Companhia Siderúrgica Nacional (NYSE:SID) Sees Significant Increase in Short Interest

Companhia Siderúrgica Nacional (NYSE:SID) saw a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 9,460,000 shares, a growth of 24.6% from the December 15th total of 7,590,000 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average daily trading volume, of 2,420,000 shares, the days-to-cover ratio is presently 3.9 days.

Wall Street Analyst Weigh In

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

Companhia Siderúrgica Nacional Stock Performance

Shares of NYSE SID traded up $0.03 during mid-day trading on Friday, reaching $1.40. The company had a trading volume of 1,843,298 shares, compared to its average volume of 2,567,192. Companhia Siderúrgica Nacional has a 52 week low of $1.27 and a 52 week high of $3.84. The business’s 50-day moving average is $1.69 and its 200-day moving average is $2.01. The company has a current ratio of 1.34, a quick ratio of 0.93 and a debt-to-equity ratio of 2.77.

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 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 presently -146.66%.

Hedge Funds Weigh In On Companhia Siderúrgica Nacional

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its holdings in shares of Companhia Siderúrgica Nacional by 51.7% in the second quarter. Renaissance Technologies LLC now owns 1,928,396 shares of the basic materials company’s stock valued at $4,435,000 after acquiring an additional 656,983 shares in the last quarter. American Century Companies Inc. boosted its position in Companhia Siderúrgica Nacional by 14.7% during the 2nd quarter. American Century Companies Inc. now owns 1,846,867 shares of the basic materials company’s stock valued at $4,248,000 after acquiring an additional 236,340 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Companhia Siderúrgica Nacional during the 3rd quarter valued at $3,824,000. The Manufacturers Life Insurance Company bought a new stake in Companhia Siderúrgica Nacional during the 3rd quarter valued at $3,585,000. Finally, BNP Paribas Financial Markets lifted its stake 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 worth $1,475,000 after purchasing an additional 65,219 shares during the last quarter.

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 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.