Dallas, Texas 01/10/2014 (FINANCIALSTRENDS) – Companhia Siderurgica Nacional (ADR) (NYSE:SID), the Brazil based steel and iron manufacturing firm which boasts a market cap of $8.4 billion, has raised capital for its operations from the U.S stock market via American Depository Receipts. It operations are centred around the five related and interdependent business of Steel Manufacturing, Mining sector, Cement sector, Logistics sector and Energy sector. During trading yesterday, the ADR shares tanked by a 2.85 percent taking the share price to $5.79 as of close of business. Prevailing price points are take the stock 7.95 percent closer to its prior 52 week low price point of $6.29 per share.
The Companhia Siderurgica Nacional (ADR) (NYSE:SID) has been a steady provider of dividend for its share holders. It has paid out dividend of $0.24 per share which translates into a 4.15 percent annual dividend yield. The U.S investors have seen their stock holding in the stock of this conglomerate gain by a super impressive 130 percent in the past six months of trading.
Companhia Siderurgica Nacional (ADR) (NYSE:SID)’s decline yesterday, is difficult to explain since the basic materials index went down by only 0.9 percent while the S&P 500 index ended the day in green zone. The improvement being seen in the broader Brazilian economy over the past quarter and the related fillip the construction and manufacturing industry has seen in the same time period, argue well for the long term investors of Companhia Siderurgica Nacional (ADR) (NYSE:SID). This is because it is only a matter of time before the Brazilian company gets back to being a steady gainer at the U.S browsers. This would be due to the fact that significant monetary and fiscal policy changes are being brought in by the Brazilain government and the central bank to reignite the growth of its sluggish economy
