Van ECK Associates Corp Has $6.69 Million Stock Holdings in Companhia Siderúrgica Nacional (NYSE:SID)

Van ECK Associates Corp lifted its position in Companhia Siderúrgica Nacional (NYSE:SID) by 41.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,703,380 shares of the basic materials company’s stock after buying an additional 502,993 shares during the period. Van ECK Associates Corp’s holdings in Companhia Siderúrgica Nacional were worth $6,694,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Companhia Siderúrgica Nacional by 20.5% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 26,133 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 4,437 shares in the last quarter. Pinnacle Wealth Planning Services Inc. bought a new stake in Companhia Siderúrgica Nacional during the 3rd quarter worth approximately $43,000. Cerity Partners LLC raised its holdings in Companhia Siderúrgica Nacional by 47.8% during the 4th quarter. Cerity Partners LLC now owns 39,995 shares of the basic materials company’s stock worth $157,000 after buying an additional 12,933 shares during the period. Quantbot Technologies LP acquired a new stake in Companhia Siderúrgica Nacional during the 3rd quarter worth approximately $145,000. Finally, First Affirmative Financial Network acquired a new position in shares of Companhia Siderúrgica Nacional in the fourth quarter valued at approximately $54,000.

Analyst Ratings Changes

A number of brokerages recently commented on SID. Itau BBA Securities restated an “underperform” rating and set a $3.00 price objective on shares of Companhia Siderúrgica Nacional in a report on Thursday, April 4th. Bank of America downgraded Companhia Siderúrgica Nacional from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $3.90 to $2.90 in a research note on Tuesday, April 9th. Finally, StockNews.com lowered Companhia Siderúrgica Nacional from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 3rd.

Companhia Siderúrgica Nacional Stock Up 2.4 %

NYSE SID opened at $2.83 on Friday. The firm’s 50 day moving average is $3.04 and its 200-day moving average is $3.20. The company has a current ratio of 1.32, a quick ratio of 0.94 and a debt-to-equity ratio of 1.89. Companhia Siderúrgica Nacional has a 12-month low of $2.11 and a 12-month high of $4.03.

Companhia Siderúrgica Nacional (NYSE:SID) last issued its quarterly earnings results on Thursday, March 7th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). Companhia Siderúrgica Nacional had a net margin of 0.76% and a return on equity of 1.69%. The business had revenue of $2.42 billion during the quarter. Equities research analysts predict that Companhia Siderúrgica Nacional will post 0.12 EPS for the current fiscal year.

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.