Gerdau SA (GGB) Trading 2.9% Higher
Gerdau SA (NYSE:GGB)’s share price rose 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. The stock had previously closed at $2.77.
Several research firms have recently commented on GGB. Morgan Stanley raised Gerdau SA from an “equal weight” rating to an “overweight” rating in a research report on Thursday, August 18th. Zacks Investment Research raised Gerdau SA from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research report on Thursday, August 11th. Credit Suisse Group AG raised Gerdau SA from a “neutral” rating to an “outperform” rating in a research report on Thursday, August 4th. Finally, Bank of America Corp. reissued a “buy” rating on shares of Gerdau SA in a research report on Sunday, May 22nd. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $3.00.
The stock’s market capitalization is $4.88 billion. The stock has a 50-day moving average price of $2.47 and a 200-day moving average price of $1.86.
The firm also recently declared a dividend, which will be paid on Monday, September 12th. Shareholders of record on Thursday, August 25th will be issued a dividend of $0.008 per share. The ex-dividend date of this dividend 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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