Companhia Siderurgica Nacional (SID) Upgraded to “Hold” at Zacks Investment Research
According to Zacks, “Companhia Siderurgica Nacional's diversified business structure with exposure in steel, iron ore mining, logistics, cement and energy industries will prove beneficial over the long run. Also, demand for domestic steel will likely improve with the increase in infrastructural investments. However, the company is exposed to risks arising from near-term headwinds. Huge debt levels and higher costs and expenses, if left unchecked, will prove detrimental to the company's profitability. Moreover, its international operations are subject to risks from unfavorable foreign currency translations.”
Companhia Siderurgica Nacional (NYSE:SID) traded up 0.909% during midday trading on Thursday, reaching $2.775. 348,341 shares of the company traded hands. Companhia Siderurgica Nacional has a one year low of $0.73 and a one year high of $3.92. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of 20.709 and a beta of 2.37. The stock’s 50 day moving average is $2.81 and its 200 day moving average is $2.70.
Several hedge funds have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC raised its stake in shares of Companhia Siderurgica Nacional by 19.1% in the second quarter. Parametric Portfolio Associates LLC now owns 8,927,474 shares of the company’s stock worth $21,872,000 after buying an additional 1,428,672 shares during the last quarter. Arlington Capital Management Inc. acquired a new stake in shares of Companhia Siderurgica Nacional during the second quarter worth approximately $10,605,000. Van ECK Associates Corp raised its stake in shares of Companhia Siderurgica Nacional by 70.4% in the second quarter. Van ECK Associates Corp now owns 2,142,826 shares of the company’s stock worth $5,250,000 after buying an additional 885,201 shares during the last quarter. State Street Corp raised its stake in shares of Companhia Siderurgica Nacional by 1.2% in the second quarter. State Street Corp now owns 1,636,342 shares of the company’s stock worth $4,008,000 after buying an additional 18,653 shares during the last quarter. Finally, BlackRock Group LTD raised its stake in shares of Companhia Siderurgica Nacional by 13.4% in the second quarter. BlackRock Group LTD now owns 1,102,236 shares of the company’s stock worth $2,700,000 after buying an additional 130,308 shares during the last quarter. 3.52% of the stock is owned by hedge funds and other institutional investors.
About Companhia Siderurgica Nacional
Companhia Siderurgica Nacional operates throughout the entire steel production chain, from the mining of iron ore to the production and sale of a range of steel products, including coated galvanized flat steel and tinplate. The Company operates through five segments: steel, mining, cement, logistics and energy.
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