ArcelorMittal Declares Quarterly Dividend of $0.15 (NYSE:MT)

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

ArcelorMittal has a payout ratio of 10.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of MT stock opened at $62.03 on Monday. ArcelorMittal has a 52-week low of $29.62 and a 52-week high of $67.60. 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 firm has a market capitalization of $48.07 billion, a P/E ratio of 16.28, a P/E/G ratio of 0.50 and a beta of 1.48. The stock has a 50 day moving average price of $57.03 and a 200 day moving average price of $50.88.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.75 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $17.04 billion. During the same period last year, the company earned $1.05 EPS. ArcelorMittal’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts predict that ArcelorMittal will post 4.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MT. Maple Rock Capital Partners Inc. purchased a new position in shares of ArcelorMittal in the 3rd quarter valued at $41,399,000. UBS Group AG increased its holdings in shares of ArcelorMittal by 405.2% in the 3rd quarter. UBS Group AG now owns 1,181,358 shares of the basic materials company’s stock valued at $42,706,000 after acquiring an additional 947,532 shares during the period. Retirement Systems of Alabama purchased a new position in shares of ArcelorMittal in the 4th quarter valued at $30,721,000. Senator Investment Group LP purchased a new position in shares of ArcelorMittal in the 4th quarter valued at $26,431,000. Finally, Auto Owners Insurance Co increased its holdings in shares of ArcelorMittal by 4,457.0% in the 4th quarter. Auto Owners Insurance Co now owns 367,568 shares of the basic materials company’s stock valued at $1,675,000 after acquiring an additional 359,502 shares during the period. 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.