ArcelorMittal S.A. (NYSE:MT) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of ArcelorMittal S.A. (NYSE:MT) have been given an average rating of “Moderate Buy” by the six brokerages that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $31.17.

Separately, Morgan Stanley downgraded shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 14th.

Institutional Investors Weigh In On ArcelorMittal

Hedge funds have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. raised its holdings in ArcelorMittal by 89.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 536 shares during the last quarter. GAMMA Investing LLC raised its holdings in ArcelorMittal by 68.5% during the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 595 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in ArcelorMittal by 76.2% during the 4th quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 2,110 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in ArcelorMittal by 76.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company’s stock worth $137,000 after purchasing an additional 2,586 shares during the last quarter. Finally, Callan Family Office LLC bought a new position in ArcelorMittal during the 4th quarter worth approximately $207,000. 9.29% of the stock is currently owned by institutional investors and hedge funds.

ArcelorMittal Trading Up 1.4 %

MT opened at $32.50 on Wednesday. The company’s 50 day moving average is $27.22 and its 200-day moving average is $25.30. ArcelorMittal has a 1-year low of $20.52 and a 1-year high of $34.90. The company has a current ratio of 1.35, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. The company has a market cap of $26.63 billion, a P/E ratio of 19.70, a PEG ratio of 0.14 and a beta of 1.79.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share 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%. Equities research analysts predict that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Announces Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, December 3rd. Investors of record on Thursday, November 13th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a yield of 1.5%. ArcelorMittal’s dividend payout ratio is presently 25.45%.

ArcelorMittal Company Profile

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.