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

ArcelorMittal S.A. (NYSE:MT) saw a large decline in short interest in the month of February. As of February 28th, there was short interest totalling 4,460,000 shares, a decline of 21.5% from the February 13th total of 5,680,000 shares. Based on an average trading volume of 2,230,000 shares, the days-to-cover ratio is currently 2.0 days. Approximately 0.6% of the shares of the company are short sold.

Analysts Set New Price Targets

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

ArcelorMittal Price Performance

NYSE:MT traded up $0.46 during midday trading on Tuesday, hitting $32.50. 1,675,845 shares of the stock were exchanged, compared to its average volume of 1,784,167. The company has a market capitalization of $26.63 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 0.14 and a beta of 1.79. The company has a current ratio of 1.35, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. ArcelorMittal has a one year low of $20.52 and a one year high of $34.90. The business has a 50-day moving average price of $27.22 and a two-hundred day moving average price of $25.30.

ArcelorMittal (NYSE:MT) last issued 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 net margin of 2.14% and a return on equity of 4.31%. Sell-side analysts predict that ArcelorMittal will post 3.72 EPS for the current year.

ArcelorMittal Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Thursday, November 13th will be issued a $0.275 dividend. This represents a yield of 1.5%. The ex-dividend date is Wednesday, November 12th. ArcelorMittal’s payout ratio is 25.45%.

Hedge Funds Weigh In On ArcelorMittal

Large investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. boosted its position in shares of ArcelorMittal by 89.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 536 shares during the period. GAMMA Investing LLC lifted its stake in ArcelorMittal by 68.5% during the fourth quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock valued at $34,000 after buying an additional 595 shares in the last quarter. US Bancorp DE boosted its holdings in shares of ArcelorMittal by 5.0% in the fourth quarter. US Bancorp DE now owns 15,085 shares of the basic materials company’s stock worth $349,000 after buying an additional 717 shares during the period. Dorsey & Whitney Trust CO LLC increased its position in shares of ArcelorMittal by 9.1% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,545 shares of the basic materials company’s stock worth $221,000 after acquiring an additional 797 shares in the last quarter. Finally, United Capital Financial Advisors LLC increased its position in shares of ArcelorMittal by 11.5% in the fourth quarter. United Capital Financial Advisors LLC now owns 10,940 shares of the basic materials company’s stock worth $253,000 after acquiring an additional 1,129 shares in the last quarter. 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.