Stock Traders Buy High Volume of Put Options on Companhia Siderúrgica Nacional (NYSE:SID)

Companhia Siderúrgica Nacional (NYSE:SID) was the target of unusually large options trading on Tuesday. Stock traders purchased 4,972 put options on the stock. This represents an increase of approximately 883% compared to the typical daily volume of 506 put options.

Companhia Siderúrgica Nacional Trading Up 7.9 %

Companhia Siderúrgica Nacional stock opened at $2.39 on Wednesday. Companhia Siderúrgica Nacional has a 12 month low of $2.11 and a 12 month high of $4.03. The stock’s 50 day moving average is $2.62 and its 200-day moving average is $3.18. The company has a quick ratio of 0.91, a current ratio of 1.29 and a debt-to-equity ratio of 1.89.

Companhia Siderúrgica Nacional (NYSE:SID) last posted its earnings results on Thursday, May 9th. The basic materials company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.10 by ($0.19). The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.10 billion. Companhia Siderúrgica Nacional had a net margin of 1.45% and a return on equity of 3.17%. As a group, sell-side analysts expect that Companhia Siderúrgica Nacional will post 0.18 EPS for the current fiscal year.

Companhia Siderúrgica Nacional Cuts Dividend

The business also recently declared a — dividend, which was paid on Wednesday, May 22nd. Investors of record on Friday, January 1st were paid a $0.1395 dividend. This represents a dividend yield of 16.6%. The ex-dividend date was Wednesday, May 22nd. Companhia Siderúrgica Nacional’s dividend payout ratio (DPR) is currently 300.03%.

Analyst Ratings Changes

A number of equities analysts have weighed in on SID shares. Bank of America downgraded Companhia Siderúrgica Nacional from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $3.90 to $2.90 in a research report on Tuesday, April 9th. StockNews.com downgraded Companhia Siderúrgica Nacional from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Itau BBA Securities reissued an “underperform” rating and set a $3.00 price target on shares of Companhia Siderúrgica Nacional in a research report on Thursday, April 4th.

Institutional Investors Weigh In On Companhia Siderúrgica Nacional

Several institutional investors have recently made changes to their positions in the stock. Vanguard Personalized Indexing Management LLC lifted its stake in Companhia Siderúrgica Nacional by 20.5% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 26,133 shares of the basic materials company’s stock worth $62,000 after purchasing an additional 4,437 shares during the last quarter. First Affirmative Financial Network bought a new stake in Companhia Siderúrgica Nacional during the fourth quarter worth $54,000. Cerity Partners LLC lifted its stake in Companhia Siderúrgica Nacional by 47.8% during the fourth quarter. Cerity Partners LLC now owns 39,995 shares of the basic materials company’s stock worth $157,000 after purchasing an additional 12,933 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Companhia Siderúrgica Nacional by 42.7% during the fourth quarter. Lindbrook Capital LLC now owns 9,876 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 2,956 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in Companhia Siderúrgica Nacional during the fourth quarter worth $54,000.

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.