Shares of Gerdau SA (NYSE:GGB) gapped up before the market opened on Friday . The stock had previously closed at $3.39, but opened at $3.48. Gerdau shares last traded at $3.55, with a volume of 6196806 shares traded.

Several brokerages have weighed in on GGB. Credit Suisse Group cut Gerdau from an “outperform” rating to a “neutral” rating in a report on Thursday, September 7th. Zacks Investment Research cut Gerdau from a “buy” rating to a “hold” rating in a report on Tuesday, September 5th. Santander raised Gerdau from a “hold” rating to a “buy” rating in a report on Tuesday, September 12th. Sandler O’Neill raised Gerdau from a “hold” rating to a “buy” rating in a report on Wednesday, September 13th. Finally, J P Morgan Chase & Co raised Gerdau from a “neutral” rating to an “overweight” rating in a report on Friday, September 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. Gerdau currently has a consensus rating of “Hold” and a consensus target price of $4.13.

The company has a current ratio of 1.89, a quick ratio of 1.16 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $6,036.00, a P/E ratio of 20.65 and a beta of 2.27.

The firm also recently disclosed a None dividend, which was paid on Friday, December 8th. Investors of record on Friday, November 24th were given a $0.007 dividend. The ex-dividend date of this dividend was Wednesday, November 22nd. This is a positive change from Gerdau’s previous None dividend of $0.01. This represents a dividend yield of 0.8%. Gerdau’s payout ratio is currently -3.33%.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Global X Management Co. LLC boosted its position in Gerdau by 6.2% during the 2nd quarter. Global X Management Co. LLC now owns 34,134 shares of the basic materials company’s stock worth $104,000 after acquiring an additional 1,997 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Gerdau by 22.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 106,823 shares of the basic materials company’s stock valued at $366,000 after buying an additional 19,259 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Gerdau by 108.5% in the 2nd quarter. Lazard Asset Management LLC now owns 41,700 shares of the basic materials company’s stock valued at $127,000 after buying an additional 21,700 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Gerdau by 2.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 1,157,330 shares of the basic materials company’s stock valued at $3,970,000 after buying an additional 30,560 shares during the last quarter. Finally, Aperio Group LLC boosted its holdings in shares of Gerdau by 38.4% in the 2nd quarter. Aperio Group LLC now owns 116,078 shares of the basic materials company’s stock valued at $354,000 after buying an additional 32,213 shares during the last quarter. Institutional investors and hedge funds own 4.89% of the company’s stock.

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Gerdau Company Profile

Gerdau SA (Gerdau) is a manufacturer of long steel in the North and South America. The Company is engaged in the production and commercialization of steel products in general, through its mills located in Argentina, Brazil, Canada, Chile, Colombia, Spain, the United States, Guatemala, India, Mexico, Peru, the Dominican Republic, Uruguay and Venezuela.

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