ArcelorMittal (MT) Reaches New 12-Month High at $31.66
Shares of ArcelorMittal SA (NYSE:MT) hit a new 52-week high during trading on Monday . The company traded as high as $31.66 and last traded at $31.31, with a volume of 3402000 shares. The stock had previously closed at $31.04.
A number of analysts have recently commented on MT shares. UBS upgraded ArcelorMittal from a “neutral” rating to a “buy” rating in a research note on Friday, October 20th. Jefferies Group reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Monday, September 18th. Cowen set a $32.00 price target on ArcelorMittal and gave the stock a “buy” rating in a report on Wednesday, August 23rd. Deutsche Bank reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Thursday, August 17th. Finally, ValuEngine cut ArcelorMittal from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have assigned a buy rating to the company’s stock. ArcelorMittal presently has a consensus rating of “Buy” and an average target price of $33.55.
The stock has a market capitalization of $31,820.00, a price-to-earnings ratio of 7.87, a price-to-earnings-growth ratio of 0.72 and a beta of 2.20. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.21 and a quick ratio of 0.44.
Several institutional investors have recently made changes to their positions in MT. Wrapmanager Inc. acquired a new position in shares of ArcelorMittal during the second quarter valued at approximately $360,000. BNP Paribas Arbitrage SA raised its holdings in shares of ArcelorMittal by 5.2% during the second quarter. BNP Paribas Arbitrage SA now owns 50,533 shares of the basic materials company’s stock valued at $1,149,000 after acquiring an additional 2,491 shares during the last quarter. BB&T Securities LLC acquired a new position in shares of ArcelorMittal during the second quarter valued at approximately $631,000. Genesee Valley Trust Co. acquired a new position in shares of ArcelorMittal during the second quarter valued at approximately $241,000. Finally, Intrust Bank NA acquired a new position in shares of ArcelorMittal during the second quarter valued at approximately $590,000. 4.09% of the stock is owned by institutional investors and hedge funds.
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ArcelorMittal Company Profile
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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