Companhia Siderúrgica Nacional (NYSE:SID) Shares Down 4.9% – Here’s Why

Companhia Siderúrgica Nacional (NYSE:SID) shares fell 4.9% on Monday . The stock traded as low as $1.46 and last traded at $1.47. 2,119,525 shares changed hands during trading, a decline of 7% from the average session volume of 2,274,447 shares. The stock had previously closed at $1.54.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Companhia Siderúrgica Nacional from a “buy” rating to a “hold” rating in a research report on Tuesday, December 10th.

Companhia Siderúrgica Nacional Price Performance

The company has a market cap of $2.08 billion, a price-to-earnings ratio of -49.98 and a beta of 2.12. The company has a fifty day simple moving average of $1.93 and a two-hundred day simple moving average of $2.12. The company has a quick ratio of 0.93, a current ratio of 1.34 and a debt-to-equity ratio of 2.77.

Companhia Siderúrgica Nacional Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 29th were paid a $0.0952 dividend. The ex-dividend date of this dividend was Friday, November 29th. Companhia Siderúrgica Nacional’s payout ratio is -146.67%.

Hedge Funds Weigh In On Companhia Siderúrgica Nacional

Hedge funds have recently added to or reduced their stakes in the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Companhia Siderúrgica Nacional in the third quarter valued at about $3,824,000. The Manufacturers Life Insurance Company purchased a new stake in Companhia Siderúrgica Nacional in the 3rd quarter valued at approximately $3,585,000. Renaissance Technologies LLC grew its holdings in Companhia Siderúrgica Nacional by 51.7% during the 2nd quarter. Renaissance Technologies LLC now owns 1,928,396 shares of the basic materials company’s stock valued at $4,435,000 after buying an additional 656,983 shares during the last quarter. Van ECK Associates Corp increased its position in Companhia Siderúrgica Nacional by 17.3% during the second quarter. Van ECK Associates Corp now owns 1,841,944 shares of the basic materials company’s stock worth $4,236,000 after buying an additional 271,176 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Companhia Siderúrgica Nacional by 14.7% in the second quarter. American Century Companies Inc. now owns 1,846,867 shares of the basic materials company’s stock worth $4,248,000 after acquiring an additional 236,340 shares during the last quarter.

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 Industry, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as hot and cold rolled, galvanized, galvalume, pre-painted, and metal sheets products; coil, sheets, and derivatives; tiles and derivatives, pipes, and profiles; long steel products; steel packaging solutions for the food industry; chemical packaging solution; and carbochemical products.