JPMorgan Chase & Co. Purchases 440,983 Shares of Companhia Siderúrgica Nacional (NYSE:SID)

JPMorgan Chase & Co. grew its holdings in shares of Companhia Siderúrgica Nacional (NYSE:SID) by 48,194.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 441,898 shares of the basic materials company’s stock after buying an additional 440,983 shares during the period. JPMorgan Chase & Co.’s holdings in Companhia Siderúrgica Nacional were worth $1,056,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SID. Renaissance Technologies LLC increased its stake in Companhia Siderúrgica Nacional by 51.7% during 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 in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Companhia Siderúrgica Nacional during the third quarter valued at approximately $3,824,000. The Manufacturers Life Insurance Company purchased a new position in Companhia Siderúrgica Nacional in the 3rd quarter worth approximately $3,585,000. BNP Paribas Financial Markets lifted its position in Companhia Siderúrgica Nacional by 11.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 617,047 shares of the basic materials company’s stock valued at $1,475,000 after acquiring an additional 65,219 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new position in Companhia Siderúrgica Nacional in the 2nd quarter valued at approximately $153,000.

Companhia Siderúrgica Nacional Stock Performance

Shares of NYSE SID opened at $1.47 on Friday. The firm’s 50-day moving average price is $1.64 and its 200-day moving average price is $1.97. Companhia Siderúrgica Nacional has a 52-week low of $1.27 and a 52-week high of $3.84. The company has a market cap of $2.03 billion, a PE ratio of -9.77 and a beta of 2.15. The company has a quick ratio of 0.93, a current ratio of 1.34 and a debt-to-equity ratio of 2.77.

Companhia Siderúrgica Nacional Cuts Dividend

The business also recently disclosed a dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 29th were paid a $0.0952 dividend. The ex-dividend date was Friday, November 29th. Companhia Siderúrgica Nacional’s dividend payout ratio (DPR) is -146.67%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Companhia Siderúrgica Nacional from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th.

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.