Gerdau SA (NYSE:GGB) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.71 and traded as high as $5.24. Gerdau shares last traded at $5.16, with a volume of 14,988,200 shares trading hands.

GGB has been the subject of several analyst reports. ValuEngine cut Gerdau from a “hold” rating to a “sell” rating in a research note on Monday, December 30th. Zacks Investment Research raised Gerdau from a “hold” rating to a “buy” rating and set a $5.75 target price for the company in a report on Saturday, January 4th. Finally, TheStreet raised Gerdau from a “c+” rating to a “b-” rating in a research note on Thursday, December 12th.

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 company has a 50-day simple moving average of $4.72 and a 200-day simple moving average of $3.72. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 4.16 and a beta of 1.99.

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

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN grew its position in Gerdau by 2,993.8% during the 2nd quarter. Wells Fargo & Company MN now owns 15,500 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 14,999 shares in the last quarter. Northern Trust Corp grew its position in Gerdau by 15.3% during the 2nd quarter. Northern Trust Corp now owns 625,793 shares of the basic materials company’s stock worth $2,434,000 after purchasing an additional 83,006 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in Gerdau by 3.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,281,232 shares of the basic materials company’s stock worth $4,984,000 after purchasing an additional 44,978 shares in the last quarter. US Bancorp DE grew its position in Gerdau by 1,100.6% during the 2nd quarter. US Bancorp DE now owns 11,298 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 10,357 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Gerdau by 12.6% during the 2nd quarter. Vanguard Group Inc. now owns 11,170,635 shares of the basic materials company’s stock worth $43,454,000 after purchasing an additional 1,253,168 shares in the last quarter. 9.49% of the stock is currently owned by institutional investors and hedge funds.

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.

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