ArcelorMittal S.A. (NYSE:MT) Short Interest Down 21.5% in February

ArcelorMittal S.A. (NYSE:MT) saw a large drop in short interest in February. As of February 28th, there was short interest totalling 4,460,000 shares, a drop of 21.5% from the February 13th total of 5,680,000 shares. Currently, 0.6% of the shares of the stock are short sold. Based on an average daily volume of 2,230,000 shares, the short-interest ratio is presently 2.0 days.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley lowered shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.17.

ArcelorMittal Trading Up 2.0 %

NYSE MT traded up $0.66 on Wednesday, reaching $33.18. The company had a trading volume of 1,181,661 shares, compared to its average volume of 1,781,977. The firm has a market cap of $27.18 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 0.14 and a beta of 1.79. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59. 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 $27.22 and a two-hundred day moving average of $25.30.

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

ArcelorMittal Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Thursday, November 13th will be paid a dividend of $0.275 per share. This represents a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, November 12th. ArcelorMittal’s dividend payout ratio (DPR) is presently 25.45%.

Institutional Investors Weigh In On ArcelorMittal

Several institutional investors and hedge funds have recently added to or reduced their stakes in MT. Bank of New York Mellon Corp raised its position 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 worth $78,712,000 after acquiring an additional 2,344,020 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of ArcelorMittal by 146.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,535,319 shares of the basic materials company’s stock valued at $35,512,000 after acquiring an additional 912,984 shares during the last quarter. ABC Arbitrage SA purchased a new position in ArcelorMittal in the 4th quarter worth approximately $9,895,000. FMR LLC increased its stake in ArcelorMittal by 46.7% in the third quarter. FMR LLC now owns 1,317,833 shares of the basic materials company’s stock valued at $34,606,000 after acquiring an additional 419,465 shares during the last quarter. Finally, OLD Mission Capital LLC lifted its stake in ArcelorMittal by 145.8% during the fourth quarter. OLD Mission Capital LLC now owns 678,350 shares of the basic materials company’s stock worth $15,690,000 after purchasing an additional 402,402 shares during the last quarter. Hedge funds and other 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.