Gerdau SA (NYSE:GGB) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Monday.

Several other equities research analysts have also commented on GGB. Zacks Investment Research lowered shares of Gerdau SA from a “buy” rating to a “hold” rating in a research report on Monday, July 25th. Credit Suisse Group AG upgraded shares of Gerdau SA from a “neutral” rating to an “outperform” rating in a report on Thursday, August 4th. Finally, Morgan Stanley upgraded shares of Gerdau SA from an “equal weight” rating to an “overweight” rating in a report on Thursday, August 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Gerdau SA currently has an average rating of “Hold” and an average target price of $3.00.

Gerdau SA (NYSE:GGB) opened at 2.98 on Monday. The stock has a 50 day moving average of $2.77 and a 200 day moving average of $2.19. Gerdau SA has a 1-year low of $0.79 and a 1-year high of $3.19. The stock’s market cap is $5.12 billion.

The business also recently disclosed a dividend, which was paid on Monday, September 12th. Stockholders of record on Thursday, August 25th were paid a dividend of $0.008 per share. The ex-dividend date of this dividend was Tuesday, August 23rd. Gerdau SA’s dividend payout ratio is currently -2.53%.

Several hedge funds and other institutional investors have recently bought and sold shares of GGB. Itau Unibanco Holding S.A. bought a new position in Gerdau SA during the second quarter worth approximately $1,210,000. Jane Street Group LLC increased its position in Gerdau SA by 11.9% in the second quarter. Jane Street Group LLC now owns 938,789 shares of the company’s stock worth $1,708,000 after buying an additional 99,609 shares in the last quarter. Barclays PLC increased its position in Gerdau SA by 60.6% in the second quarter. Barclays PLC now owns 484,221 shares of the company’s stock worth $881,000 after buying an additional 182,800 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in Gerdau SA by 27.3% in the second quarter. Parametric Portfolio Associates LLC now owns 6,892,034 shares of the company’s stock worth $12,544,000 after buying an additional 1,478,508 shares in the last quarter. Finally, Oaktree Capital Management LP increased its position in Gerdau SA by 8.0% in the second quarter. Oaktree Capital Management LP now owns 9,501,727 shares of the company’s stock worth $16,913,000 after buying an additional 699,822 shares in the last quarter. 6.08% of the stock is owned by institutional investors.

Gerdau SA Company Profile

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.

5 Day Chart for NYSE:GGB

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