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

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 created shares will be issued to shareholders after the market closes on Tuesday, April 30th.

Gerdau Trading Down 3.6 %

Shares of GGB stock opened at $4.32 on Friday. Gerdau has a fifty-two week low of $4.11 and a fifty-two week high of $6.16. 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 stock has a 50-day simple moving average of $4.33 and a 200 day simple moving average of $4.49. The stock has a market capitalization of $7.59 billion, a P/E ratio of 5.14 and a beta of 1.73.

Gerdau Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were issued a dividend of $0.0202 per share. This represents a $0.08 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Monday, March 4th. Gerdau’s payout ratio is 9.52%.

Hedge Funds Weigh In On Gerdau

A number of institutional investors have recently bought and sold shares of GGB. Clear Street Markets LLC purchased a new position in shares of Gerdau in the fourth quarter worth approximately $38,000. Atlas Capital Advisors LLC increased its stake in 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 buying an additional 5,952 shares during the period. Belpointe Asset Management LLC purchased a new stake in Gerdau in the 1st quarter worth approximately $37,000. Fortis Capital Advisors LLC acquired a new stake in Gerdau during the first quarter valued at $37,000. Finally, Blue Trust Inc. lifted its holdings in shares of Gerdau by 175.0% during the 4th 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 during the last quarter. Hedge funds and other institutional investors 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.