Companhia Siderurgica Nacional (NYSE:SID) was down 5.9% during mid-day trading on Wednesday . The company traded as low as $3.48 and last traded at $3.49, approximately 4,093,823 shares traded hands during trading. An increase of 4% from the average daily volume of 3,918,640 shares. The stock had previously closed at $3.71.

A number of analysts recently issued reports on SID shares. ValuEngine cut Companhia Siderurgica Nacional from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Morgan Stanley cut shares of Companhia Siderurgica Nacional from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, June 11th. Zacks Investment Research cut shares of Companhia Siderurgica Nacional from a “buy” rating to a “hold” rating in a research note on Wednesday, April 17th. Finally, TheStreet raised shares of Companhia Siderurgica Nacional from a “c” rating to a “b-” rating in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $4.75.

The firm has a market capitalization of $4.99 billion, a P/E ratio of 3.68 and a beta of 1.75. The company has a 50 day moving average of $4.23. The company has a quick ratio of 0.71, a current ratio of 1.23 and a debt-to-equity ratio of 1.90.

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE grew its stake in shares of Companhia Siderurgica Nacional by 487.3% in the second quarter. Bank of America Corp DE now owns 2,934,247 shares of the basic materials company’s stock valued at $12,647,000 after buying an additional 2,434,637 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Companhia Siderurgica Nacional by 216.6% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,084,734 shares of the basic materials company’s stock valued at $8,985,000 after buying an additional 1,426,333 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Companhia Siderurgica Nacional by 1,220.5% in the first quarter. Acadian Asset Management LLC now owns 958,997 shares of the basic materials company’s stock valued at $3,941,000 after buying an additional 886,375 shares in the last quarter. SPX Equities Gestao de Recursos Ltda bought a new position in shares of Companhia Siderurgica Nacional in the second quarter valued at $2,354,000. Finally, Vanguard Group Inc. grew its stake in shares of Companhia Siderurgica Nacional by 5.7% in the second quarter. Vanguard Group Inc. now owns 8,335,438 shares of the basic materials company’s stock valued at $35,926,000 after buying an additional 446,622 shares in the last quarter. 4.22% of the stock is owned by institutional investors.

Companhia Siderurgica Nacional Company Profile (NYSE:SID)

Companhia Siderúrgica Nacional operates as an integrated steel producer in Brazil and Latin America. The company operates in five segments: Steel, Mining, Cement, Logistics, and Energy. It offers flat steel, such as 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 that consist 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.

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