ArcelorMittal (NYSE:MT) Shares Gap Down to $26.95

ArcelorMittal S.A. (NYSE:MT) shares gapped down before the market opened on Tuesday . The stock had previously closed at $26.95, but opened at $25.35. ArcelorMittal shares last traded at $25.21, with a volume of 976,179 shares changing hands.

Analysts Set New Price Targets

MT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $31.00 price target (down previously from $34.00) on shares of ArcelorMittal in a research note on Tuesday. StockNews.com lowered ArcelorMittal from a “buy” rating to a “hold” rating in a research note on Monday, March 4th.

ArcelorMittal Stock Down 6.5 %

The firm has a 50 day simple moving average of $26.94 and a two-hundred day simple moving average of $25.89. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.53 and a quick ratio of 0.67. The stock has a market cap of $20.30 billion, a price-to-earnings ratio of 25.11, a price-to-earnings-growth ratio of 0.34 and a beta of 1.93.

ArcelorMittal (NYSE:MT) last released its earnings results on Thursday, February 8th. The basic materials company reported ($3.57) earnings per share for the quarter, missing the consensus estimate of ($2.08) by ($1.49). ArcelorMittal had a net margin of 1.35% and a return on equity of 8.55%. The company had revenue of $14.55 billion during the quarter, compared to analyst estimates of $16.39 billion. During the same period in the previous year, the company posted $1.37 EPS. The company’s quarterly revenue was down 13.8% compared to the same quarter last year. As a group, sell-side analysts expect that ArcelorMittal S.A. will post 4.37 EPS for the current year.

Institutional Investors Weigh In On ArcelorMittal

Hedge funds have recently modified their holdings of the business. Principal Securities Inc. acquired a new stake in shares of ArcelorMittal during the fourth quarter worth about $25,000. Tower Research Capital LLC TRC bought a new position in shares of ArcelorMittal during the third quarter worth about $28,000. GAMMA Investing LLC bought a new position in shares of ArcelorMittal during the fourth quarter worth about $30,000. EverSource Wealth Advisors LLC grew its holdings in shares of ArcelorMittal by 84.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,128 shares of the basic materials company’s stock worth $32,000 after buying an additional 517 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of ArcelorMittal by 336.3% during the fourth quarter. Blue Trust Inc. now owns 1,309 shares of the basic materials company’s stock worth $37,000 after buying an additional 1,009 shares in the last quarter. Institutional investors and hedge funds own 9.88% of the company’s stock.

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.