StockNews.com Begins Coverage on ArcelorMittal (NYSE:MT)

StockNews.com assumed coverage on shares of ArcelorMittal (NYSE:MT – Get Rating) in a research report released on Thursday morning. The brokerage issued a buy rating on the basic materials company’s stock.

Several other equities research analysts also recently issued reports on the stock. UBS Group downgraded shares of ArcelorMittal from a neutral rating to a sell rating in a research note on Wednesday, January 18th. Bank of America cut shares of ArcelorMittal from a buy rating to a neutral rating in a research report on Wednesday, December 14th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of ArcelorMittal from $36.00 to $33.00 in a report on Thursday, February 23rd. Finally, JPMorgan Chase & Co. lowered their target price on shares of ArcelorMittal from €24.50 ($26.34) to €23.00 ($24.73) and set a neutral rating on the stock in a report on Wednesday, December 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, ArcelorMittal has a consensus rating of Hold and a consensus target price of $28.68.

ArcelorMittal Price Performance

Shares of NYSE:MT opened at $26.45 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.66 and a quick ratio of 0.76. The business has a 50-day moving average of $30.23 and a two-hundred day moving average of $26.21. The stock has a market capitalization of $24.81 billion, a P/E ratio of 2.67 and a beta of 1.91. ArcelorMittal has a fifty-two week low of $19.25 and a fifty-two week high of $34.59.

ArcelorMittal Dividend Announcement

The business also recently disclosed an annual dividend, which will be paid on Thursday, June 15th. Investors of record on Monday, May 22nd will be given a dividend of $0.38 per share. The ex-dividend date is Friday, May 19th. This represents a yield of 1.2%. ArcelorMittal’s dividend payout ratio (DPR) is 3.23%.

Institutional Trading of ArcelorMittal

Hedge funds and other institutional investors have recently modified their holdings of the company. CI Private Wealth LLC bought a new position in ArcelorMittal during the fourth quarter valued at $670,000. Thomas White International Ltd. grew its position in shares of ArcelorMittal by 8.5% in the 4th quarter. Thomas White International Ltd. now owns 93,449 shares of the basic materials company’s stock worth $2,450,000 after buying an additional 7,319 shares during the last quarter. Employees Retirement System of Texas boosted its stake in ArcelorMittal by 33.5% in the 4th quarter. Employees Retirement System of Texas now owns 60,665 shares of the basic materials company’s stock worth $1,591,000 after purchasing an additional 15,222 shares in the last quarter. Morgan Stanley boosted its stake in ArcelorMittal by 10.0% in the 4th quarter. Morgan Stanley now owns 1,416,647 shares of the basic materials company’s stock worth $37,145,000 after purchasing an additional 128,629 shares in the last quarter. Finally, Mariner LLC lifted its stake in ArcelorMittal by 13.9% during the 4th quarter. Mariner LLC now owns 12,095 shares of the basic materials company’s stock valued at $317,000 after acquiring an additional 1,477 shares during the period. 5.40% of the stock is owned by hedge funds and other institutional investors.

About ArcelorMittal

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ArcelorMittal SA is a holding company, which engages in steelmaking and mining activities. It operates through the following business segments: NAFTA; Brazil; Europe; Africa and Commonwealth of Independent States (ACIS), Mining, and Others. The NAFTA segment consists of flat products such as slabs, hot-rolled coil, cold-rolled coil, coated steel, and plate.