National Steel Company (NYSE:SID) shares gapped up prior to trading on Monday . The stock had previously closed at $2.61, but opened at $2.71. National Steel shares last traded at $2.89, with a volume of 5,029,371 shares.

Separately, BidaskClub raised National Steel from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th.

The firm has a 50-day moving average of $2.55 and a 200 day moving average of $2.58. The stock has a market cap of $4.14 billion, a P/E ratio of 9.81 and a beta of 2.28.

A number of large investors have recently made changes to their positions in the business. Arlington Capital Management Inc. lifted its holdings in shares of National Steel by 4.5% during the 1st quarter. Arlington Capital Management Inc. now owns 5,047,968 shares of the basic materials company’s stock worth $14,740,000 after acquiring an additional 217,061 shares during the last quarter. Morgan Stanley lifted its stake in National Steel by 343.8% in the first quarter. Morgan Stanley now owns 3,237,262 shares of the basic materials company’s stock worth $9,453,000 after purchasing an additional 2,507,863 shares during the last quarter. Credit Suisse AG lifted its stake in National Steel by 11.2% in the first quarter. Credit Suisse AG now owns 735,909 shares of the basic materials company’s stock worth $2,150,000 after purchasing an additional 74,312 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in National Steel by 34.1% in the first quarter. BNP Paribas Arbitrage SA now owns 223,036 shares of the basic materials company’s stock worth $651,000 after purchasing an additional 56,664 shares during the last quarter. Finally, ING Groep NV bought a new stake in National Steel in the first quarter worth $433,000. 3.23% of the stock is owned by hedge funds and other institutional investors.

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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.