ArcelorMittal (MT) Trading Up 5.5%

ArcelorMittal SA (NYSE:MT) shares were up 5.5% on Wednesday . The company traded as high as $34.08 and last traded at $34.08. Approximately 2,829,100 shares changed hands during trading, an increase of 16% from the average daily volume of 2,438,250 shares. The stock had previously closed at $32.31.

A number of research analysts have weighed in on MT shares. Deutsche Bank reissued a “buy” rating on shares of ArcelorMittal in a research report on Friday, November 17th. ValuEngine lowered shares of ArcelorMittal from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. UBS Group reissued a “buy” rating on shares of ArcelorMittal in a research report on Thursday, October 26th. Cowen lowered shares of ArcelorMittal from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $32.00 to $27.00 in a research report on Friday, September 22nd. Finally, Zacks Investment Research lowered shares of ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $34.05.

The firm has a market capitalization of $35,559.61, a PE ratio of 8.77, a P/E/G ratio of 0.96 and a beta of 2.21. The company has a current ratio of 1.21, a quick ratio of 0.44 and a debt-to-equity ratio of 0.24.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Friday, November 10th. The basic materials company reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.32. The business had revenue of $17.64 billion during the quarter, compared to analyst estimates of $17.08 billion. ArcelorMittal had a net margin of 6.04% and a return on equity of 11.57%. The firm’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. research analysts anticipate that ArcelorMittal SA will post 3.89 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in MT. Quadrant Capital Group LLC raised its position in shares of ArcelorMittal by 24.9% during the second quarter. Quadrant Capital Group LLC now owns 7,412 shares of the basic materials company’s stock valued at $157,000 after buying an additional 1,479 shares during the last quarter. Rathbone Brothers plc acquired a new position in shares of ArcelorMittal during the third quarter valued at about $202,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of ArcelorMittal during the third quarter valued at about $228,000. SG Americas Securities LLC acquired a new position in shares of ArcelorMittal during the third quarter valued at about $229,000. Finally, Advisor Group Inc. raised its position in shares of ArcelorMittal by 160.6% during the second quarter. Advisor Group Inc. now owns 10,147 shares of the basic materials company’s stock valued at $230,000 after buying an additional 6,253 shares during the last quarter. 4.11% of the stock is owned by institutional investors and hedge funds.

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About ArcelorMittal

ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

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