Brokerages Set ArcelorMittal (NYSE:MT) PT at $51.98

Shares of ArcelorMittal (NYSE:MT) have been given a consensus rating of “Hold” by the twelve research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $51.9750.

MT has been the topic of a number of research analyst reports. UBS Group downgraded ArcelorMittal from a “buy” rating to a “neutral” rating in a report on Monday, November 17th. JPMorgan Chase & Co. downgraded shares of ArcelorMittal from an “overweight” rating to an “underweight” rating in a report on Monday. Jefferies Financial Group upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and raised their price objective for the company from $51.10 to $73.20 in a report on Wednesday, February 11th. Oddo Bhf raised shares of ArcelorMittal from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Friday, February 6th.

ArcelorMittal Stock Up 1.6%

Shares of MT opened at $56.75 on Wednesday. The stock has a market capitalization of $43.98 billion, a PE ratio of 13.84, a P/E/G ratio of 0.46 and a beta of 1.47. The company has a current ratio of 1.36, a quick ratio of 0.53 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $56.24 and its 200-day moving average is $45.20. 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, topping analysts’ consensus estimates of $0.56 by $0.30. The company had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.56 billion. ArcelorMittal had a net margin of 5.14% and a return on equity of 5.27%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 EPS. Equities research analysts forecast that ArcelorMittal will post 3.72 EPS for the current year.

ArcelorMittal Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Friday, November 13th will be issued a dividend of $0.15 per share. The ex-dividend date is Friday, November 13th. This represents a $0.60 annualized dividend and a yield of 1.1%. ArcelorMittal’s dividend payout ratio (DPR) is presently 12.44%.

Institutional Trading of ArcelorMittal

A number of large investors have recently bought and sold shares of MT. True Wealth Design LLC raised its holdings in shares of ArcelorMittal by 41.4% during the fourth quarter. True Wealth Design LLC now owns 799 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 234 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of ArcelorMittal during the fourth quarter worth approximately $44,000. State of Wyoming bought a new position in shares of ArcelorMittal in the 3rd quarter worth $36,000. Allworth Financial LP lifted its holdings in shares of ArcelorMittal by 91.5% in the 4th quarter. Allworth Financial LP now owns 1,126 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 538 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in ArcelorMittal by 126.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,146 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 640 shares during the period. 9.29% of the stock is currently owned by institutional investors and hedge funds.

ArcelorMittal Company Profile

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.