ArcelorMittal (NYSE:MT) Upgraded to “Buy” at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of ArcelorMittal (NYSE:MT) from a neutral rating to a buy rating in a report issued on Thursday morning, MarketBeat.com reports. The Goldman Sachs Group currently has $31.70 target price on the basic materials company’s stock, up from their previous target price of $29.00.

MT has been the topic of several other reports. Jefferies Financial Group lowered shares of ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 price target on the stock. in a research note on Wednesday, March 26th. Morgan Stanley downgraded ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $32.95.

ArcelorMittal Stock Up 5.2 %

MT stock opened at $26.82 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59. The stock has a market capitalization of $21.97 billion, a P/E ratio of 16.25, a P/E/G ratio of 0.14 and a beta of 1.60. ArcelorMittal has a fifty-two week low of $20.52 and a fifty-two week high of $34.90. The business has a 50-day moving average of $29.07 and a 200-day moving average of $25.99.

ArcelorMittal (NYSE:MT) last released 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 return on equity of 4.31% and a net margin of 2.14%. On average, sell-side analysts anticipate that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, December 3rd. Investors of record on Thursday, November 13th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a yield of 1.5%. ArcelorMittal’s dividend payout ratio (DPR) is currently 27.88%.

Institutional Trading of ArcelorMittal

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of ArcelorMittal by 3,683.6% in the first quarter. GAMMA Investing LLC now owns 55,392 shares of the basic materials company’s stock valued at $15,980,000 after purchasing an additional 53,928 shares during the last quarter. Versant Capital Management Inc acquired a new position in ArcelorMittal in the 1st quarter valued at about $219,000. Wealth Enhancement Advisory Services LLC raised its holdings in ArcelorMittal by 5.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 25,690 shares of the basic materials company’s stock valued at $594,000 after acquiring an additional 1,224 shares during the period. Polar Asset Management Partners Inc. acquired a new stake in ArcelorMittal during the fourth quarter worth approximately $2,521,000. Finally, Vise Technologies Inc. bought a new stake in shares of ArcelorMittal during the fourth quarter worth approximately $217,000. Institutional investors own 9.29% of the company’s stock.

ArcelorMittal Company Profile

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.