Gerdau SA (GGB) Trading 2.9% Higher
Gerdau SA (NYSE:GGB) traded up 2.9% during mid-day trading on Monday . The company traded as high as $2.86 and last traded at $2.85, with a volume of 2,501,922 shares traded. The stock had previously closed at $2.77.
A number of equities research analysts have recently issued reports on the company. Bank of America Corp. restated a “buy” rating on shares of Gerdau SA in a report on Sunday, May 22nd. Zacks Investment Research upgraded Gerdau SA from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research note on Thursday, August 11th. Morgan Stanley upgraded Gerdau SA from an “equal weight” rating to an “overweight” rating in a research note on Thursday, August 18th. Finally, Credit Suisse Group AG upgraded Gerdau SA from a “neutral” rating to an “outperform” rating in a research note on Thursday, August 4th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Gerdau SA presently has a consensus rating of “Buy” and an average target price of $3.00.
The stock’s 50 day moving average is $2.53 and its 200 day moving average is $1.90. The company’s market capitalization is $4.76 billion.
The business also recently disclosed a dividend, which will be paid on Monday, September 12th. Stockholders of record on Thursday, August 25th will be issued a dividend of $0.008 per share. The ex-dividend date is Tuesday, August 23rd.
Gerdau SA (Gerdau) is a producer of long rolled steel. The Company operates in five segments: Brazil (Brazil Business Operation), which includes the steel operations in Brazil (except special steel) and the metallurgical and coking coal operation in Colombia; North America (North America Business Operation), which includes all North American operations, except Mexico and special steel; Latin America (Latin America Business Operation), which includes all Latin American operations, except the operations in Brazil and the metallurgical and coking coal operations in Colombia; Special Steel (Special Steel Business Operation), which includes the special steel operations in Brazil, Spain, the United States and India, and Iron Ore (Iron Ore Business Operation), which includes the iron ore operations in Brazil.
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