Companhia Siderurgica Nacional (SID) Trading Up 5.4%
Companhia Siderurgica Nacional (NYSE:SID)’s share price was up 5.4% during mid-day trading on Wednesday . The company traded as high as $2.75 and last traded at $2.74, with a volume of 2,719,844 shares. The stock had previously closed at $2.60.
Separately, Zacks Investment Research upgraded shares of Companhia Siderurgica Nacional from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research report on Tuesday, April 19th.
The firm has a market capitalization of $3.72 billion and a P/E ratio of 391.43. The stock has a 50-day moving average price of $2.15 and a 200 day moving average price of $1.92.
A hedge fund recently raised its stake in Companhia Siderurgica Nacional stock. Morgan Stanley boosted its stake in Companhia Siderurgica Nacional (NYSE:SID) by 162.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,618,907 shares of the company’s stock after buying an additional 2,238,768 shares during the period. Morgan Stanley owned approximately 0.27% of Companhia Siderurgica Nacional worth $3,531,000 as of its most recent SEC filing.
Companhia Siderurgica Nacional (CSN) is a Brazil-based company primarily engaged in the steel industry. The Company divides its business into five segments: Steel sector, which is involved in the production, distribution and marketing of flat steel, galvanized steel and metal packaging; Mining sector, which is active in the production of iron ore; Cement sector, which is involved in the manufacture of cement, as well as in the exploration of limestone and dolomite; Logistics sector, which consists of around two railway companies and a hub port, and Energy sector, which includes investments in energy generation projects to guarantee the Company’s self-sufficiency.