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

ArcelorMittal S.A. (NYSE:MT) saw a significant increase in short interest in January. As of January 15th, there was short interest totalling 5,480,000 shares, an increase of 28.6% from the December 31st total of 4,260,000 shares. Based on an average daily trading volume, of 1,610,000 shares, the short-interest ratio is presently 3.4 days. Currently, 0.7% of the company’s stock are short sold.

Hedge Funds Weigh In On ArcelorMittal

Several large investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its position in ArcelorMittal by 89.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 536 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of ArcelorMittal by 68.5% in the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock worth $34,000 after buying an additional 595 shares in the last quarter. Eagle Asset Management Inc. boosted its stake in ArcelorMittal by 11.2% in the 3rd quarter. Eagle Asset Management Inc. now owns 16,008 shares of the basic materials company’s stock valued at $418,000 after buying an additional 1,615 shares in the last quarter. Seascape Capital Management boosted its stake in shares of ArcelorMittal by 7.4% in the 3rd quarter. Seascape Capital Management now owns 26,170 shares of the basic materials company’s stock valued at $687,000 after purchasing an additional 1,812 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of ArcelorMittal by 7.9% in the 3rd quarter. Signaturefd LLC now owns 30,011 shares of the basic materials company’s stock worth $788,000 after purchasing an additional 2,199 shares during the last quarter. Institutional investors and hedge funds own 9.29% of the company’s stock.

ArcelorMittal Stock Performance

Shares of MT traded down $0.37 during mid-day trading on Monday, hitting $24.34. The company’s stock had a trading volume of 1,885,945 shares, compared to its average volume of 1,834,180. ArcelorMittal has a one year low of $20.52 and a one year high of $28.95. The stock’s 50-day moving average is $23.86 and its two-hundred day moving average is $23.76. The firm has a market capitalization of $19.94 billion, a PE ratio of -17.26, a price-to-earnings-growth ratio of 0.49 and a beta of 1.74. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 1.46.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The company had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.11 billion. During the same quarter in the previous year, the firm posted $1.10 EPS. The business’s revenue was down 8.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that ArcelorMittal will post 2.73 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MT shares. Bank of America raised ArcelorMittal from a “neutral” rating to a “buy” rating and upped their target price for the stock from $30.00 to $32.90 in a research report on Thursday, November 14th. JPMorgan Chase & Co. downgraded shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a report on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $31.17.

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.