The Manufacturers Life Insurance Company Takes Position in Companhia Siderúrgica Nacional (NYSE:SID)

The Manufacturers Life Insurance Company acquired a new position in Companhia Siderúrgica Nacional (NYSE:SID) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,500,000 shares of the basic materials company’s stock, valued at approximately $3,585,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its stake in shares of 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 valued at $4,435,000 after acquiring an additional 656,983 shares in the last quarter. American Century Companies Inc. raised its position in 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 purchasing an additional 236,340 shares in the last quarter. Van ECK Associates Corp raised 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 in the last quarter. AQR Capital Management LLC boosted its stake in shares of Companhia Siderúrgica Nacional by 19.9% in the 2nd quarter. AQR Capital Management LLC now owns 96,126 shares of the basic materials company’s stock valued at $221,000 after buying an additional 15,942 shares during the period. Finally, Inspire Advisors LLC grew its position in shares of Companhia Siderúrgica Nacional by 27.5% during the third quarter. Inspire Advisors LLC now owns 67,120 shares of the basic materials company’s stock worth $160,000 after buying an additional 14,473 shares in the last quarter.

Wall Street Analysts Forecast Growth

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

Companhia Siderúrgica Nacional Stock Down 2.7 %

Shares of Companhia Siderúrgica Nacional stock opened at $1.83 on Friday. Companhia Siderúrgica Nacional has a 52-week low of $1.82 and a 52-week high of $4.03. The company’s 50-day simple moving average is $2.07 and its 200-day simple moving average is $2.19. The company has a current ratio of 1.34, a quick ratio of 0.89 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. Stockholders of record on Friday, November 29th were given a $0.0952 dividend. The ex-dividend date of this dividend was Friday, November 29th. Companhia Siderúrgica Nacional’s dividend payout ratio is presently -733.09%.

About Companhia Siderúrgica Nacional

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.