First Allied Advisory Services Inc. Sells 4,741 Shares of Companhia Siderurgica Nacional (NYSE:SID)

First Allied Advisory Services Inc. lowered its stake in shares of Companhia Siderurgica Nacional (NYSE:SID) by 18.3% during the third quarter, HoldingsChannel reports. The fund owned 21,096 shares of the basic materials company’s stock after selling 4,741 shares during the quarter. First Allied Advisory Services Inc.’s holdings in Companhia Siderurgica Nacional were worth $65,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of SID. Bank of America Corp DE boosted its stake in Companhia Siderurgica Nacional by 487.3% during the second quarter. Bank of America Corp DE now owns 2,934,247 shares of the basic materials company’s stock worth $12,647,000 after buying an additional 2,434,637 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Companhia Siderurgica Nacional by 216.6% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,084,734 shares of the basic materials company’s stock worth $8,985,000 after buying an additional 1,426,333 shares in the last quarter. Vanguard Group Inc. boosted its stake in Companhia Siderurgica Nacional by 5.7% during the second quarter. Vanguard Group Inc. now owns 8,335,438 shares of the basic materials company’s stock worth $35,926,000 after buying an additional 446,622 shares in the last quarter. A.R.T. Advisors LLC boosted its stake in Companhia Siderurgica Nacional by 177.2% during the second quarter. A.R.T. Advisors LLC now owns 543,265 shares of the basic materials company’s stock worth $2,341,000 after buying an additional 347,300 shares in the last quarter. Finally, Pinebridge Investments L.P. boosted its stake in Companhia Siderurgica Nacional by 196.4% during the second quarter. Pinebridge Investments L.P. now owns 500,220 shares of the basic materials company’s stock worth $2,156,000 after buying an additional 331,461 shares in the last quarter. Hedge funds and other institutional investors own 3.74% of the company’s stock.

Shares of NYSE:SID opened at $2.84 on Monday. Companhia Siderurgica Nacional has a 52 week low of $2.10 and a 52 week high of $4.71. The company has a debt-to-equity ratio of 2.36, a quick ratio of 0.58 and a current ratio of 1.06. The company’s fifty day moving average is $3.02 and its 200-day moving average is $3.68. The company has a market capitalization of $3.93 billion, a PE ratio of 2.99 and a beta of 1.84.

Companhia Siderurgica Nacional (NYSE:SID) last issued its earnings results on Monday, September 16th. The basic materials company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.02. Companhia Siderurgica Nacional had a net margin of 10.33% and a return on equity of 23.93%. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.73 billion. On average, analysts forecast that Companhia Siderurgica Nacional will post 0.46 EPS for the current year.

A number of equities research analysts have weighed in on the stock. ValuEngine downgraded shares of Companhia Siderurgica Nacional from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded shares of Companhia Siderurgica Nacional from a “strong-buy” rating to a “hold” rating and set a $4.00 price target on the stock. in a research note on Tuesday, September 24th. BTIG Research downgraded shares of Companhia Siderurgica Nacional from a “buy” rating to a “neutral” rating in a research note on Thursday, October 24th. Finally, TheStreet downgraded shares of Companhia Siderurgica Nacional from a “b-” rating to a “c” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $4.00.

About Companhia Siderurgica Nacional

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.

Featured Article: Understanding the two types of arbitrage

Want to see what other hedge funds are holding SID? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Companhia Siderurgica Nacional (NYSE:SID).

Institutional Ownership by Quarter for Companhia Siderurgica Nacional (NYSE:SID)

Receive News & Ratings for Companhia Siderurgica Nacional Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Companhia Siderurgica Nacional and related companies with MarketBeat.com's FREE daily email newsletter.