Companhia Siderúrgica Nacional (NYSE:SID) Shares Gap Down – What’s Next?

Companhia Siderúrgica Nacional (NYSE:SID)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $1.47, but opened at $1.43. Companhia Siderúrgica Nacional shares last traded at $1.45, with a volume of 387,697 shares changing hands.

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 Trading Down 2.0 %

The firm has a 50-day moving average of $1.90 and a 200 day moving average of $2.11. The company has a market cap of $2.00 billion, a P/E ratio of -47.98 and a beta of 2.12. 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 Cuts Dividend

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

Institutional Investors Weigh In On Companhia Siderúrgica Nacional

A number of large investors have recently bought and sold shares of SID. Renaissance Technologies LLC boosted its holdings in Companhia Siderúrgica Nacional by 51.7% in the second quarter. Renaissance Technologies LLC now owns 1,928,396 shares of the basic materials company’s stock worth $4,435,000 after acquiring an additional 656,983 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Companhia Siderúrgica Nacional by 14.7% in the 2nd quarter. American Century Companies Inc. now owns 1,846,867 shares of the basic materials company’s stock worth $4,248,000 after purchasing an additional 236,340 shares in the last quarter. Van ECK Associates Corp grew its position in Companhia Siderúrgica Nacional by 17.3% in the 2nd quarter. Van ECK Associates Corp now owns 1,841,944 shares of the basic materials company’s stock valued at $4,236,000 after purchasing an additional 271,176 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Companhia Siderúrgica Nacional during the 3rd quarter valued at $3,824,000. Finally, The Manufacturers Life Insurance Company acquired a new position in Companhia Siderúrgica Nacional during the third quarter worth $3,585,000.

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 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.