Gerdau S.A. Plans Quarterly Dividend of $0.03 (GGB)
Gerdau (NYSE:GGB) announced a quarterly dividend on Tuesday, May 13th, StockRatingsNetwork.com reports. Stockholders of record on Tuesday, May 27th will be paid a dividend of 0.0317 per share on Friday, June 6th. This represents a $0.13 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Thursday, May 22nd.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Gerdau in a research note on Friday, March 28th. They now have a $6.75 price target on the stock. On the ratings front, analysts at JPMorgan Chase & Co. upgraded shares of Gerdau from a “neutral” rating to an “overweight” rating in a research note on Friday, March 14th. Finally, analysts at Bank of America upgraded shares of Gerdau from a “neutral” rating to a “buy” rating in a research note on Monday, February 24th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $6.75.
Shares of Gerdau (NYSE:GGB) traded down 0.91% on Tuesday, hitting $6.53. 3,156,155 shares of the company’s stock traded hands. Gerdau has a 52 week low of $5.27 and a 52 week high of $8.41. The stock’s 50-day moving average is $6. and its 200-day moving average is $6.98. The company has a market cap of $11.131 billion and a price-to-earnings ratio of 13.64.
Gerdau SA (NYSE:GGB) is a producer of long rolled steel.
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