Headlands Technologies LLC Buys New Stake in Companhia Siderúrgica Nacional (NYSE:SID)

Headlands Technologies LLC purchased a new position in shares of Companhia Siderúrgica Nacional (NYSE:SID) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 22,558 shares of the basic materials company’s stock, valued at approximately $52,000.

Several other institutional investors and hedge funds have also made changes to their positions in SID. Van ECK Associates Corp lifted its stake in 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 during the last quarter. Banco BTG Pactual S.A. purchased a new position in shares of Companhia Siderúrgica Nacional in the 4th quarter valued at $1,510,000. Advisors Asset Management Inc. purchased a new position in shares of Companhia Siderúrgica Nacional in the 1st quarter valued at $311,000. BNP Paribas Financial Markets raised its stake in Companhia Siderúrgica Nacional by 880.8% during the 1st quarter. BNP Paribas Financial Markets now owns 69,051 shares of the basic materials company’s stock worth $216,000 after acquiring an additional 62,011 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Companhia Siderúrgica Nacional in the second quarter valued at $153,000.

Companhia Siderúrgica Nacional Stock Performance

SID stock opened at $2.18 on Tuesday. The company has a fifty day moving average price of $2.18 and a 200 day moving average price of $2.55. The company has a current ratio of 1.29, a quick ratio of 0.89 and a debt-to-equity ratio of 2.56. Companhia Siderúrgica Nacional has a 12 month low of $1.89 and a 12 month high of $4.03.

Companhia Siderúrgica Nacional (NYSE:SID) last announced its earnings results on Monday, August 12th. The basic materials company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.18. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $1.94 billion. Companhia Siderúrgica Nacional had a negative net margin of 0.34% and a negative return on equity of 0.79%. Equities research analysts anticipate that Companhia Siderúrgica Nacional will post 0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Companhia Siderúrgica Nacional from a “hold” rating to a “buy” rating in a research report on Friday, August 16th.

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, 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.