ArcelorMittal S.A. (NYSE:MT) Short Interest Update

ArcelorMittal S.A. (NYSE:MT) was the recipient of a large growth in short interest in February. As of February 15th, there was short interest totalling 5,680,000 shares, a growth of 38.2% from the January 31st total of 4,110,000 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 1,790,000 shares, the days-to-cover ratio is presently 3.2 days.

Analysts Set New Price Targets

MT has been the subject of a number of analyst reports. Bank of America raised ArcelorMittal from a “neutral” rating to a “buy” rating and increased their price target for the company from $30.00 to $32.90 in a report on Thursday, November 14th. Morgan Stanley lowered shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.17.

ArcelorMittal Stock Up 9.4 %

NYSE MT traded up $2.83 on Wednesday, hitting $33.09. 3,681,153 shares of the stock traded hands, compared to its average volume of 1,702,022. The company has a current ratio of 1.35, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average of $25.33 and a 200 day moving average of $24.67. ArcelorMittal has a twelve month low of $20.52 and a twelve month high of $33.13. The company has a market capitalization of $27.11 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 0.14 and a beta of 1.74.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. As a group, analysts expect that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ArcelorMittal

A number of institutional investors have recently modified their holdings of MT. Bank of New York Mellon Corp boosted its stake in ArcelorMittal by 221.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company’s stock valued at $78,712,000 after acquiring an additional 2,344,020 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of ArcelorMittal by 146.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,535,319 shares of the basic materials company’s stock worth $35,512,000 after purchasing an additional 912,984 shares during the last quarter. ABC Arbitrage SA acquired a new position in ArcelorMittal during the 4th quarter valued at approximately $9,895,000. FMR LLC grew its stake in ArcelorMittal by 46.7% during the 3rd quarter. FMR LLC now owns 1,317,833 shares of the basic materials company’s stock worth $34,606,000 after buying an additional 419,465 shares during the last quarter. Finally, OLD Mission Capital LLC increased its position in ArcelorMittal by 145.8% in the fourth quarter. OLD Mission Capital LLC now owns 678,350 shares of the basic materials company’s stock worth $15,690,000 after buying an additional 402,402 shares during the period. Institutional investors own 9.29% of the company’s stock.

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.