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

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

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 Down 4.9 %

The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of -48.82 and a beta of 2.12. The business has a fifty day moving average of $1.96 and a 200 day moving average of $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 company also recently announced a dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 29th were given a $0.0952 dividend. The ex-dividend date was Friday, November 29th. Companhia Siderúrgica Nacional’s payout ratio is -146.67%.

Institutional Trading of Companhia Siderúrgica Nacional

A number of large investors have recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Companhia Siderúrgica Nacional during the third quarter worth $3,824,000. The Manufacturers Life Insurance Company acquired a new position in shares of Companhia Siderúrgica Nacional during the third quarter worth $3,585,000. Renaissance Technologies LLC grew its stake 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 purchasing an additional 656,983 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Companhia Siderúrgica Nacional by 17.3% during the second 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 in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Companhia Siderúrgica Nacional by 14.7% during the second quarter. American Century Companies Inc. now owns 1,846,867 shares of the basic materials company’s stock worth $4,248,000 after purchasing an additional 236,340 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.