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

Shares of Gerdau S.A. (NYSE:GGB) reached a new 52-week low during 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 Price Performance

The stock has a market cap of $5.68 billion, a P/E ratio of 5.96 and a beta of 1.73. The company has a quick ratio of 1.53, a current ratio of 2.98 and a debt-to-equity ratio of 0.21. The firm’s fifty day moving average price is $3.23 and its 200-day moving average price is $3.26.

Gerdau Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 23rd. Investors of record on Thursday, November 21st were issued a dividend of $0.0528 per share. This represents a $0.21 dividend on an annualized basis and a dividend yield of 7.74%. The ex-dividend date of this dividend was Thursday, November 21st. This is an increase from Gerdau’s previous quarterly dividend of $0.00. Gerdau’s dividend payout ratio is currently 39.13%.

Hedge Funds Weigh In On Gerdau

Institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC boosted 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 acquiring an additional 199,033 shares in the last quarter. Marshall Wace LLP grew 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 valued at $20,414,000 after purchasing an additional 5,889,913 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Gerdau by 307.7% in the third 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 worth $3,631,000 after buying an additional 782,980 shares during the last quarter. Walleye Capital LLC lifted its position in Gerdau by 42.3% in the 3rd quarter. Walleye Capital LLC now owns 1,295,926 shares of the basic materials company’s stock valued at $4,536,000 after acquiring an additional 385,535 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Gerdau by 298.1% during the 3rd quarter. Two Sigma Advisers LP now owns 6,097,460 shares of the basic materials company’s stock valued at $21,341,000 after purchasing an additional 4,565,900 shares during the last quarter. 1.49% of the stock is owned by institutional investors.

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.