Companhia Siderúrgica Nacional (NYSE:SID) Hits New 52-Week Low – Here’s Why

Companhia Siderúrgica Nacional (NYSE:SID) reached a new 52-week low on Saturday . The stock traded as low as $1.82 and last traded at $1.87, with a volume of 1674761 shares trading hands. The stock had previously closed at $2.00.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Companhia Siderúrgica Nacional from a “strong-buy” rating to a “buy” rating in a research note on Thursday, October 10th.

Companhia Siderúrgica Nacional Stock Performance

The company has a current ratio of 1.29, a quick ratio of 0.89 and a debt-to-equity ratio of 2.56. The business’s fifty day simple moving average is $2.11 and its 200 day simple moving average is $2.22.

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 $0.0952 dividend. The ex-dividend date of this dividend was Friday, November 29th. Companhia Siderúrgica Nacional’s dividend payout ratio is -433.19%.

Hedge Funds Weigh In On Companhia Siderúrgica Nacional

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

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.