ArcelorMittal S.A. (NYSE:MT - Get Free Report) was the recipient of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 5,680,000 shares, a growth of 38.2% from the January 31st total of 4,110,000 shares. Currently, 0.7% of the company's stock are sold short. Based on an average trading volume of 1,790,000 shares, the days-to-cover ratio is presently 3.2 days.
Several research firms have recently weighed in on MT. Morgan Stanley downgraded shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 14th. Bank of America raised ArcelorMittal from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $30.00 to $32.90 in a report on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $31.17.
Get Our Latest Research Report on MT
Institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its holdings in shares of ArcelorMittal by 89.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company's stock valued at $26,000 after acquiring an additional 536 shares during the period. GAMMA Investing LLC lifted its position in ArcelorMittal by 68.5% in the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 595 shares during the last quarter. US Bancorp DE boosted its stake in ArcelorMittal by 5.0% during the 4th quarter. US Bancorp DE now owns 15,085 shares of the basic materials company's stock valued at $349,000 after purchasing an additional 717 shares during the period. Dorsey & Whitney Trust CO LLC grew its position in ArcelorMittal by 9.1% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,545 shares of the basic materials company's stock worth $221,000 after purchasing an additional 797 shares during the last quarter. Finally, United Capital Financial Advisors LLC increased its stake in shares of ArcelorMittal by 11.5% in the fourth quarter. United Capital Financial Advisors LLC now owns 10,940 shares of the basic materials company's stock valued at $253,000 after purchasing an additional 1,129 shares during the period. 9.29% of the stock is currently owned by institutional investors.
Shares of NYSE MT traded up $1.75 during midday trading on Monday, hitting $29.49. The company's stock had a trading volume of 4,527,977 shares, compared to its average volume of 1,679,748. 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 has a 1-year low of $20.52 and a 1-year high of $30.37. The firm's fifty day moving average price is $25.19 and its 200-day moving average price is $24.61. The firm has a market cap of $24.16 billion, a P/E ratio of 17.87, a P/E/G ratio of 0.14 and a beta of 1.74.
ArcelorMittal (NYSE:MT - Get Free Report) last issued its earnings results 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%. On average, sell-side analysts forecast that ArcelorMittal will post 3.72 EPS for the current fiscal year.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider ArcelorMittal, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ArcelorMittal wasn't on the list.
While ArcelorMittal currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.