ArcelorMittal S.A. (NYSE:MT) to Issue Dividend of $0.23

ArcelorMittal S.A. (NYSE:MT) announced a dividend on Friday, May 16th, investing.com reports. Investors of record on Monday, May 19th will be paid a dividend of 0.2338 per share by the basic materials company on Wednesday, June 11th. This represents a yield of 1.44%. The ex-dividend date is Friday, May 16th.

ArcelorMittal has a payout ratio of 11.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect ArcelorMittal to earn $5.14 per share next year, which means the company should continue to be able to cover its $0.55 annual dividend with an expected future payout ratio of 10.7%.

ArcelorMittal Price Performance

MT stock opened at $31.09 on Friday. The firm has a 50 day simple moving average of $29.18 and a two-hundred day simple moving average of $26.73. The stock has a market cap of $25.47 billion, a PE ratio of 18.84, a P/E/G ratio of 0.14 and a beta of 1.62. ArcelorMittal has a one year low of $20.52 and a one year high of $34.90. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59.

ArcelorMittal (NYSE:MT) last announced its earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.33. ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. The company had revenue of $14.80 billion during the quarter, compared to analyst estimates of $15.11 billion. During the same period in the previous year, the business earned $1.16 earnings per share. The firm’s quarterly revenue was down 9.1% compared to the same quarter last year. On average, analysts predict that ArcelorMittal will post 3.72 EPS for the current fiscal year.

Institutional Investors Weigh In On ArcelorMittal

An institutional investor recently raised its position in ArcelorMittal stock. AQR Capital Management LLC boosted its stake in ArcelorMittal S.A. (NYSE:MT) by 75.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,038 shares of the basic materials company’s stock after purchasing an additional 14,593 shares during the period. AQR Capital Management LLC’s holdings in ArcelorMittal were worth $982,000 at the end of the most recent reporting period. 9.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Morgan Stanley lowered ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of ArcelorMittal in a research note on Monday, April 14th. The Goldman Sachs Group raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $29.00 to $31.70 in a research note on Thursday, April 10th. Finally, Jefferies Financial Group cut shares of ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 price objective for the company. in a research note on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, ArcelorMittal has a consensus rating of “Moderate Buy” and an average price target of $32.95.

ArcelorMittal Company Profile

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.