Investors Purchase Large Volume of Call Options on Companhia Siderúrgica Nacional (NYSE:SID)

Companhia Siderúrgica Nacional (NYSE:SID) was the recipient of unusually large options trading activity on Friday. Investors acquired 3,883 call options on the company. This is an increase of 1,933% compared to the typical volume of 191 call options.

Institutional Investors Weigh In On Companhia Siderúrgica Nacional

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Companhia Siderúrgica Nacional by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 5,314,589 shares of the basic materials company’s stock valued at $12,702,000 after purchasing an additional 126,736 shares in the last quarter. BlackRock Inc. raised its stake in shares of Companhia Siderúrgica Nacional by 34.4% in the 2nd quarter. BlackRock Inc. now owns 3,468,677 shares of the basic materials company’s stock valued at $8,984,000 after purchasing an additional 887,993 shares in the last quarter. Van ECK Associates Corp raised its stake in Companhia Siderúrgica Nacional by 41.9% during the fourth quarter. Van ECK Associates Corp now owns 1,703,380 shares of the basic materials company’s stock worth $6,694,000 after acquiring an additional 502,993 shares during the period. State Street Corp raised its stake in Companhia Siderúrgica Nacional by 2.5% during the second quarter. State Street Corp now owns 1,529,158 shares of the basic materials company’s stock worth $4,149,000 after acquiring an additional 37,248 shares during the period. Finally, American Century Companies Inc. raised its stake in Companhia Siderúrgica Nacional by 9.3% during the third quarter. American Century Companies Inc. now owns 1,374,594 shares of the basic materials company’s stock worth $3,285,000 after acquiring an additional 117,194 shares during the period.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on SID shares. Bank of America cut shares of Companhia Siderúrgica Nacional from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $3.90 to $2.90 in a research report on Tuesday, April 9th. StockNews.com cut shares of Companhia Siderúrgica Nacional from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, April 3rd. Finally, Itau BBA Securities reissued an “underperform” rating and issued a $3.00 price objective on shares of Companhia Siderúrgica Nacional in a research report on Thursday, April 4th.

Companhia Siderúrgica Nacional Stock Up 3.5 %

NYSE:SID opened at $2.82 on Friday. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.32 and a quick ratio of 0.94. The firm has a 50-day moving average of $3.20 and a two-hundred day moving average of $3.16. Companhia Siderúrgica Nacional has a 1-year low of $2.11 and a 1-year high of $4.03.

Companhia Siderúrgica Nacional (NYSE:SID) last posted its quarterly earnings data on Thursday, March 7th. The basic materials company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $2.42 billion during the quarter. Companhia Siderúrgica Nacional had a net margin of 0.76% and a return on equity of 1.69%. As a group, equities analysts anticipate that Companhia Siderúrgica Nacional will post 0.16 earnings per share for the current fiscal year.

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, Mining, Logistics, Energy, and Cement. The company offers flat steel products, such as high, medium, low carbon, micro-alloyed, ultra-low-carbon, and interstitial free 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 consisting 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.