Gerdau (NYSE:GGB) Shares Set to Split on Tuesday, April 30th

Gerdau S.A. (NYSE:GGB)’s stock is going to split on the morning of Tuesday, April 30th. The 6-5 split was announced on Tuesday, April 30th. The newly issued shares will be distributed to shareholders after the market closes on Tuesday, April 30th.

Gerdau Price Performance

NYSE GGB opened at $3.61 on Friday. The company has a market cap of $7.61 billion, a PE ratio of 5.16 and a beta of 1.73. Gerdau has a 52 week low of $3.42 and a 52 week high of $5.13. The company has a quick ratio of 1.24, a current ratio of 2.59 and a debt-to-equity ratio of 0.20. The firm’s 50-day simple moving average is $4.25 and its two-hundred day simple moving average is $4.43.

Gerdau (NYSE:GGB) last released its quarterly earnings data on Thursday, March 28th. The basic materials company reported $0.07 EPS for the quarter. The business had revenue of $2.97 billion for the quarter. Gerdau had a net margin of 10.80% and a return on equity of 15.05%. Research analysts predict that Gerdau will post 0.43 earnings per share for the current year.

Gerdau Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Stockholders of record on Tuesday, March 5th were issued a $0.0202 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date was Monday, March 4th. Gerdau’s payout ratio is 8.57%.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. raised shares of Gerdau from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $5.00 to $6.00 in a report on Monday, April 15th.

Institutional Investors Weigh In On Gerdau

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BSW Wealth Partners purchased a new stake in Gerdau in the first quarter valued at approximately $144,000. Ballentine Partners LLC purchased a new stake in Gerdau in the first quarter valued at approximately $44,000. Abacus Wealth Partners LLC purchased a new stake in Gerdau in the first quarter valued at approximately $59,000. Quadrature Capital Ltd grew its position in Gerdau by 91.0% during the fourth quarter. Quadrature Capital Ltd now owns 119,920 shares of the basic materials company’s stock valued at $581,000 after acquiring an additional 57,122 shares during the last quarter. Finally, CoreCommodity Management LLC bought a new position in Gerdau during the fourth quarter valued at approximately $109,000. 1.49% of the stock is owned by hedge funds and other institutional investors.

Gerdau Company Profile

Gerdau SA, together with its subsidiaries, operates as a steel producer company. It operates through Brazil Business, North America Business, South America Business, and Special Steel Business divisions. The company 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.