National Steel Company (SID) Stock Price Up 6.6%
National Steel Company (NYSE:SID) shares rose 6.6% during trading on Friday . The company traded as high as $2.96 and last traded at $2.89, with a volume of 5,029,371 shares trading hands. The stock had previously closed at $2.71.
Separately, BidaskClub raised National Steel from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th.
The company’s 50-day moving average price is $2.53 and its 200-day moving average price is $2.62. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 9.29 and a beta of 2.27.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Morgan Stanley increased its position in shares of National Steel by 343.8% in the first quarter. Morgan Stanley now owns 3,237,262 shares of the basic materials company’s stock valued at $9,453,000 after buying an additional 2,507,863 shares in the last quarter. Arlington Capital Management Inc. increased its position in shares of National Steel by 4.5% in the first quarter. Arlington Capital Management Inc. now owns 5,047,968 shares of the basic materials company’s stock valued at $14,740,000 after buying an additional 217,061 shares in the last quarter. ING Groep NV bought a new position in shares of National Steel during the first quarter valued at approximately $433,000. Credit Suisse AG increased its position in shares of National Steel by 11.2% in the first quarter. Credit Suisse AG now owns 735,909 shares of the basic materials company’s stock valued at $2,150,000 after buying an additional 74,312 shares in the last quarter. Finally, Karp Capital Management Corp bought a new position in shares of National Steel during the first quarter valued at approximately $174,000. Institutional investors and hedge funds own 3.23% of the company’s stock.
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About National Steel
Companhia Siderurgica Nacional is a Brazil-based company engaged in the steel industry. The Company operates throughout the entire steel production chain, from the mining of iron ore to the production and sale of a range of steel products, including coated galvanized flat steel and tinplate. The Company operates in five segments: Steel, Mining, Cement, Logistics and Energy.