Companhia Siderurgica Nacional (SID) Trading Down 5.8%

Shares of Companhia Siderurgica Nacional (NYSE:SID) dropped 5.8% on Monday . The company traded as low as $3.41 and last traded at $3.41. Approximately 2,193,982 shares were traded during trading, a decline of 50% from the average daily volume of 4,408,755 shares. The stock had previously closed at $3.62.

SID has been the subject of a number of analyst reports. Morgan Stanley upgraded shares of Companhia Siderurgica Nacional from an “equal weight” rating to an “overweight” rating in a report on Tuesday, March 5th. Itau BBA Securities upgraded shares of Companhia Siderurgica Nacional from a “market perform” rating to an “outperform” rating in a report on Thursday, February 21st. BTIG Research upgraded shares of Companhia Siderurgica Nacional from a “hold” rating to a “buy” rating in a report on Wednesday, January 23rd. HSBC upgraded shares of Companhia Siderurgica Nacional from a “hold” rating to a “buy” rating in a report on Friday, February 22nd. Finally, Zacks Investment Research lowered shares of Companhia Siderurgica Nacional from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $4.75.

The company has a debt-to-equity ratio of 2.23, a current ratio of 1.14 and a quick ratio of 0.68.

Several hedge funds have recently added to or reduced their stakes in the company. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Companhia Siderurgica Nacional during the first quarter valued at approximately $15,500,000. Renaissance Technologies LLC lifted its holdings in shares of Companhia Siderurgica Nacional by 217.9% during the first quarter. Renaissance Technologies LLC now owns 3,536,700 shares of the basic materials company’s stock valued at $14,536,000 after purchasing an additional 2,424,100 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Companhia Siderurgica Nacional by 797.9% during the third quarter. JPMorgan Chase & Co. now owns 1,993,863 shares of the basic materials company’s stock valued at $4,546,000 after purchasing an additional 1,771,802 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Companhia Siderurgica Nacional during the first quarter valued at approximately $8,153,000. Finally, Morgan Stanley lifted its holdings in shares of Companhia Siderurgica Nacional by 459.5% during the third quarter. Morgan Stanley now owns 1,560,624 shares of the basic materials company’s stock valued at $3,558,000 after purchasing an additional 1,281,702 shares during the last quarter. Hedge funds and other institutional investors own 2.42% of the company’s stock.

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Companhia Siderurgica Nacional Company Profile (NYSE:SID)

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. The company operates in five segments: Steel, Mining, Cement, Logistics, and Energy. It offers flat steel, such as 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 that consist 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.

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