Shares of ArcelorMittal SA (NYSE:MT) dropped 6.5% during mid-day trading on Monday . The stock traded as low as $17.13 and last traded at $17.26. Approximately 3,860,150 shares changed hands during trading, an increase of 34% from the average daily volume of 2,873,843 shares. The stock had previously closed at $18.46.
MT has been the topic of several recent analyst reports. Goldman Sachs Group downgraded ArcelorMittal from a “buy” rating to a “neutral” rating in a report on Wednesday, January 30th. ValuEngine upgraded ArcelorMittal from a “strong sell” rating to a “sell” rating in a report on Friday, March 1st. Zacks Investment Research upgraded ArcelorMittal from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 12th. Finally, KeyCorp initiated coverage on ArcelorMittal in a report on Monday, April 15th. They issued a “sector weight” rating and a $22.57 target price on the stock. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $30.52.
The firm has a market cap of $17.60 billion, a price-to-earnings ratio of 2.98, a PEG ratio of 3.53 and a beta of 2.06. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.40 and a quick ratio of 0.52.
ArcelorMittal (NYSE:MT) last issued its earnings results on Thursday, May 9th. The basic materials company reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.35). The business had revenue of $19.19 billion during the quarter, compared to analyst estimates of $18.83 billion. ArcelorMittal had a net margin of 5.75% and a return on equity of 11.63%. On average, equities research analysts expect that ArcelorMittal SA will post 2.65 earnings per share for the current year.
The firm also recently announced an annual dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be issued a $0.20 dividend. The ex-dividend date is Thursday, May 16th. This represents a dividend yield of 0.92%. ArcelorMittal’s dividend payout ratio is 1.56%.
Several hedge funds and other institutional investors have recently made changes to their positions in MT. Cambiar Investors LLC grew its stake in shares of ArcelorMittal by 14.1% in the 1st quarter. Cambiar Investors LLC now owns 4,754,510 shares of the basic materials company’s stock valued at $96,897,000 after buying an additional 586,262 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of ArcelorMittal by 77.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 891,090 shares of the basic materials company’s stock valued at $27,498,000 after buying an additional 388,896 shares in the last quarter. Marshall Wace North America L.P. bought a new stake in shares of ArcelorMittal in the 1st quarter valued at approximately $5,021,000. Wellington Management Group LLP grew its stake in shares of ArcelorMittal by 251.5% in the 1st quarter. Wellington Management Group LLP now owns 296,798 shares of the basic materials company’s stock valued at $6,049,000 after buying an additional 212,356 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of ArcelorMittal by 2,543.6% in the 1st quarter. Bank of Montreal Can now owns 201,417 shares of the basic materials company’s stock valued at $4,104,000 after buying an additional 193,798 shares in the last quarter. 3.03% of the stock is owned by institutional investors and hedge funds.
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ArcelorMittal Company Profile (NYSE:MT)
ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through five segments: NAFTA, Brazil, Europe, ACIS, and Mining. The company produces finished and semi-finished steel products with various specifications.
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