Jefferies Financial Group Downgrades ArcelorMittal (NYSE:MT) to Hold

ArcelorMittal (NYSE:MT) was downgraded by Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued on Wednesday,Finviz reports.

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

ArcelorMittal Price Performance

MT stock opened at $31.55 on Wednesday. The stock has a market cap of $25.85 billion, a price-to-earnings ratio of 19.12, 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. The company has a 50 day simple moving average of $28.21 and a 200 day simple moving average of $25.63. ArcelorMittal has a 1 year low of $20.52 and a 1 year high of $34.90.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 EPS 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%. Research analysts anticipate that ArcelorMittal will post 3.72 EPS for the current fiscal year.

Institutional Investors Weigh In On ArcelorMittal

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