Companhia Siderurgica Nacional (SID) Shares Gap Up After Dividend Announcement

Companhia Siderurgica Nacional (NYSE:SID)’s share price gapped up before the market opened on Wednesday after the company announced a dividend. The stock had previously closed at $4.16, but opened at $4.28. Companhia Siderurgica Nacional shares last traded at $4.12, with a volume of 187156 shares traded.

The newly announced dividend which will be paid on Wednesday, June 5th. Shareholders of record on Tuesday, May 7th will be issued a dividend of $0.163 per share. This represents a dividend yield of 3.84%. The ex-dividend date is Monday, May 6th. Companhia Siderurgica Nacional’s payout ratio is 16.84%.

A number of equities analysts have issued reports on SID shares. Standpoint Research cut Companhia Siderurgica Nacional from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Itau BBA Securities upgraded Companhia Siderurgica Nacional from a “market perform” rating to an “outperform” rating in a research report on Thursday, February 21st. Goldman Sachs Group upgraded Companhia Siderurgica Nacional from a “sell” rating to a “neutral” rating in a research report on Sunday, April 14th. ValuEngine upgraded Companhia Siderurgica Nacional from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Zacks Investment Research cut Companhia Siderurgica Nacional from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $4.75.

The company has a current ratio of 1.14, a quick ratio of 0.68 and a debt-to-equity ratio of 2.23. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 4.38 and a beta of 2.12.

Several large investors have recently made changes to their positions in SID. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Companhia Siderurgica Nacional during the 1st quarter valued at about $15,500,000. Renaissance Technologies LLC lifted its stake in Companhia Siderurgica Nacional by 217.9% during the first quarter. Renaissance Technologies LLC now owns 3,536,700 shares of the basic materials company’s stock valued at $14,536,000 after purchasing an additional 2,424,100 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Companhia Siderurgica Nacional during the first quarter valued at approximately $8,153,000. JPMorgan Chase & Co. lifted its stake in Companhia Siderurgica Nacional by 797.9% during the third quarter. JPMorgan Chase & Co. now owns 1,993,863 shares of the basic materials company’s stock valued at $4,546,000 after purchasing an additional 1,771,802 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Companhia Siderurgica Nacional by 459.5% during the third quarter. Morgan Stanley now owns 1,560,624 shares of the basic materials company’s stock valued at $3,558,000 after purchasing an additional 1,281,702 shares during the last quarter. 4.17% of the stock is owned by institutional investors and hedge funds.

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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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