ArcelorMittal (MT) Sets New 12-Month Low at $16.56

Shares of ArcelorMittal SA (NYSE:MT) reached a new 52-week low during trading on Wednesday . The company traded as low as $16.56 and last traded at $17.15, with a volume of 2599784 shares changing hands. The stock had previously closed at $17.26.

A number of research firms have recently commented on MT. ValuEngine upgraded ArcelorMittal from a “sell” rating to a “hold” rating in a research report on Thursday. KeyCorp began coverage on ArcelorMittal in a research note on Monday, April 15th. They issued a “sector weight” rating and a $22.57 price target on the stock. Zacks Investment Research lowered ArcelorMittal from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Finally, Goldman Sachs Group lowered ArcelorMittal from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $26.79.

The company has a debt-to-equity ratio of 0.24, a current ratio of 1.40 and a quick ratio of 0.52. The company has a market capitalization of $17.49 billion, a PE ratio of 2.83, a P/E/G ratio of 3.86 and a beta of 2.06.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Thursday, May 9th. The basic materials company reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.35). The firm had revenue of $19.19 billion during the quarter, compared to analyst estimates of $18.83 billion. ArcelorMittal had a return on equity of 11.63% and a net margin of 5.75%. As a group, research analysts predict that ArcelorMittal SA will post 2.42 EPS for the current fiscal year.

The company also recently declared an annual dividend, which will be paid on Thursday, June 13th. Stockholders of record on Friday, May 17th will be paid a $0.20 dividend. This represents a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, May 16th. ArcelorMittal’s dividend payout ratio is presently 1.56%.

Large investors have recently modified their holdings of the company. PointState Capital LP acquired a new position in ArcelorMittal during the first quarter worth $28,809,000. Cambiar Investors LLC boosted its stake in ArcelorMittal by 14.1% during the first quarter. Cambiar Investors LLC now owns 4,754,510 shares of the basic materials company’s stock worth $96,897,000 after buying an additional 586,262 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in ArcelorMittal by 77.4% during the third quarter. JPMorgan Chase & Co. now owns 891,090 shares of the basic materials company’s stock worth $27,498,000 after buying an additional 388,896 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in ArcelorMittal during the first quarter worth $5,021,000. Finally, Wellington Management Group LLP boosted its stake in ArcelorMittal by 251.5% during the first quarter. Wellington Management Group LLP now owns 296,798 shares of the basic materials company’s stock worth $6,049,000 after buying an additional 212,356 shares during the last quarter. 3.03% of the stock is currently owned by hedge funds and other institutional investors.

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About ArcelorMittal (NYSE:MT)

ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through five segments: NAFTA, Brazil, Europe, ACIS, and Mining. The company produces finished and semi-finished steel products with various specifications.

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