $0.0175 dividend. This represents a $0.07 annualized dividend and a yield of 2.80%. The ex-dividend date was Friday, March 7th. Gerdau's payout ratio is currently 13.95%.

Institutional Trading of Gerdau

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Private Advisor Group LLC purchased a new position in shares of Gerdau in the 4th quarter worth approximately $32,000. Wealthfront Advisers LLC purchased a new position in Gerdau during the 4th quarter valued at about $32,000. Zhang Financial LLC purchased a new stake in Gerdau in the 4th quarter worth approximately $34,000. R Squared Ltd bought a new position in Gerdau in the 4th quarter worth about $36,000. Finally, Rehmann Capital Advisory Group purchased a new stake in Gerdau in the third quarter valued at approximately $37,000. 1.49% of the stock is owned by institutional investors.

Gerdau Company Profile

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.