Gerdau SA (GGB) Plans $0.03 Special Dividend

Gerdau SA (NYSE:GGB) declared a special dividend on Thursday, November 8th, Wall Street Journal reports. Investors of record on Monday, November 26th will be paid a dividend of 0.0345 per share by the basic materials company on Monday, December 10th. The ex-dividend date of this dividend is Friday, November 23rd.

Gerdau has decreased its dividend by an average of 37.9% annually over the last three years.

Shares of GGB stock opened at $4.31 on Friday. The company has a market cap of $7.76 billion, a P/E ratio of 47.89, a price-to-earnings-growth ratio of 0.39 and a beta of 2.19. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.39 and a current ratio of 2.36. Gerdau has a 52-week low of $2.89 and a 52-week high of $5.32.

Gerdau (NYSE:GGB) last issued its quarterly earnings data on Wednesday, August 8th. The basic materials company reported $0.12 earnings per share (EPS) for the quarter. The company had revenue of $3.35 billion for the quarter. Gerdau had a negative net margin of 0.43% and a positive return on equity of 6.25%. Sell-side analysts anticipate that Gerdau will post 0.44 earnings per share for the current fiscal year.

Several brokerages recently issued reports on GGB. HSBC raised shares of Gerdau from a “hold” rating to a “buy” rating in a report on Monday, September 17th. Zacks Investment Research raised shares of Gerdau from a “hold” rating to a “buy” rating and set a $4.75 price objective on the stock in a report on Tuesday, October 16th. Finally, Bank of America reissued a “buy” rating on shares of Gerdau in a report on Thursday, August 16th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Gerdau currently has a consensus rating of “Buy” and an average price target of $4.38.

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Gerdau Company Profile

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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Dividend History for Gerdau (NYSE:GGB)

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