Shares of Gerdau SA (NYSE:GGB) reached a new 52-week low during trading on Wednesday . The stock traded as low as $3.11 and last traded at $3.12, with a volume of 344389 shares changing hands. The stock had previously closed at $3.30.

Several equities analysts have commented on GGB shares. ValuEngine raised shares of Gerdau from a “sell” rating to a “hold” rating in a report on Thursday, June 27th. Zacks Investment Research upgraded shares of Gerdau from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Finally, TheStreet upgraded shares of Gerdau from a “c” rating to a “b-” rating in a research note on Tuesday, June 4th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $4.50.

The company’s 50 day moving average is $3.67. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.19 and a quick ratio of 0.95. The company has a market cap of $5.73 billion, a P/E ratio of 7.78 and a beta of 1.83.

A number of large investors have recently bought and sold shares of the stock. NEXT Financial Group Inc boosted its position in Gerdau by 9.5% during the 2nd quarter. NEXT Financial Group Inc now owns 34,500 shares of the basic materials company’s stock worth $134,000 after buying an additional 3,000 shares during the period. Crossmark Global Holdings Inc. boosted its position in Gerdau by 10.0% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 102,065 shares of the basic materials company’s stock worth $397,000 after buying an additional 9,242 shares during the period. US Bancorp DE boosted 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 buying an additional 10,357 shares during the period. Eqis Capital Management Inc. acquired a new stake in Gerdau during the 1st quarter worth approximately $45,000. Finally, Cadence Capital Management LLC acquired a new stake in Gerdau during the 2nd quarter worth approximately $49,000. Institutional investors and hedge funds own 7.15% of the company’s stock.

About Gerdau (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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