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

Gerdau S.A. (NYSE:GGB - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $2.75 and last traded at $2.76, with a volume of 1847659 shares changing hands. The stock had previously closed at $2.84.

Gerdau Stock Performance

The company has a market capitalization of $5.68 billion, a PE ratio of 5.96 and a beta of 1.73. The stock's fifty day simple moving average is $3.23 and its 200-day simple moving average is $3.26. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.98.

Gerdau Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 23rd. Shareholders of record on Thursday, November 21st were paid a $0.0528 dividend. This represents a $0.21 dividend on an annualized basis and a yield of 7.74%. This is a positive change from Gerdau's previous quarterly dividend of $0.00. The ex-dividend date of this dividend was Thursday, November 21st. Gerdau's dividend payout ratio (DPR) is presently 39.13%.

Institutional Trading of Gerdau

A number of institutional investors and hedge funds have recently made changes to their positions in GGB. Hsbc Holdings PLC grew its stake in Gerdau by 36.1% during the second quarter. Hsbc Holdings PLC now owns 750,612 shares of the basic materials company's stock worth $2,477,000 after buying an additional 199,033 shares during the period. Marshall Wace LLP boosted its position in Gerdau by 1,988.2% during the 2nd quarter. Marshall Wace LLP now owns 6,186,152 shares of the basic materials company's stock worth $20,414,000 after purchasing an additional 5,889,913 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Gerdau by 307.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,037,480 shares of the basic materials company's stock valued at $3,631,000 after purchasing an additional 782,980 shares in the last quarter. Walleye Capital LLC raised its position in Gerdau by 42.3% in the third quarter. Walleye Capital LLC now owns 1,295,926 shares of the basic materials company's stock valued at $4,536,000 after purchasing an additional 385,535 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in shares of Gerdau by 298.1% during 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 purchasing an additional 4,565,900 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.