Posted by admin on May 21st, 2022
Gerdau (NYSE:GGB – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.
According to Zacks, “GERDAU S.A. throughout its 101 years of activities, they are largest long steel producer in Latin America, and have made an important contribution in building the history of the Brazilian industry. Gerdau Group dedicates itself to meeting the growing demands of several dynamic industries involved in the production of goods and in the development of the economy. Gerdau steel is used in construction and industry as well as in the automotive and agricultural sectors. “
NYSE:GGB traded up $0.28 during trading hours on Friday, reaching $5.74. 17,285,212 shares of the company’s stock were exchanged, compared to its average volume of 12,671,628. The company has a market capitalization of $9.87 billion, a P/E ratio of 3.42, a price-to-earnings-growth ratio of 0.16 and a beta of 1.53. Gerdau has a 12 month low of $4.19 and a 12 month high of $6.69. The company has a quick ratio of 1.26, a current ratio of 2.43 and a debt-to-equity ratio of 0.27. The business’s 50-day simple moving average is $5.90 and its two-hundred day simple moving average is $5.30.
Institutional investors have recently bought and sold shares of the stock. Thomas White International Ltd. boosted its stake in Gerdau by 51.7% in the 4th quarter. Thomas White International Ltd. now owns 6,357 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 2,166 shares during the period. Cutler Group LP boosted its stake in Gerdau by 43.9% in the 1st quarter. Cutler Group LP now owns 6,796 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 2,074 shares during the period. Keybank National Association OH acquired a new position in Gerdau in the 1st quarter worth approximately $65,000. Sequoia Financial Advisors LLC acquired a new position in Gerdau in the 1st quarter worth approximately $67,000. Finally, Wedbush Securities Inc. acquired a new position in Gerdau in the 4th quarter worth approximately $52,000.
Gerdau SA provides steel products and services. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It offers 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; finished industrial products, including commercial rolled-steel bars, and light profiles and wires; agricultural products that include stakes and smooth wire products; and drawn products comprises barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire meshes, nails, and clamps.
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