Short Interest in ArcelorMittal (NYSE:MT) Increases By 25.3%

ArcelorMittal (NYSE:MT) saw a significant growth in short interest in July. As of July 31st, there was short interest totaling 3,470,000 shares, agrowthof25.3% from the July 15th total of 2,770,000 shares. Approximately0.5% of the company’s stock are short sold. Based on an average trading volume of 1,600,000 shares, the short-interest ratio is currently 2.2 days. Based on an average trading volume of 1,600,000 shares, the short-interest ratio is currently 2.2 days. Approximately0.5% of the company’s stock are short sold.

ArcelorMittal Stock Performance

Shares of MT stock opened at $33.9960 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.59 and a current ratio of 1.40. ArcelorMittal has a one year low of $21.59 and a one year high of $35.13. The company’s 50-day simple moving average is $32.59 and its 200-day simple moving average is $30.53. The stock has a market capitalization of $27.85 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 0.15 and a beta of 1.65.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $1.32 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.01). ArcelorMittal had a return on equity of 4.99% and a net margin of 4.11%.The company had revenue of $15.93 billion for the quarter, compared to the consensus estimate of $15.48 billion. During the same period in the previous year, the business posted $0.63 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities analysts anticipate that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on MT. Wells Fargo & Company upgraded ArcelorMittal to a “hold” rating in a research note on Thursday, August 14th. Wall Street Zen downgraded ArcelorMittal from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Finally, Barclays downgraded ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.96.

Hedge Funds Weigh In On ArcelorMittal

A number of large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its holdings in ArcelorMittal by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,029,028 shares of the basic materials company’s stock worth $70,061,000 after acquiring an additional 91,363 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in ArcelorMittal by 22.0% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,872,477 shares of the basic materials company’s stock worth $54,021,000 after acquiring an additional 337,158 shares during the last quarter. Northern Trust Corp lifted its holdings in ArcelorMittal by 31.7% in the fourth quarter. Northern Trust Corp now owns 1,153,924 shares of the basic materials company’s stock worth $26,690,000 after acquiring an additional 277,891 shares during the last quarter. OLD Mission Capital LLC lifted its holdings in ArcelorMittal by 20.1% in the first quarter. OLD Mission Capital LLC now owns 814,793 shares of the basic materials company’s stock worth $23,507,000 after acquiring an additional 136,443 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in ArcelorMittal by 56.7% in the fourth quarter. Bank of America Corp DE now owns 784,252 shares of the basic materials company’s stock worth $18,140,000 after acquiring an additional 283,758 shares during the last quarter. Institutional investors own 9.29% of the company’s stock.

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.