Gerdau (NYSE:GGB) Hits New 52-Week Low – Should You Sell?

Gerdau S.A. (NYSE:GGB)’s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $2.92 and last traded at $2.92, with a volume of 46693 shares. The stock had previously closed at $2.98.

Gerdau Stock Down 2.3 %

The firm’s fifty day simple moving average is $3.29 and its 200 day simple moving average is $3.28. 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 market cap of $6.05 billion, a price-to-earnings ratio of 6.35 and a beta of 1.73.

Gerdau Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 23rd. Stockholders of record on Thursday, November 21st were given a dividend of $0.0528 per share. This is a boost from Gerdau’s previous quarterly dividend of $0.00. This represents a $0.21 annualized dividend and a dividend yield of 7.26%. The ex-dividend date was Thursday, November 21st. Gerdau’s dividend payout ratio is currently 39.13%.

Institutional Investors Weigh In On Gerdau

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in Gerdau by 52.7% in the second quarter. Bank of New York Mellon Corp now owns 284,272 shares of the basic materials company’s stock valued at $938,000 after purchasing an additional 98,126 shares during the last quarter. Crossmark Global Holdings Inc. boosted its holdings in shares of Gerdau by 9.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 124,888 shares of the basic materials company’s stock valued at $412,000 after buying an additional 10,888 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Gerdau by 1,706.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 288,519 shares of the basic materials company’s stock valued at $952,000 after buying an additional 272,549 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in Gerdau by 20.0% during the 2nd quarter. Banque Cantonale Vaudoise now owns 258,000 shares of the basic materials company’s stock worth $851,000 after acquiring an additional 43,000 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in Gerdau by 15.7% in the second quarter. Van ECK Associates Corp now owns 1,324,081 shares of the basic materials company’s stock valued at $4,369,000 after acquiring an additional 179,988 shares during the last quarter. Institutional investors and hedge funds 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.