Point72 Asset Management L.P. Boosts Stock Position in Companhia Siderúrgica Nacional (NYSE:SID)

Point72 Asset Management L.P. raised its stake in shares of Companhia Siderúrgica Nacional (NYSE:SID) by 352.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 300,998 shares of the basic materials company’s stock after buying an additional 234,498 shares during the quarter. Point72 Asset Management L.P.’s holdings in Companhia Siderúrgica Nacional were worth $719,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Inspire Investing LLC purchased a new position in shares of Companhia Siderúrgica Nacional in the 2nd quarter worth about $27,000. Sivia Capital Partners LLC bought a new stake in Companhia Siderúrgica Nacional during the 3rd quarter valued at about $30,000. Vanguard Personalized Indexing Management LLC purchased a new position in Companhia Siderúrgica Nacional in the second quarter worth about $28,000. PDS Planning Inc bought a new position in shares of Companhia Siderúrgica Nacional in the third quarter worth approximately $32,000. Finally, Wealthstream Advisors Inc. purchased a new stake in shares of Companhia Siderúrgica Nacional during the second quarter valued at approximately $36,000.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Companhia Siderúrgica Nacional from a “buy” rating to a “hold” rating in a research report on Tuesday.

Companhia Siderúrgica Nacional Stock Performance

SID opened at $1.94 on Thursday. The company’s 50-day simple moving average is $2.04 and its two-hundred day simple moving average is $2.18. The company has a debt-to-equity ratio of 2.77, a quick ratio of 0.93 and a current ratio of 1.34. Companhia Siderúrgica Nacional has a 52-week low of $1.82 and a 52-week high of $4.03.

Companhia Siderúrgica Nacional Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 29th were given a $0.0952 dividend. The ex-dividend date was Friday, November 29th. Companhia Siderúrgica Nacional’s dividend payout ratio (DPR) is presently -733.09%.

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.