Gerdau (NYSE:GGB) Shares Gap Down - Time to Sell?

Gerdau S.A. (NYSE:GGB - Get Free Report)'s stock price gapped down before the market opened on Friday . The stock had previously closed at $3.41, but opened at $3.33. Gerdau shares last traded at $3.36, with a volume of 1,185,116 shares changing hands.

Gerdau Price Performance

The business has a fifty day moving average price of $3.35 and a 200 day moving average price of $3.32. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.98. The company has a market cap of $6.98 billion, a price-to-earnings ratio of 7.32 and a beta of 1.75.

Gerdau Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, November 21st will be issued a $0.0528 dividend. The ex-dividend date is Thursday, November 21st. This represents a $0.21 annualized dividend and a yield of 6.29%. This is a positive change from Gerdau's previous quarterly dividend of $0.00. Gerdau's dividend payout ratio is presently 43.64%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Hsbc Holdings PLC lifted 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 purchasing an additional 199,033 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of 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 acquiring an additional 5,889,913 shares during the period. Oaktree Fund Advisors LLC bought a new stake in shares of Gerdau in the 2nd quarter worth approximately $2,148,000. SPX Gestao de Recursos Ltda lifted its position in Gerdau by 8.3% in the 2nd quarter. SPX Gestao de Recursos Ltda now owns 2,202,470 shares of the basic materials company's stock valued at $7,268,000 after acquiring an additional 169,730 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Gerdau by 27.9% in the 2nd quarter. American Century Companies Inc. now owns 2,752,405 shares of the basic materials company's stock valued at $9,083,000 after acquiring an additional 599,700 shares in the last quarter. Institutional investors own 1.49% of the company's stock.

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.