Companhia Siderúrgica Nacional (NYSE:SID) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of Companhia Siderúrgica Nacional (NYSE:SID) from a buy rating to a hold rating in a research report report published on Tuesday morning.

Companhia Siderúrgica Nacional Stock Up 0.3 %

Shares of NYSE:SID opened at $1.94 on Tuesday. The business’s 50-day simple moving average is $2.05 and its 200 day simple moving average is $2.18. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 2.77. Companhia Siderúrgica Nacional has a one year low of $1.82 and a one year high of $4.03.

Companhia Siderúrgica Nacional Cuts Dividend

The company also recently declared a dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 29th were issued a dividend of $0.0952 per share. The ex-dividend date was Friday, November 29th. Companhia Siderúrgica Nacional’s payout ratio is -733.09%.

Hedge Funds Weigh In On Companhia Siderúrgica Nacional

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in Companhia Siderúrgica Nacional in the second quarter valued at about $153,000. Sequoia Financial Advisors LLC acquired a new position in shares of Companhia Siderúrgica Nacional in the 2nd quarter valued at approximately $38,000. Wealthstream Advisors Inc. purchased a new position in shares of Companhia Siderúrgica Nacional during the 2nd quarter valued at approximately $36,000. Van ECK Associates Corp grew its position in shares of 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, Headlands Technologies LLC bought a new stake in shares of Companhia Siderúrgica Nacional in the second quarter worth $52,000.

About Companhia Siderúrgica Nacional

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.