Gerdau (NYSE:GGB) Shares Gap Down – What’s Next?

Gerdau S.A. (NYSE:GGB) gapped down prior to trading 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 trading hands.

Gerdau Stock Performance

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 has a 50-day moving average of $3.34 and a 200 day moving average of $3.33. The stock has a market capitalization of $7.01 billion, a P/E ratio of 7.44 and a beta of 1.75.

Gerdau Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.0528 per share. This represents a $0.21 dividend on an annualized basis and a dividend yield of 6.27%. This is an increase from Gerdau’s previous quarterly dividend of $0.00. The ex-dividend date of this dividend is Thursday, November 21st. Gerdau’s dividend payout ratio (DPR) is presently 43.64%.

Institutional Trading of Gerdau

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in Gerdau by 132.8% during the third quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 4,952 shares during the period. Insight 2811 Inc. acquired a new position in shares of Gerdau in the 2nd quarter worth approximately $36,000. Rehmann Capital Advisory Group acquired a new stake in Gerdau in the 3rd quarter valued at $37,000. Wedbush Securities Inc. acquired a new stake in Gerdau in the 2nd quarter valued at $38,000. Finally, HighTower Advisors LLC bought a new stake in Gerdau in the third quarter valued at $38,000. 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.