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

Gerdau S.A. (NYSE:GGB) shares are set 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 issued to shareholders after the market closes on Tuesday, April 30th.

Gerdau Price Performance

NYSE:GGB opened at $3.50 on Friday. The firm has a market cap of $7.37 billion, a PE ratio of 4.99 and a beta of 1.73. Gerdau has a 12 month low of $3.42 and a 12 month 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 company’s 50-day moving average price is $4.27 and its two-hundred day moving average price is $4.44.

Gerdau (NYSE:GGB) last released its quarterly earnings results on Thursday, March 28th. The basic materials company reported $0.07 EPS for the quarter. The firm 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%. On average, equities analysts anticipate that Gerdau will post 0.43 EPS for the current fiscal year.

Gerdau Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 19th. Shareholders of record on Tuesday, March 5th were given a $0.0202 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $0.08 dividend on an annualized basis and a yield of 2.31%. Gerdau’s dividend payout ratio (DPR) is presently 10.00%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Gerdau

Several large investors have recently bought and sold shares of the business. Blue Trust Inc. increased its stake in 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 purchasing an additional 5,138 shares in the last quarter. Ballentine Partners LLC bought a new stake in Gerdau in the first quarter valued at approximately $44,000. Systematic Alpha Investments LLC bought a new stake in Gerdau in the third quarter valued at approximately $46,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Gerdau in the third quarter valued at approximately $55,000. Finally, IPG Investment Advisors LLC bought a new stake in Gerdau in the fourth quarter valued at approximately $55,000. 1.49% of the stock is currently owned by institutional investors and hedge funds.

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.