ArcelorMittal (NYSE:MT) Declares $0.15 Quarterly Dividend

ArcelorMittal (NYSE:MT) announced a quarterly dividend on Tuesday, February 10th. Shareholders of record on Friday, February 20th will be given a dividend of 0.15 per share by the basic materials company on Wednesday, March 18th. This represents a c) annualized dividend and a yield of 0.9%. The ex-dividend date is Friday, February 20th.

ArcelorMittal has a dividend payout ratio of 9.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ArcelorMittal to earn $5.14 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 8.9%.

ArcelorMittal Stock Performance

NYSE:MT traded up $3.60 on Wednesday, reaching $66.69. 1,766,637 shares of the company’s stock were exchanged, compared to its average volume of 1,807,809. The firm has a market cap of $51.69 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 0.54 and a beta of 1.52. 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 stock has a fifty day simple moving average of $49.14 and a 200-day simple moving average of $41.02. ArcelorMittal has a 52 week low of $23.19 and a 52 week high of $66.97.

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

Institutional Investors Weigh In On ArcelorMittal

A number of large investors have recently added to or reduced their stakes in MT. Dimensional Fund Advisors LP boosted its holdings in shares of ArcelorMittal by 1.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,171,378 shares of the basic materials company’s stock worth $114,647,000 after purchasing an additional 55,549 shares in the last quarter. UBS Group AG lifted its position in ArcelorMittal by 405.2% in the 3rd quarter. UBS Group AG now owns 1,181,358 shares of the basic materials company’s stock worth $42,706,000 after buying an additional 947,532 shares during the last quarter. Maple Rock Capital Partners Inc. purchased a new stake in ArcelorMittal in the third quarter worth approximately $41,399,000. Bank of America Corp DE grew its position in ArcelorMittal by 15.6% during the third quarter. Bank of America Corp DE now owns 947,909 shares of the basic materials company’s stock valued at $34,267,000 after acquiring an additional 128,045 shares during the last quarter. Finally, Retirement Systems of Alabama purchased a new position in shares of ArcelorMittal during the fourth quarter worth approximately $30,721,000. Hedge funds and other institutional investors own 9.29% of the company’s stock.

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.