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

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

Gerdau Price Performance

Shares of GGB opened at $3.66 on Monday. The firm has a market capitalization of $7.72 billion, a PE ratio of 5.23 and a beta of 1.73. The company’s 50-day moving average is $4.31 and its 200-day moving average is $4.46. Gerdau has a fifty-two week low of $3.42 and a fifty-two week high of $5.13. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.59 and a quick ratio of 1.24.

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

Gerdau Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were paid a dividend of $0.0202 per share. The ex-dividend date was Monday, March 4th. This represents a $0.08 dividend on an annualized basis and a yield of 2.21%. Gerdau’s payout ratio is 10.00%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC bought a new position in Gerdau during the 1st quarter worth approximately $37,000. Fortis Capital Advisors LLC bought a new position in Gerdau during the 1st quarter worth approximately $37,000. Clear Street Markets LLC bought a new position in Gerdau during the 4th quarter worth approximately $38,000. Blue Trust Inc. raised its holdings in Gerdau by 175.0% during the 4th quarter. Blue Trust Inc. now owns 8,074 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 5,138 shares during the last quarter. Finally, Atlas Capital Advisors LLC increased its stake in shares of Gerdau by 424.8% in the 4th quarter. Atlas Capital Advisors LLC now owns 7,353 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 5,952 shares in the last quarter. Institutional investors own 1.49% of the company’s stock.

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.