ArcelorMittal (NYSE:MT) Shares Gap Down – Should You Sell?

ArcelorMittal (NYSE:MT)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $56.64, but opened at $53.97. ArcelorMittal shares last traded at $52.22, with a volume of 346,587 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MT shares. Jefferies Financial Group raised ArcelorMittal from a “hold” rating to a “buy” rating and lifted their price objective for the company from $51.10 to $73.20 in a research note on Wednesday, February 11th. Santander raised shares of ArcelorMittal from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 5th. UBS Group lowered shares of ArcelorMittal from a “buy” rating to a “neutral” rating in a report on Monday, November 17th. Oddo Bhf upgraded shares of ArcelorMittal from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 14th. Finally, Citigroup reissued a “buy” rating on shares of ArcelorMittal in a research report on Friday, February 13th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $51.98.

ArcelorMittal Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 1.36 and a quick ratio of 0.53. The company has a market cap of $39.33 billion, a PE ratio of 12.38, a P/E/G ratio of 0.44 and a beta of 1.48. The company has a 50-day moving average price of $56.69 and a two-hundred day moving average price of $45.45.

ArcelorMittal (NYSE:MT) last announced its earnings results on Thursday, February 5th. The basic materials company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.56 by $0.30. The business had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.56 billion. ArcelorMittal had a return on equity of 5.27% and a net margin of 5.14%.The company’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. Sell-side analysts expect that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Friday, November 13th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, November 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.2%. ArcelorMittal’s dividend payout ratio (DPR) is currently 12.44%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. State of Wyoming purchased a new stake in ArcelorMittal during the 3rd quarter worth $36,000. True Wealth Design LLC boosted its position in ArcelorMittal by 41.4% in the 4th quarter. True Wealth Design LLC now owns 799 shares of the basic materials company’s stock valued at $36,000 after buying an additional 234 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in ArcelorMittal in the 4th quarter valued at about $44,000. Geneos Wealth Management Inc. grew its stake in shares of ArcelorMittal by 44.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 501 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of ArcelorMittal by 91.5% during the fourth quarter. Allworth Financial LP now owns 1,126 shares of the basic materials company’s stock worth $51,000 after acquiring an additional 538 shares during the last quarter. 9.29% of the stock is currently owned by hedge funds and other institutional investors.

About ArcelorMittal

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.