Companhia Siderúrgica Nacional (NYSE:SID) Shares Gap Down – What’s Next?

Companhia Siderúrgica Nacional (NYSE:SID) gapped down before the market opened on Wednesday . The stock had previously closed at $1.56, but opened at $1.48. Companhia Siderúrgica Nacional shares last traded at $1.47, with a volume of 246,832 shares trading hands.

Analyst Upgrades and Downgrades

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

Companhia Siderúrgica Nacional Stock Performance

The company has a market cap of $1.98 billion, a P/E ratio of -9.97 and a beta of 2.14. The company has a quick ratio of 0.93, a current ratio of 1.34 and a debt-to-equity ratio of 2.77. The stock has a 50 day moving average price of $1.54 and a two-hundred day moving average price of $1.91.

Companhia Siderúrgica Nacional Cuts Dividend

The company 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 of this dividend was Friday, November 29th. Companhia Siderúrgica Nacional’s dividend payout ratio (DPR) is currently -146.66%.

Institutional Investors Weigh In On Companhia Siderúrgica Nacional

Large investors have recently modified their holdings of the business. American Century Companies Inc. boosted its holdings in shares of Companhia Siderúrgica Nacional by 4.2% during the 4th quarter. American Century Companies Inc. now owns 2,173,564 shares of the basic materials company’s stock valued at $3,130,000 after acquiring an additional 87,403 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Companhia Siderúrgica Nacional during the 3rd quarter valued at $3,824,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Companhia Siderúrgica Nacional during the 3rd quarter valued at $3,585,000. BNP Paribas Financial Markets boosted its holdings in shares of Companhia Siderúrgica Nacional by 11.8% during 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, JPMorgan Chase & Co. boosted its holdings in shares of Companhia Siderúrgica Nacional by 48,194.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 441,898 shares of the basic materials company’s stock valued at $1,056,000 after acquiring an additional 440,983 shares in the last quarter.

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.