ArcelorMittal (NYSE:MT) Shares Gap Down – What’s Next?

ArcelorMittal S.A. (NYSE:MT) shares gapped down prior to trading on Thursday . The stock had previously closed at $33.06, but opened at $31.70. ArcelorMittal shares last traded at $31.97, with a volume of 248,483 shares changing hands.

Analysts Set New Price Targets

Separately, Morgan Stanley cut ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $31.17.

ArcelorMittal Stock Down 1.3 %

The firm has a market capitalization of $25.88 billion, a price-to-earnings ratio of 19.15, a P/E/G ratio of 0.14 and a beta of 1.79. 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 firm has a fifty day moving average price of $27.84 and a 200 day moving average price of $25.45.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, February 6th. The basic materials company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.09). ArcelorMittal had a return on equity of 4.31% and a net margin of 2.14%. Sell-side analysts anticipate that ArcelorMittal S.A. will post 3.72 EPS for the current fiscal year.

ArcelorMittal Announces Dividend

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

Hedge Funds Weigh In On ArcelorMittal

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its stake in shares of 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 buying an additional 536 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of 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 buying an additional 595 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of 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 buying an additional 2,110 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of ArcelorMittal by 76.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company’s stock valued at $137,000 after purchasing an additional 2,586 shares during the period. Finally, Callan Family Office LLC bought a new stake in shares of ArcelorMittal in the 4th quarter valued at about $207,000. 9.29% of the stock is owned by institutional investors and hedge funds.

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.