Gerdau SA (NYSE:GGB) shares traded up 3.1% during mid-day trading on Wednesday . The company traded as high as $2.64 and last traded at $2.62, with a volume of 3,040,721 shares changing hands. The stock had previously closed at $2.54.

A number of research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Gerdau SA from a “buy” rating to a “hold” rating in a research report on Friday, September 9th. Morgan Stanley raised shares of Gerdau SA from an “equal weight” rating to an “overweight” rating in a research report on Thursday, August 18th. Finally, Credit Suisse Group AG raised shares of Gerdau SA from a “neutral” rating to an “outperform” rating in a research report on Thursday, August 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $3.00.

The firm’s market cap is $4.65 billion. The firm has a 50 day moving average price of $2.78 and a 200-day moving average price of $2.08.

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The firm also recently announced a dividend, which was paid on Monday, September 12th. Investors of record on Thursday, August 25th were issued a $0.008 dividend. The ex-dividend date of this dividend was Tuesday, August 23rd. Gerdau SA’s dividend payout ratio (DPR) is presently -2.53%.

Several hedge funds and other institutional investors have recently bought and sold shares of GGB. Tower Research Capital LLC TRC raised its position in Gerdau SA by 35.3% in the second quarter. Tower Research Capital LLC TRC now owns 56,486 shares of the company’s stock worth $103,000 after buying an additional 14,750 shares during the period. World Asset Management Inc raised its position in Gerdau SA by 7.5% in the second quarter. World Asset Management Inc now owns 71,360 shares of the company’s stock worth $130,000 after buying an additional 4,969 shares during the period. AMP Capital Investors Ltd raised its position in Gerdau SA by 70.1% in the first quarter. AMP Capital Investors Ltd now owns 139,032 shares of the company’s stock worth $253,000 after buying an additional 57,300 shares during the period. Nwam LLC raised its position in Gerdau SA by 7.5% in the second quarter. Nwam LLC now owns 139,170 shares of the company’s stock worth $253,000 after buying an additional 9,725 shares during the period. Finally, Stratos Wealth Partners LTD. raised its position in Gerdau SA by 100.0% in the first quarter. Stratos Wealth Partners LTD. now owns 150,000 shares of the company’s stock worth $267,000 after buying an additional 75,000 shares during the period. 6.08% of the stock is owned by hedge funds and other institutional investors.

Gerdau SA Company Profile

Gerdau SA (Gerdau) is a producer of long rolled steel. The Company operates in five segments: Brazil (Brazil Business Operation), which includes the steel operations in Brazil (except special steel) and the metallurgical and coking coal operation in Colombia; North America (North America Business Operation), which includes all North American operations, except Mexico and special steel; Latin America (Latin America Business Operation), which includes all Latin American operations, except the operations in Brazil and the metallurgical and coking coal operations in Colombia; Special Steel (Special Steel Business Operation), which includes the special steel operations in Brazil, Spain, the United States and India, and Iron Ore (Iron Ore Business Operation), which includes the iron ore operations in Brazil.

5 Day Chart for NYSE:GGB

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