Savvy Advisors Inc. Acquires New Stake in Companhia Siderúrgica Nacional (NYSE:SID)

Savvy Advisors Inc. acquired a new position in shares of Companhia Siderúrgica Nacional (NYSE:SID) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 23,146 shares of the basic materials company’s stock, valued at approximately $55,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its holdings 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 buying an additional 656,983 shares in the last quarter. American Century Companies Inc. raised its holdings 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 acquiring an additional 236,340 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of 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 purchasing an additional 271,176 shares during the period. Advisors Asset Management Inc. acquired a new stake in shares of Companhia Siderúrgica Nacional during the first quarter worth $311,000. Finally, AQR Capital Management LLC grew its position in shares of Companhia Siderúrgica Nacional by 19.9% in the second quarter. AQR Capital Management LLC now owns 96,126 shares of the basic materials company’s stock valued at $221,000 after purchasing an additional 15,942 shares during the period.

Analyst Ratings Changes

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

Companhia Siderúrgica Nacional Stock Performance

NYSE:SID opened at $1.84 on Thursday. The company has a market cap of $2.55 billion, a P/E ratio of -61.17 and a beta of 2.16. The firm’s 50 day moving average is $2.15 and its two-hundred day moving average is $2.29. Companhia Siderúrgica Nacional has a fifty-two week low of $1.82 and a fifty-two week high of $4.03. 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 (NYSE:SID) last issued 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. Companhia Siderúrgica Nacional had a negative return on equity of 0.79% and a negative net margin of 0.34%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $1.94 billion. Analysts expect that Companhia Siderúrgica Nacional will post 0.31 EPS for the current year.

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.