Companhia Siderúrgica Nacional (NYSE:SID) Stock Price Down 4.9% – Time to Sell?

Companhia Siderúrgica Nacional (NYSE:SID) dropped 4.9% during mid-day trading on Monday . The stock traded as low as $1.46 and last traded at $1.47. Approximately 2,119,525 shares traded hands during mid-day trading, a decline of 7% from the average daily volume of 2,274,447 shares. The stock had previously closed at $1.54.

Wall Street Analyst Weigh In

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

Companhia Siderúrgica Nacional Stock Down 4.9 %

The firm has a market cap of $2.03 billion, a price-to-earnings ratio of -48.82 and a beta of 2.12. The firm’s 50 day moving average price is $1.96 and its two-hundred day moving average price is $2.14. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.34 and a quick ratio of 0.93.

Companhia Siderúrgica Nacional Cuts Dividend

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

Institutional Investors Weigh In On Companhia Siderúrgica Nacional

Several hedge funds have recently made changes to their positions in SID. XTX Topco Ltd purchased a new position in Companhia Siderúrgica Nacional during the third quarter worth about $299,000. Point72 Asset Management L.P. raised its holdings in Companhia Siderúrgica Nacional by 352.6% during the third quarter. Point72 Asset Management L.P. now owns 300,998 shares of the basic materials company’s stock worth $719,000 after purchasing an additional 234,498 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Companhia Siderúrgica Nacional during the third quarter worth about $3,824,000. BNP Paribas Financial Markets raised its holdings in Companhia Siderúrgica Nacional by 11.8% during the third quarter. BNP Paribas Financial Markets now owns 617,047 shares of the basic materials company’s stock worth $1,475,000 after purchasing an additional 65,219 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in Companhia Siderúrgica Nacional during the third quarter worth about $3,585,000.

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.