Companhia Siderúrgica Nacional (NYSE:SID) Announces Dividend Increase – $0.15 Per Share

Companhia Siderúrgica Nacional (NYSE:SID) declared a — dividend on Monday, November 20th, Wall Street Journal reports. Investors of record on Friday, November 24th will be given a dividend of 0.1526 per share by the basic materials company on Wednesday, November 22nd. This represents a yield of 20.2%. The ex-dividend date of this dividend is Wednesday, November 22nd. This is an increase from Companhia Siderúrgica Nacional’s previous — dividend of $0.12.

Companhia Siderúrgica Nacional Trading Up 11.0 %

Shares of NYSE SID traded up $0.33 during trading hours on Monday, hitting $3.33. 5,720,504 shares of the company traded hands, compared to its average volume of 2,859,441. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of -109.33, a price-to-earnings-growth ratio of 2.06 and a beta of 1.84. The company’s 50 day moving average price is $2.40 and its 200 day moving average price is $2.55. Companhia Siderúrgica Nacional has a 12 month low of $2.11 and a 12 month high of $3.70. The company has a current ratio of 1.53, a quick ratio of 1.01 and a debt-to-equity ratio of 1.75.

Institutional Investors Weigh In On Companhia Siderúrgica Nacional

Several large investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. raised its stake in shares of Companhia Siderúrgica Nacional by 724.6% during the first quarter. Advisor Group Holdings Inc. now owns 6,828 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 6,000 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Companhia Siderúrgica Nacional by 272.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 11,306 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 8,271 shares during the period. Envestnet Asset Management Inc. bought a new stake in Companhia Siderúrgica Nacional during the 1st quarter valued at $36,000. Ethic Inc. purchased a new stake in shares of Companhia Siderúrgica Nacional in the 1st quarter worth $64,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Companhia Siderúrgica Nacional by 146.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,034 shares of the basic materials company’s stock valued at $33,000 after buying an additional 7,143 shares during the period. 2.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SID. Bank of America upgraded shares of Companhia Siderúrgica Nacional from an “underperform” rating to a “buy” rating and set a $4.10 target price for the company in a report on Monday. StockNews.com raised shares of Companhia Siderúrgica Nacional from a “hold” rating to a “buy” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $3.20.

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.