ArcelorMittal (MT) to Issue Quarterly Dividend of $0.15 on June 10th

ArcelorMittal (NYSE:MT) declared a quarterly dividend on Friday, February 13th. Shareholders of record on Wednesday, May 13th will be given a dividend of 0.15 per share by the basic materials company on Wednesday, June 10th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Wednesday, May 13th.

ArcelorMittal has a dividend payout ratio of 10.3% meaning its dividend is sufficiently covered by earnings. Analysts expect ArcelorMittal to earn $7.09 per share next year, which means the company should continue to be able to cover its $0.51 annual dividend with an expected future payout ratio of 7.2%.

ArcelorMittal Stock Down 0.0%

MT stock opened at $62.03 on Monday. ArcelorMittal has a fifty-two week low of $29.62 and a fifty-two week high of $67.60. The business’s 50 day moving average price is $57.03 and its two-hundred day moving average price is $50.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.54 and a current ratio of 1.39. The company has a market capitalization of $48.07 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 0.50 and a beta of 1.48.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, April 30th. The basic materials company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. ArcelorMittal had a return on equity of 4.77% and a net margin of 4.71%.The firm had revenue of $15.46 billion for the quarter, compared to the consensus estimate of $17.04 billion. During the same quarter in the prior year, the business earned $1.05 EPS. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, analysts forecast that ArcelorMittal will post 4.67 earnings per share for the current fiscal year.

Institutional Trading of ArcelorMittal

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State of Wyoming bought a new position in ArcelorMittal in the 3rd quarter worth $36,000. True Wealth Design LLC raised its holdings in ArcelorMittal by 41.4% in the 4th quarter. True Wealth Design LLC now owns 799 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 234 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in ArcelorMittal in the 4th quarter worth $44,000. Geneos Wealth Management Inc. raised its holdings in ArcelorMittal by 44.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 501 shares during the period. Finally, Allworth Financial LP raised its holdings in ArcelorMittal by 91.5% in the 4th quarter. Allworth Financial LP now owns 1,126 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 538 shares during the period. 9.29% of the stock is 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.