Jim Cramer Recommends Selling These 5 Stocks in August

2. Companhia Siderúrgica Nacional (NYSE:SID)

Number of Hedge Fund Holders: 9

Companhia Siderúrgica Nacional (NYSE:SID) is an integrated steel producer. Cramer gave the stock a Sell recommendation during the Lighting Round of his show on August 9. In response to a viewer question about the company, Cramer noted that “people do not want to own steel companies at this point in the cycle”. He also added that if some people did want to own steel companies, they would rather buy shares of quality steel stocks like Nucor. 

On May 10, Companhia Siderúrgica Nacional (NYSE:SID) declared an interim dividend of $0.136 per share. The stock has slid close to 60% so far this year amid falling steel prices and demand across the world. 

At the end of the first quarter of 2022, 9 hedge funds in the database of Insider Monkey held stakes worth $42 million in Companhia Siderúrgica Nacional (NYSE:SID), compared to 7 in the preceding quarter worth $21 million.