Gerdau (NYSE:GGB) Shares Gap Up – Should You Buy?

Gerdau S.A. (NYSE:GGB)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $2.85, but opened at $2.99. Gerdau shares last traded at $2.99, with a volume of 870,628 shares.

Gerdau Stock Up 1.8 %

The stock has a 50-day moving average of $3.02 and a 200-day moving average of $3.20. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 6.71 and a beta of 1.73. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.98 and a quick ratio of 1.53.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its position in Gerdau by 132.8% during the 3rd quarter. Blue Trust Inc. now owns 8,681 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 4,952 shares during the last quarter. Rehmann Capital Advisory Group bought a new position in Gerdau during the 3rd quarter worth $37,000. Private Advisor Group LLC bought a new position in shares of Gerdau in the 4th quarter worth about $32,000. Wealthfront Advisers LLC bought a new position in shares of Gerdau in the 4th quarter worth about $32,000. Finally, HighTower Advisors LLC bought a new position in shares of Gerdau in the 3rd quarter worth about $38,000. 1.49% of the stock is owned by institutional investors.

Gerdau Company Profile

Gerdau SA, together with its subsidiaries, operates as a steel producer company. The company operates through Brazil Business, North America Business, South America Business, and Special Steel Business segments. It also provides semi-finished products, including billets, blooms, and slabs; common long rolled products, such as rebars, wire rods, merchant bars, light shapes, and profiles to the construction and manufacturing industries; drawn products comprising barbed and barbless fence wires, galvanized wires, fences, concrete reinforcing wire mesh, nails, and clamps for manufacturing, construction, and agricultural industries; and special steel products used in auto parts, light and heavy vehicles, and agricultural machinery, as well as in the oil and gas, wind energy, machinery and equipment, mining and rail, and other markets.