ArcelorMittal (NYSE:MT) Short Interest Update

ArcelorMittal (NYSE:MT) saw a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 2,369,795 shares, a decrease of 27.8% from the January 15th total of 3,281,039 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 1,863,206 shares, the short-interest ratio is currently 1.3 days. Based on an average daily trading volume, of 1,863,206 shares, the short-interest ratio is currently 1.3 days. Currently, 0.3% of the company’s shares are sold short.

ArcelorMittal Trading Down 0.1%

NYSE:MT opened at $61.53 on Friday. ArcelorMittal has a 12 month low of $23.19 and a 12 month high of $66.97. The company has a current ratio of 1.36, a quick ratio of 0.53 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $47.68 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.54 and a beta of 1.52. The firm has a fifty day simple moving average of $50.38 and a two-hundred day simple moving average of $41.53.

ArcelorMittal (NYSE:MT) last released its quarterly earnings data on Thursday, February 5th. The basic materials company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.30. The company had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.56 billion. ArcelorMittal had a net margin of 5.14% and a return on equity of 5.27%. The business’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS. Analysts expect that ArcelorMittal will post 3.72 EPS for the current fiscal year.

ArcelorMittal Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Friday, February 20th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, February 20th. ArcelorMittal’s dividend payout ratio (DPR) is currently 12.44%.

Institutional Investors Weigh In On ArcelorMittal

Institutional investors have recently bought and sold shares of the stock. State of Wyoming bought a new position in ArcelorMittal during the third quarter valued at about $36,000. True Wealth Design LLC grew its position in shares of ArcelorMittal by 41.4% during the 4th quarter. True Wealth Design LLC now owns 799 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 234 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of ArcelorMittal during the 4th quarter worth approximately $44,000. Geneos Wealth Management Inc. raised its stake in shares of ArcelorMittal by 44.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock valued at $47,000 after buying an additional 501 shares during the period. Finally, Allworth Financial LP lifted its position in shares of ArcelorMittal by 91.5% during the 4th quarter. Allworth Financial LP now owns 1,126 shares of the basic materials company’s stock valued at $51,000 after buying an additional 538 shares during the last quarter. Institutional investors own 9.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MT shares. Oddo Bhf raised shares of ArcelorMittal from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of ArcelorMittal in a research report on Friday, February 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of ArcelorMittal in a report on Wednesday, January 21st. Jefferies Financial Group raised ArcelorMittal from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $51.10 to $73.20 in a research report on Wednesday. Finally, Citigroup restated a “buy” rating on shares of ArcelorMittal in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, ArcelorMittal has a consensus rating of “Moderate Buy” and a consensus target price of $51.98.

ArcelorMittal Company Profile

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.