Gerdau (NYSE:GGB) Shares Gap Up to $4.27

Gerdau S.A. (NYSE:GGB - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $4.27, but opened at $4.40. Gerdau shares last traded at $4.31, with a volume of 5,815,323 shares changing hands.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. raised shares of Gerdau from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $5.00 to $6.00 in a research note on Monday.

Gerdau Stock Up 0.8 %

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 has a market capitalization of $7.56 billion, a PE ratio of 5.13 and a beta of 1.73. The firm has a 50-day moving average of $4.34 and a two-hundred day moving average of $4.47.

Gerdau shares are going to split on Tuesday, April 30th. The 6-5 split was announced on Tuesday, April 30th. The newly created shares will be distributed to shareholders after the closing bell on Tuesday, April 30th.

Gerdau (NYSE:GGB - Get Free Report) last issued its quarterly earnings data on Thursday, March 28th. The basic materials company reported $0.07 earnings per share (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%. Equities research analysts predict that Gerdau S.A. will post 0.56 earnings per share for the current fiscal year.

Gerdau Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 19th. Investors of record on Tuesday, March 5th were given 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 dividend yield of 1.88%. Gerdau's payout ratio is currently 9.52%.

Institutional Trading of Gerdau

Several institutional investors have recently added to or reduced their stakes in the stock. Clear Street Markets LLC purchased a new position in shares of Gerdau during the fourth quarter worth $38,000. Atlas Capital Advisors LLC increased its stake in Gerdau by 424.8% during the 4th quarter. Atlas Capital Advisors LLC now owns 7,353 shares of the basic materials company's stock worth $41,000 after buying an additional 5,952 shares during the period. Belpointe Asset Management LLC acquired a new stake in Gerdau during the 1st quarter worth approximately $37,000. Fortis Capital Advisors LLC purchased a new position in Gerdau in the 1st quarter valued at approximately $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 worth $39,000 after acquiring an additional 5,138 shares in the last quarter. Institutional investors and hedge funds 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.