ArcelorMittal (MT) Sets New 52-Week High at $35.09
ArcelorMittal SA (NYSE:MT) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $35.09 and last traded at $34.53, with a volume of 2534600 shares trading hands. The stock had previously closed at $34.56.
A number of research analysts recently issued reports on MT shares. Jefferies Group reiterated a “buy” rating on shares of ArcelorMittal in a report on Monday, September 18th. Cowen lowered ArcelorMittal from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $32.00 to $27.00 in a report on Friday, September 22nd. ValuEngine lowered ArcelorMittal from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 26th. Zacks Investment Research raised ArcelorMittal from a “hold” rating to a “strong-buy” rating and set a $29.00 price target for the company in a report on Tuesday, September 26th. Finally, UBS Group raised ArcelorMittal from a “neutral” rating to a “buy” rating in a report on Friday, October 20th. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $35.39.
The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.44 and a current ratio of 1.21. The company has a market cap of $36,180.00, a price-to-earnings ratio of 9.24, a price-to-earnings-growth ratio of 0.95 and a beta of 2.21.
A number of hedge funds have recently modified their holdings of the stock. Cambiar Investors LLC increased its position in ArcelorMittal by 4.7% in the 3rd quarter. Cambiar Investors LLC now owns 5,283,658 shares of the basic materials company’s stock valued at $136,107,000 after acquiring an additional 237,033 shares during the period. Dimensional Fund Advisors LP increased its position in ArcelorMittal by 32.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,341,298 shares of the basic materials company’s stock valued at $60,312,000 after acquiring an additional 567,841 shares during the period. TIAA CREF Investment Management LLC acquired a new position in ArcelorMittal in the 2nd quarter valued at about $13,408,000. Alpine Woods Capital Investors LLC increased its position in ArcelorMittal by 71.3% in the 3rd quarter. Alpine Woods Capital Investors LLC now owns 531,000 shares of the basic materials company’s stock valued at $13,679,000 after acquiring an additional 221,001 shares during the period. Finally, State Street Corp acquired a new position in ArcelorMittal in the 2nd quarter valued at about $8,658,000. Hedge funds and other institutional investors own 4.11% of the company’s stock.
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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