Companhia Siderúrgica Nacional (NYSE:SID) Lowered to Neutral at Bradesco Corretora

Bradesco Corretora lowered shares of Companhia Siderúrgica Nacional (NYSE:SIDGet Rating) from an outperform rating to a neutral rating in a research note published on Wednesday, The Fly reports.

Other research analysts have also recently issued research reports about the stock. Bank of America cut shares of Companhia Siderúrgica Nacional from a neutral rating to an underperform rating in a report on Friday, August 26th. TheStreet lowered shares of Companhia Siderúrgica Nacional from a b- rating to a c+ rating in a research report on Monday, July 11th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, Companhia Siderúrgica Nacional presently has a consensus rating of Hold.

Companhia Siderúrgica Nacional Stock Down 5.0 %

SID opened at $2.45 on Wednesday. Companhia Siderúrgica Nacional has a fifty-two week low of $2.42 and a fifty-two week high of $5.97. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.12 and a current ratio of 1.68. The company has a fifty day moving average of $2.82 and a two-hundred day moving average of $3.79. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 2.01, a PEG ratio of 0.90 and a beta of 1.79.

Institutional Investors Weigh In On Companhia Siderúrgica Nacional

A number of institutional investors and hedge funds have recently made changes to their positions in SID. Bank of America Corp DE raised its stake in shares of Companhia Siderúrgica Nacional by 357.3% in the 4th quarter. Bank of America Corp DE now owns 1,446,582 shares of the basic materials company’s stock valued at $6,422,000 after acquiring an additional 1,130,260 shares during the period. Renaissance Technologies LLC raised its stake in shares of Companhia Siderúrgica Nacional by 39.4% in the 4th quarter. Renaissance Technologies LLC now owns 3,108,800 shares of the basic materials company’s stock valued at $13,803,000 after acquiring an additional 877,887 shares during the period. Dimensional Fund Advisors LP increased its stake in Companhia Siderúrgica Nacional by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,904,114 shares of the basic materials company’s stock worth $26,209,000 after buying an additional 730,767 shares during the period. BNP Paribas Arbitrage SA increased its stake in Companhia Siderúrgica Nacional by 625.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 480,121 shares of the basic materials company’s stock worth $1,407,000 after buying an additional 413,946 shares during the period. Finally, Credit Suisse AG increased its stake in Companhia Siderúrgica Nacional by 972.3% during the 2nd quarter. Credit Suisse AG now owns 412,464 shares of the basic materials company’s stock worth $1,208,000 after buying an additional 374,000 shares during the period. 2.82% of the stock is owned by hedge funds and other institutional investors.

Companhia Siderúrgica Nacional Company Profile

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Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates in five segments: Steel, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as high, medium, low carbon, micro-alloyed, ultra-low-carbon, and interstitial free 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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