Gerdau SA (ggb) to Issue Dividend of $0.01 on December 8th
Gerdau SA (NYSE:ggb) announced a dividend on Wednesday, November 9th. Stockholders of record on Friday, November 25th will be given a dividend of 0.005 per share on Thursday, December 8th. The ex-dividend date is Tuesday, November 22nd.
Shares of Gerdau SA (NYSE:GGB) opened at 3.70 on Thursday. Gerdau SA has a 12-month low of $0.79 and a 12-month high of $3.95. The firm’s market cap is $6.32 billion. The stock’s 50 day moving average price is $3.19 and its 200-day moving average price is $2.46.
Several equities research analysts have recently commented on the company. Scotiabank downgraded Gerdau SA from a “sector perform” rating to an “underperform” rating in a report on Tuesday, October 25th. JPMorgan Chase & Co. downgraded Gerdau SA from an “overweight” rating to a “neutral” rating in a report on Monday, October 10th. Zacks Investment Research downgraded Gerdau SA from a “buy” rating to a “hold” rating in a report on Friday, September 9th. Morgan Stanley upgraded Gerdau SA from an “equal weight” rating to an “overweight” rating in a report on Thursday, August 18th. Finally, Credit Suisse Group AG upgraded Gerdau SA from a “neutral” rating to an “outperform” rating in a report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $3.00.
A number of large investors have recently made changes to their positions in the company. Profund Advisors LLC bought a new stake in shares of Gerdau SA during the third quarter valued at about $255,000. Northern Trust Corp increased its position in shares of Gerdau SA by 7.3% in the third quarter. Northern Trust Corp now owns 294,656 shares of the company’s stock worth $801,000 after buying an additional 20,153 shares during the period. Barclays PLC increased its position in shares of 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 during the period. Hsbc Holdings PLC increased its position in shares of Gerdau SA by 31.5% in the second quarter. Hsbc Holdings PLC now owns 601,350 shares of the company’s stock worth $1,095,000 after buying an additional 144,175 shares during the period. Finally, Deere & Co. increased its position in shares of Gerdau SA by 1,039.3% in the second quarter. Deere & Co. now owns 808,236 shares of the company’s stock worth $1,471,000 after buying an additional 737,292 shares during the period. Institutional investors and hedge funds own 5.88% of the company’s stock.
About Gerdau SA
Gerdau SA (Gerdau) is a manufacturer of long steel in the North and South America. The Company is engaged in the production and commercialization of steel products in general, through its mills located in Argentina, Brazil, Canada, Chile, Colombia, Spain, the United States, Guatemala, India, Mexico, Peru, the Dominican Republic, Uruguay and Venezuela.
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