ArcelorMittal (NYSE:MT) Stock Rating Reaffirmed by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reaffirmed their hold rating on shares of ArcelorMittal (NYSE:MT) in a report issued on Tuesday, Marketbeat.com reports. They currently have a $31.00 price target on the basic materials company’s stock, down from their previous price target of $34.00.

Separately, StockNews.com lowered ArcelorMittal from a buy rating to a hold rating in a report on Monday, March 4th.

ArcelorMittal Trading Up 1.0 %

Shares of MT stock opened at $25.39 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.67 and a current ratio of 1.53. ArcelorMittal has a 1 year low of $21.30 and a 1 year high of $29.49. The stock has a fifty day moving average of $26.71 and a two-hundred day moving average of $25.88. The firm has a market capitalization of $20.45 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 0.38 and a beta of 1.93.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, February 8th. The basic materials company reported ($3.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.08) by ($1.49). The business had revenue of $14.55 billion for the quarter, compared to analyst estimates of $16.39 billion. ArcelorMittal had a return on equity of 8.55% and a net margin of 1.35%. The company’s revenue was down 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.37 EPS. As a group, research analysts expect that ArcelorMittal will post 4.13 EPS for the current year.

ArcelorMittal Announces Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, June 12th. Stockholders of record on Friday, May 17th will be issued a $0.213 dividend. The ex-dividend date of this dividend is Thursday, May 16th. ArcelorMittal’s dividend payout ratio (DPR) is 42.00%.

Institutional Investors Weigh In On ArcelorMittal

Several hedge funds have recently modified their holdings of MT. Arrowstreet Capital Limited Partnership lifted its holdings in shares of ArcelorMittal by 1,300.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,349,935 shares of the basic materials company’s stock valued at $171,251,000 after purchasing an additional 4,967,981 shares during the last quarter. BlackRock Inc. raised its position in ArcelorMittal by 96.3% during the first quarter. BlackRock Inc. now owns 3,706,360 shares of the basic materials company’s stock valued at $118,642,000 after buying an additional 1,818,361 shares during the period. Renaissance Technologies LLC acquired a new position in ArcelorMittal during the first quarter valued at $54,502,000. Morgan Stanley raised its position in ArcelorMittal by 111.6% during the third quarter. Morgan Stanley now owns 3,036,238 shares of the basic materials company’s stock valued at $75,997,000 after buying an additional 1,601,336 shares during the period. Finally, Balyasny Asset Management L.P. raised its position in ArcelorMittal by 276.3% during the fourth quarter. Balyasny Asset Management L.P. now owns 509,737 shares of the basic materials company’s stock valued at $14,471,000 after buying an additional 798,899 shares during the period. 9.88% of the stock is owned by hedge funds and other institutional investors.

About ArcelorMittal

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.