ArcelorMittal S.A. (NYSE:MT) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of ArcelorMittal S.A. (NYSE:MT) have received an average rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $31.17.

A number of equities research analysts have recently commented on the company. Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and increased their price objective for the company from $30.00 to $32.90 in a research report on Thursday, November 14th. Morgan Stanley downgraded shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 14th.

ArcelorMittal Price Performance

Shares of NYSE:MT opened at $27.72 on Friday. ArcelorMittal has a one year low of $20.52 and a one year high of $29.38. The stock has a fifty day moving average of $25.06 and a 200-day moving average of $24.52. The company has a market capitalization of $22.71 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 0.14 and a beta of 1.74. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Thursday, February 6th. The basic materials company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. As a group, equities analysts anticipate that ArcelorMittal will post 3.72 EPS for the current fiscal year.

Institutional Trading of ArcelorMittal

Several large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in ArcelorMittal by 221.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company’s stock worth $78,712,000 after purchasing an additional 2,344,020 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in ArcelorMittal by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,029,028 shares of the basic materials company’s stock worth $70,061,000 after buying an additional 91,363 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in ArcelorMittal by 146.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,535,319 shares of the basic materials company’s stock worth $35,512,000 after buying an additional 912,984 shares during the last quarter. FMR LLC raised its position in ArcelorMittal by 46.7% during the third quarter. FMR LLC now owns 1,317,833 shares of the basic materials company’s stock valued at $34,606,000 after acquiring an additional 419,465 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in ArcelorMittal by 31.7% in the fourth quarter. Northern Trust Corp now owns 1,153,924 shares of the basic materials company’s stock valued at $26,690,000 after acquiring an additional 277,891 shares during the last quarter. 9.29% of the stock is owned by institutional investors and hedge funds.

About ArcelorMittal

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.