ArcelorMittal SA (MT) Short Interest Up 9.5% in September
ArcelorMittal SA (NYSE:MT) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 44,704,705 shares, an increase of 9.5% from the September 15th total of 40,827,768 shares. Based on an average trading volume of 18,409,666 shares, the days-to-cover ratio is currently 2.4 days.
A number of large investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its stake in ArcelorMittal SA by 0.3% in the second quarter. PNC Financial Services Group Inc. now owns 110,418 shares of the company’s stock valued at $515,000 after buying an additional 288 shares during the period. Highland Capital Management LLC boosted its stake in ArcelorMittal SA by 0.7% in the third quarter. Highland Capital Management LLC now owns 45,035 shares of the company’s stock valued at $272,000 after buying an additional 300 shares during the period. Cypress Wealth Advisors LLC boosted its stake in ArcelorMittal SA by 4.8% in the first quarter. Cypress Wealth Advisors LLC now owns 23,763 shares of the company’s stock valued at $109,000 after buying an additional 1,089 shares during the period. Baird Financial Group Inc. boosted its stake in ArcelorMittal SA by 7.9% in the second quarter. Baird Financial Group Inc. now owns 19,609 shares of the company’s stock valued at $112,000 after buying an additional 1,440 shares during the period. Finally, Wetherby Asset Management Inc. boosted its stake in ArcelorMittal SA by 5.6% in the second quarter. Wetherby Asset Management Inc. now owns 35,960 shares of the company’s stock valued at $168,000 after buying an additional 1,907 shares during the period. 3.88% of the stock is owned by institutional investors.
Shares of ArcelorMittal SA (NYSE:MT) opened at 6.21 on Monday. The company’s market cap is $18.99 billion. ArcelorMittal SA has a 12 month low of $2.93 and a 12 month high of $6.59. The company’s 50 day moving average is $6.00 and its 200 day moving average is $5.52.
ArcelorMittal SA (NYSE:MT) last released its quarterly earnings data on Friday, July 29th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.35. The company earned $14.74 billion during the quarter, compared to analysts’ expectations of $15.23 billion. ArcelorMittal SA had a negative net margin of 11.61% and a positive return on equity of 0.62%. The firm’s quarterly revenue was down 12.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.10 EPS. On average, equities research analysts predict that ArcelorMittal SA will post ($0.05) EPS for the current fiscal year.
Several analysts have issued reports on the stock. Citigroup Inc. restated a “buy” rating on shares of ArcelorMittal SA in a research report on Thursday, July 28th. Vetr upgraded shares of ArcelorMittal SA from a “buy” rating to a “strong-buy” rating and set a $5.70 price target for the company in a research report on Wednesday, June 22nd. Cowen and Company increased their target price on shares of ArcelorMittal SA from $6.00 to $8.00 and gave the stock a “market perform” rating in a report on Wednesday, August 3rd. Clarkson Capital upgraded shares of ArcelorMittal SA from a “neutral” rating to a “buy” rating in a report on Tuesday, August 9th. Finally, Goldman Sachs Group Inc. lowered shares of ArcelorMittal SA from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, June 28th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $5.40.
ArcelorMittal SA Company Profile
ArcelorMittal SA (ArcelorMittal) is a holding company. The Company is an integrated steel and mining company. ArcelorMittal operates through five segments: NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining. The NAFTA segment produces flat, long and tubular products.
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