Gerdau SA (NYSE:GGB)’s stock price hit a new 52-week high during trading on Tuesday . The stock traded as high as $5.30 and last traded at $5.19, with a volume of 103548 shares. The stock had previously closed at $5.24.
GGB has been the topic of several analyst reports. Zacks Investment Research raised shares of Gerdau from a “hold” rating to a “buy” rating and set a $5.75 price target on the stock in a research report on Saturday, January 4th. ValuEngine cut shares of Gerdau from a “hold” rating to a “sell” rating in a research report on Monday, December 30th. Finally, TheStreet raised shares of Gerdau from a “c+” rating to a “b-” rating in a research report on Thursday, December 12th.
The firm’s 50-day simple moving average is $4.54 and its 200 day simple moving average is $3.67. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.03 and a current ratio of 2.13. The stock has a market capitalization of $8.95 billion, a P/E ratio of 12.86, a PEG ratio of 4.11 and a beta of 1.99.
Hedge funds have recently modified their holdings of the company. US Bancorp DE raised its holdings in shares of Gerdau by 1,100.6% in the 2nd quarter. US Bancorp DE now owns 11,298 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 10,357 shares during the period. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of Gerdau in the 3rd quarter valued at about $37,000. Corient Capital Partners LLC bought a new stake in shares of Gerdau in the 3rd quarter valued at about $41,000. Wells Fargo & Company MN raised its holdings in shares of Gerdau by 2,993.8% in the 2nd quarter. Wells Fargo & Company MN now owns 15,500 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 14,999 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Gerdau by 16.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 23,260 shares of the basic materials company’s stock valued at $73,000 after purchasing an additional 3,202 shares during the period. 9.49% of the stock is currently owned by institutional investors.
Gerdau Company Profile (NYSE:GGB)
Gerdau SA provides steel-related products and services worldwide. It operates through four segments: Brazil Operations, North America Operations, South America Operations, and Special Steel Operations. The company offers semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles, which are used primarily in the construction and manufacturing industries; and drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire meshes, nails, and clamps, as well as mines and produces iron ore.
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