Gerdau (NYSE:GGB) Reaches New 12-Month High at $5.30

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.

Gerdau (NYSE:GGB) last issued its quarterly earnings results on Wednesday, October 30th. The basic materials company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. Gerdau had a net margin of 3.64% and a return on equity of 5.77%. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.49 billion. As a group, research analysts expect that Gerdau SA will post 0.2 earnings per share for the current fiscal year.

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.

Further Reading: What is a capital gain?

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.