Companhia Siderúrgica Nacional (NYSE:SID) Raises Dividend to $0.15 Per Share

Companhia Siderúrgica Nacional (NYSE:SID) announced a — dividend on Monday, November 20th, Wall Street Journal reports. Shareholders of record on Friday, November 24th will be paid 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 a positive change from Companhia Siderúrgica Nacional’s previous — dividend of $0.12.

Companhia Siderúrgica Nacional Price Performance

Shares of NYSE SID traded up $0.33 during mid-day trading on Monday, reaching $3.33. The company’s stock had a trading volume of 5,720,504 shares, compared to its average volume of 2,859,441. The stock has a 50-day moving average of $2.40 and a two-hundred day moving average of $2.55. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.01 and a current ratio of 1.53. The stock has a market capitalization of $4.62 billion, a P/E ratio of -109.33, a P/E/G ratio of 2.06 and a beta of 1.84. Companhia Siderúrgica Nacional has a 1-year low of $2.11 and a 1-year high of $3.70.

Hedge Funds Weigh In On Companhia Siderúrgica Nacional

A number of institutional investors have recently bought and sold shares of SID. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Companhia Siderúrgica Nacional by 4.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 62,453 shares of the basic materials company’s stock worth $339,000 after buying an additional 2,595 shares during the last quarter. Sei Investments Co. grew its position in Companhia Siderúrgica Nacional by 31.8% in the first quarter. Sei Investments Co. now owns 13,378 shares of the basic materials company’s stock worth $73,000 after acquiring an additional 3,224 shares during the period. Advisor Group Holdings Inc. increased its stake in Companhia Siderúrgica Nacional by 14.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 28,000 shares of the basic materials company’s stock worth $77,000 after acquiring an additional 3,500 shares during the last quarter. UBS Group AG raised its position in Companhia Siderúrgica Nacional by 15.4% in the third quarter. UBS Group AG now owns 34,598 shares of the basic materials company’s stock valued at $83,000 after purchasing an additional 4,623 shares during the period. Finally, Two Sigma Securities LLC lifted its stake in shares of Companhia Siderúrgica Nacional by 29.1% in the 1st quarter. Two Sigma Securities LLC now owns 22,032 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 4,968 shares during the last quarter. 2.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

About Companhia Siderúrgica Nacional

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.