ArcelorMittal (NYSE:MT) Receives Consensus Rating of “Hold” from Analysts

ArcelorMittal (NYSE:MT) has received an average rating of “Hold” from the thirteen brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $51.9750.

A number of analysts have commented on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of ArcelorMittal in a report on Tuesday, February 17th. Citigroup reissued a “buy” rating on shares of ArcelorMittal in a research note on Friday, February 13th. Jefferies Financial Group upgraded ArcelorMittal from a “hold” rating to a “buy” rating and raised their price target for the stock from $51.10 to $73.20 in a research report on Wednesday, February 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ArcelorMittal in a research note on Wednesday, January 21st. Finally, Santander upgraded ArcelorMittal from a “neutral” rating to an “outperform” rating in a report on Thursday, February 5th.

Hedge Funds Weigh In On ArcelorMittal

A number of hedge funds and other institutional investors have recently bought and sold shares of MT. Dimensional Fund Advisors LP lifted its holdings in ArcelorMittal by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,220,992 shares of the basic materials company’s stock valued at $146,780,000 after purchasing an additional 49,614 shares during the last quarter. Maple Rock Capital Partners Inc. increased its holdings in shares of ArcelorMittal by 42.4% in the fourth quarter. Maple Rock Capital Partners Inc. now owns 1,630,600 shares of the basic materials company’s stock valued at $74,306,000 after purchasing an additional 485,400 shares during the last quarter. UBS Group AG raised its position in shares of ArcelorMittal by 405.2% in the third quarter. UBS Group AG now owns 1,181,358 shares of the basic materials company’s stock valued at $42,706,000 after purchasing an additional 947,532 shares during the period. Bank of America Corp DE lifted its stake in shares of ArcelorMittal by 15.6% during the 3rd quarter. Bank of America Corp DE now owns 947,909 shares of the basic materials company’s stock worth $34,267,000 after buying an additional 128,045 shares during the last quarter. Finally, Retirement Systems of Alabama acquired a new stake in shares of ArcelorMittal during the 4th quarter worth about $30,721,000. Institutional investors own 9.29% of the company’s stock.

ArcelorMittal Stock Performance

ArcelorMittal stock opened at $52.87 on Friday. The stock has a 50-day simple moving average of $57.41 and a 200 day simple moving average of $47.38. The stock has a market capitalization of $40.97 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 0.46 and a beta of 1.49. The company has a quick ratio of 0.53, a current ratio of 1.36 and a debt-to-equity ratio of 0.19. ArcelorMittal has a 12-month low of $23.19 and a 12-month high of $67.60.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Thursday, February 5th. The basic materials company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.30. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.56 billion. ArcelorMittal had a net margin of 5.14% and a return on equity of 5.27%. ArcelorMittal’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 earnings per share. On average, research analysts anticipate that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Friday, November 13th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Friday, November 13th. ArcelorMittal’s payout ratio is presently 12.44%.

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.