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

Shares of Gerdau S.A. (NYSE:GGB) are set to split before the market opens on Tuesday, April 30th. The 6-5 split was announced on Tuesday, April 30th. The newly created shares will be issued to shareholders after the market closes on Tuesday, April 30th.

Gerdau Stock Performance

NYSE GGB opened at $4.31 on Thursday. Gerdau has a 1-year low of $4.11 and a 1-year high of $6.16. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.59 and a quick ratio of 1.24. The company has a market cap of $7.56 billion, a PE ratio of 5.13 and a beta of 1.73. The stock’s 50 day simple moving average is $4.33 and its 200-day simple moving average is $4.47.

Gerdau (NYSE:GGB) last posted its quarterly earnings results on Thursday, March 28th. The basic materials company reported $0.07 EPS for the quarter. Gerdau had a return on equity of 15.05% and a net margin of 10.80%. The firm had revenue of $2.97 billion during the quarter. As a group, equities research analysts anticipate that Gerdau will post 0.56 EPS for the current fiscal year.

Gerdau Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were issued a $0.0202 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.08 annualized dividend and a dividend yield of 1.88%. Gerdau’s dividend payout ratio is presently 9.52%.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Gerdau

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GGB. Clear Street Markets LLC acquired a new stake in shares of Gerdau in the fourth quarter valued at $38,000. Atlas Capital Advisors LLC grew its stake in shares of Gerdau by 424.8% in the fourth quarter. Atlas Capital Advisors LLC now owns 7,353 shares of the basic materials company’s stock valued at $41,000 after buying an additional 5,952 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of Gerdau in the first quarter valued at $37,000. Fortis Capital Advisors LLC acquired a new stake in shares of Gerdau in the first quarter valued at $37,000. Finally, Blue Trust Inc. grew its stake in shares of Gerdau by 175.0% in the fourth quarter. Blue Trust Inc. now owns 8,074 shares of the basic materials company’s stock valued at $39,000 after buying an additional 5,138 shares in the last quarter. 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.