ArcelorMittal (NYSE:MT) Coverage Initiated at KeyCorp

Equities research analysts at KeyCorp started coverage on shares of ArcelorMittal (NYSE:MT) in a report issued on Wednesday. The firm set a “sector weight” rating on the basic materials company’s stock.

Several other analysts also recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of ArcelorMittal in a report on Wednesday, January 21st. Citigroup reaffirmed a “buy” rating on shares of ArcelorMittal in a research report on Friday, February 13th. Wells Fargo & Company increased their target price on ArcelorMittal from $47.00 to $54.00 and gave the company an “equal weight” rating in a research note on Friday, February 6th. Oddo Bhf upgraded ArcelorMittal from a “neutral” rating to an “outperform” rating in a report on Wednesday, January 14th. Finally, Santander raised ArcelorMittal from a “neutral” rating to an “outperform” rating in a research report on Thursday, February 5th. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, ArcelorMittal has a consensus rating of “Hold” and a consensus price target of $51.98.

ArcelorMittal Trading Up 1.3%

Shares of MT stock opened at $52.31 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 1.36 and a debt-to-equity ratio of 0.19. ArcelorMittal has a fifty-two week low of $23.19 and a fifty-two week high of $67.60. The firm’s 50 day moving average price is $57.18 and its two-hundred day moving average price is $46.50. The stock has a market cap of $40.54 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 0.45 and a beta of 1.48.

ArcelorMittal (NYSE:MT) last released its quarterly earnings data on Thursday, February 5th. The basic materials company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.30. ArcelorMittal had a net margin of 5.14% and a return on equity of 5.27%. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.56 billion. During the same quarter in the prior year, the business earned $0.52 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, analysts anticipate that ArcelorMittal will post 3.72 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Maple Rock Capital Partners Inc. acquired a new stake in ArcelorMittal during the 3rd quarter valued at approximately $41,399,000. UBS Group AG raised its position in shares of ArcelorMittal by 405.2% in the 3rd quarter. UBS Group AG now owns 1,181,358 shares of the basic materials company’s stock valued at $42,706,000 after purchasing an additional 947,532 shares in the last quarter. Retirement Systems of Alabama purchased a new position in shares of ArcelorMittal during the 4th quarter valued at approximately $30,721,000. Senator Investment Group LP purchased a new position in shares of ArcelorMittal during the 4th quarter valued at approximately $26,431,000. Finally, Auto Owners Insurance Co grew its position in shares of ArcelorMittal by 4,457.0% during the fourth quarter. Auto Owners Insurance Co now owns 367,568 shares of the basic materials company’s stock worth $1,675,000 after buying an additional 359,502 shares in the last quarter. Hedge funds and other institutional investors own 9.29% of the company’s stock.

About ArcelorMittal

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.