Gerdau (NYSE:GGB) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

Gerdau S.A. (NYSE:GGBGet Free Report)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.88 and traded as high as $3.02. Gerdau shares last traded at $2.96, with a volume of 13,174,794 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on GGB. UBS Group raised shares of Gerdau from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $2.90 to $3.80 in a research report on Monday, June 9th. Bank of America reiterated a “neutral” rating on shares of Gerdau in a research report on Monday, April 7th.

Get Our Latest Stock Report on GGB

Gerdau Price Performance

The stock has a market cap of $6.14 billion, a P/E ratio of 10.19, a price-to-earnings-growth ratio of 2.98 and a beta of 1.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.28 and a current ratio of 2.64. The firm has a 50-day moving average price of $2.72 and a 200-day moving average price of $2.88.

Gerdau Increases Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, May 27th. Shareholders of record on Tuesday, May 13th were issued a $0.0188 dividend. This is an increase from Gerdau’s previous dividend of $0.00. The ex-dividend date was Monday, May 12th. This represents a yield of 2.95%. Gerdau’s dividend payout ratio is 27.59%.

Institutional Trading of Gerdau

Hedge funds have recently modified their holdings of the business. FMR LLC grew its stake in shares of Gerdau by 10.4% in the 4th quarter. FMR LLC now owns 98,194,996 shares of the basic materials company’s stock worth $282,802,000 after buying an additional 9,215,971 shares during the last quarter. Two Sigma Investments LP boosted its holdings in Gerdau by 49.9% in the fourth quarter. Two Sigma Investments LP now owns 14,804,499 shares of the basic materials company’s stock worth $42,637,000 after acquiring an additional 4,928,378 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in Gerdau by 107.4% in the fourth quarter. Two Sigma Advisers LP now owns 12,645,660 shares of the basic materials company’s stock worth $36,420,000 after acquiring an additional 6,548,200 shares in the last quarter. Encompass Capital Advisors LLC purchased a new stake in shares of Gerdau in the first quarter worth $30,134,000. Finally, Bank of America Corp DE increased its holdings in shares of Gerdau by 130.6% during the fourth quarter. Bank of America Corp DE now owns 10,095,722 shares of the basic materials company’s stock valued at $29,076,000 after acquiring an additional 5,718,323 shares in the last quarter. Institutional investors own 1.49% of the company’s stock.

About Gerdau

(Get Free Report)

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.

Featured Stories

Receive News & Ratings for Gerdau Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gerdau and related companies with MarketBeat.com's FREE daily email newsletter.