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

Shares of Gerdau S.A. (NYSE:GGB) are scheduled to split on the morning of Tuesday, April 30th. The 6-5 split was announced on Tuesday, April 30th. The newly minted shares will be payable to shareholders after the closing bell on Tuesday, April 30th.

Gerdau Stock Performance

NYSE GGB opened at $3.61 on Friday. The firm has a 50-day moving average of $4.25 and a 200-day moving average of $4.43. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.24 and a current ratio of 2.59. The stock 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.

Gerdau (NYSE:GGB) last posted its earnings results on Thursday, March 28th. The basic materials company reported $0.07 earnings per share (EPS) for the quarter. The company had revenue of $2.97 billion during the quarter. Gerdau had a net margin of 10.80% and a return on equity of 15.05%. On average, sell-side analysts anticipate that Gerdau will post 0.43 EPS for the current year.

Gerdau Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were paid a $0.0202 dividend. This represents a $0.08 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend was Monday, March 4th. Gerdau’s dividend payout ratio (DPR) is 8.57%.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upgraded shares of Gerdau from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $5.00 to $6.00 in a research note on Monday, April 15th.

Institutional Trading of Gerdau

Hedge funds and other institutional investors have recently bought and sold shares of the business. BSW Wealth Partners bought a new position in Gerdau in the 1st quarter valued at about $144,000. Ballentine Partners LLC bought a new position in Gerdau in the 1st quarter valued at about $44,000. Abacus Wealth Partners LLC bought a new position in Gerdau in the 1st quarter valued at about $59,000. Quadrature Capital Ltd increased its holdings in Gerdau by 91.0% in the 4th quarter. Quadrature Capital Ltd now owns 119,920 shares of the basic materials company’s stock valued at $581,000 after buying an additional 57,122 shares during the period. Finally, CoreCommodity Management LLC bought a new position in Gerdau in the 4th quarter valued at about $109,000. Institutional investors and hedge funds own 1.49% of the company’s stock.

About Gerdau

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.