Hsbc Holdings PLC Sells 77,206 Shares of Companhia Siderúrgica Nacional (NYSE:SID)

Hsbc Holdings PLC decreased its holdings in Companhia Siderúrgica Nacional (NYSE:SID) by 28.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 197,916 shares of the basic materials company’s stock after selling 77,206 shares during the period. Hsbc Holdings PLC’s holdings in Companhia Siderúrgica Nacional were worth $453,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Renaissance Technologies LLC lifted its stake in Companhia Siderúrgica Nacional by 51.7% in the 2nd quarter. Renaissance Technologies LLC now owns 1,928,396 shares of the basic materials company’s stock valued at $4,435,000 after purchasing an additional 656,983 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Companhia Siderúrgica Nacional by 14.7% during the 2nd quarter. American Century Companies Inc. now owns 1,846,867 shares of the basic materials company’s stock valued at $4,248,000 after acquiring an additional 236,340 shares in the last quarter. Van ECK Associates Corp grew its position in Companhia Siderúrgica Nacional by 17.3% during the 2nd quarter. Van ECK Associates Corp now owns 1,841,944 shares of the basic materials company’s stock worth $4,236,000 after acquiring an additional 271,176 shares during the last quarter. Advisors Asset Management Inc. acquired a new position in Companhia Siderúrgica Nacional in the 1st quarter worth about $311,000. Finally, BNP Paribas Financial Markets raised its position in Companhia Siderúrgica Nacional by 880.8% in the first quarter. BNP Paribas Financial Markets now owns 69,051 shares of the basic materials company’s stock valued at $216,000 after purchasing an additional 62,011 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Companhia Siderúrgica Nacional from a “strong-buy” rating to a “buy” rating in a research note on Wednesday.

Companhia Siderúrgica Nacional Stock Performance

Shares of Companhia Siderúrgica Nacional stock opened at $2.41 on Wednesday. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 26.78, a P/E/G ratio of 0.72 and a beta of 2.13. The company has a quick ratio of 0.89, a current ratio of 1.29 and a debt-to-equity ratio of 2.56. Companhia Siderúrgica Nacional has a twelve month low of $1.89 and a twelve month high of $4.03. The company’s fifty day moving average is $2.15 and its 200 day moving average is $2.47.

Companhia Siderúrgica Nacional (NYSE:SID) last issued its quarterly earnings results on Monday, August 12th. The basic materials company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.18. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Companhia Siderúrgica Nacional had a negative return on equity of 0.79% and a negative net margin of 0.34%. Sell-side analysts forecast that Companhia Siderúrgica Nacional will post 0.38 EPS for the current year.

About Companhia Siderúrgica Nacional

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. It operates through 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 consisting 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.