Investors Purchase Large Volume of Put Options on Companhia Siderúrgica Nacional (NYSE:SID)

Companhia Siderúrgica Nacional (NYSE:SID) was the target of unusually large options trading activity on Tuesday. Traders bought 4,972 put options on the company. This is an increase of 883% compared to the typical daily volume of 506 put options.

Companhia Siderúrgica Nacional Stock Performance

Companhia Siderúrgica Nacional stock traded up $0.22 during mid-day trading on Tuesday, hitting $2.43. The company’s stock had a trading volume of 2,708,084 shares, compared to its average volume of 2,576,773. Companhia Siderúrgica Nacional has a 52-week low of $2.11 and a 52-week high of $4.03. The company has a quick ratio of 0.91, a current ratio of 1.29 and a debt-to-equity ratio of 1.89. The firm’s 50 day moving average is $2.64 and its 200 day moving average is $3.18.

Companhia Siderúrgica Nacional (NYSE:SID) last released its quarterly earnings results on Thursday, May 9th. The basic materials company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.19). The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.10 billion. Companhia Siderúrgica Nacional had a return on equity of 3.17% and a net margin of 1.45%. Analysts anticipate that Companhia Siderúrgica Nacional will post 0.18 EPS for the current year.

Companhia Siderúrgica Nacional Cuts Dividend

The business also recently declared a — dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Friday, January 1st were issued a $0.1395 dividend. This represents a yield of 16.6%. The ex-dividend date of this dividend was Wednesday, May 22nd. Companhia Siderúrgica Nacional’s dividend payout ratio (DPR) is presently 300.03%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SID shares. Itau BBA Securities reissued an “underperform” rating and set a $3.00 price target on shares of Companhia Siderúrgica Nacional in a research report on Thursday, April 4th. StockNews.com lowered shares of Companhia Siderúrgica Nacional from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Bank of America lowered shares of Companhia Siderúrgica Nacional from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $3.90 to $2.90 in a research note on Tuesday, April 9th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SID. Virtu Financial LLC acquired a new position in Companhia Siderúrgica Nacional during the 1st quarter valued at about $108,000. Advisors Asset Management Inc. acquired a new position in Companhia Siderúrgica Nacional during the first quarter valued at approximately $311,000. BNP Paribas Financial Markets increased its stake in Companhia Siderúrgica Nacional by 880.8% in the first quarter. BNP Paribas Financial Markets now owns 69,051 shares of the basic materials company’s stock valued at $216,000 after purchasing an additional 62,011 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Companhia Siderúrgica Nacional in the fourth quarter worth $114,000. Finally, Barometer Capital Management Inc. acquired a new position in shares of Companhia Siderúrgica Nacional in the 4th quarter valued at $121,000.

Companhia Siderúrgica Nacional Company Profile

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates through five segments: Steel, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as high, medium, low carbon, micro-alloyed, ultra-low-carbon, and interstitial free slabs; hot-rolled products, including heavy and light-gauge hot-rolled coils and sheets; cold-rolled products comprising cold-rolled coils and sheets; galvanized products; tin mill products consisting of flat-rolled low-carbon steel coils or sheets; and profiles, channels, UPE sections, and steel sleepers for the distribution, packaging, automotive, home appliance, and construction industries.