Short Interest in Companhia Siderúrgica Nacional (NYSE:SID) Drops By 27.7%

Companhia Siderúrgica Nacional (NYSE:SID) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 3,470,000 shares, a decline of 27.7% from the August 15th total of 4,800,000 shares. Approximately 0.3% of the shares of the company are short sold. Based on an average daily trading volume, of 4,330,000 shares, the days-to-cover ratio is presently 0.8 days.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Citigroup Inc. raised its position in shares of Companhia Siderúrgica Nacional by 101.7% in the second quarter. Citigroup Inc. now owns 3,539 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 1,784 shares during the period. Quadrant Capital Group LLC raised its position in shares of Companhia Siderúrgica Nacional by 186.7% in the second quarter. Quadrant Capital Group LLC now owns 5,304 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 3,454 shares during the period. XTX Topco Ltd acquired a new position in shares of Companhia Siderúrgica Nacional in the first quarter worth about $79,000. New York State Common Retirement Fund acquired a new position in shares of Companhia Siderúrgica Nacional in the second quarter worth about $80,000. Finally, Balyasny Asset Management LLC acquired a new position in shares of Companhia Siderúrgica Nacional in the second quarter worth about $96,000. Institutional investors own 2.94% of the company’s stock.

SID has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of Companhia Siderúrgica Nacional from a “strong-buy” rating to a “hold” rating and set a $7.25 price objective on the stock. in a report on Monday, August 23rd. TheStreet raised shares of Companhia Siderúrgica Nacional from a “c+” rating to a “b-” rating in a report on Thursday, June 24th.

NYSE SID traded down $0.21 on Monday, reaching $5.43. 5,192,433 shares of the company’s stock traded hands, compared to its average volume of 4,186,875. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of 2.64, a P/E/G ratio of 0.09 and a beta of 1.81. The stock has a 50 day moving average price of $7.74 and a 200-day moving average price of $7.99. Companhia Siderúrgica Nacional has a fifty-two week low of $2.70 and a fifty-two week high of $10.33. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.67 and a current ratio of 2.05.

Companhia Siderúrgica Nacional (NYSE:SID) last posted its earnings results on Monday, July 26th. The basic materials company reported $3.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $2.54. The company had revenue of $2.91 billion during the quarter, compared to the consensus estimate of $2.92 billion. Companhia Siderúrgica Nacional had a net margin of 34.69% and a return on equity of 105.00%. As a group, equities research analysts anticipate that Companhia Siderúrgica Nacional will post 3.18 EPS for the current fiscal year.

The firm also recently announced a — dividend, which was paid on Tuesday, August 17th. Investors of record on Monday, August 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, August 6th. This is an increase from Companhia Siderúrgica Nacional’s previous — dividend of $0.00. This represents a yield of 2.63%. Companhia Siderúrgica Nacional’s payout ratio is currently 75.00%.

About Companhia Siderúrgica Nacional

Companhia Siderurgica Nacional engages in the production and sale of integrated steel. It operates through the following segments: Steel, Mining, Cement, Logistics, and Energy. The Steel segment offers flat steel, long steel, metallic containers, and galvanized steel. The Mining segment encompasses the activities of iron ore and tin mining.

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