Deutsche Bank Aktiengesellschaft Reiterates “Hold” Rating for ArcelorMittal (NYSE:MT)

Deutsche Bank Aktiengesellschaft reissued their hold rating on shares of ArcelorMittal (NYSE:MT) in a research note published on Tuesday, MarketBeat reports. The firm currently has a $31.00 price objective on the basic materials company’s stock, down from their previous price objective of $34.00.

Separately, StockNews.com cut ArcelorMittal from a buy rating to a hold rating in a research note on Monday, March 4th.

ArcelorMittal Trading Up 0.1 %

NYSE MT opened at $25.14 on Tuesday. The stock has a 50-day simple moving average of $26.78 and a 200 day simple moving average of $25.88. The company has a market capitalization of $20.25 billion, a PE ratio of 25.14, a P/E/G ratio of 0.31 and a beta of 1.93. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 0.15. ArcelorMittal has a 12 month low of $21.30 and a 12 month high of $29.56.

ArcelorMittal (NYSE:MT) last released its quarterly earnings data on Thursday, February 8th. The basic materials company reported ($3.57) EPS for the quarter, missing analysts’ consensus estimates of ($2.08) by ($1.49). The company had revenue of $14.55 billion during the quarter, compared to the consensus estimate of $16.39 billion. ArcelorMittal had a net margin of 1.35% and a return on equity of 8.55%. The company’s revenue for the quarter was down 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.37 EPS. Research analysts forecast that ArcelorMittal will post 4.37 EPS for the current year.

ArcelorMittal Dividend Announcement

The firm also recently announced a Semi-Annual dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 17th will be paid a $0.213 dividend. The ex-dividend date is Thursday, May 16th. ArcelorMittal’s payout ratio is 37.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Securities Inc. acquired a new position in shares of ArcelorMittal during the fourth quarter worth about $25,000. Tower Research Capital LLC TRC acquired a new position in shares of ArcelorMittal during the third quarter worth about $28,000. GAMMA Investing LLC acquired a new position in shares of ArcelorMittal during the fourth quarter worth about $30,000. EverSource Wealth Advisors LLC boosted its position in shares of ArcelorMittal by 84.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,128 shares of the basic materials company’s stock worth $32,000 after buying an additional 517 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of ArcelorMittal by 336.3% during the fourth quarter. Blue Trust Inc. now owns 1,309 shares of the basic materials company’s stock worth $37,000 after buying an additional 1,009 shares during the period. 9.88% of the stock is owned by institutional investors and hedge funds.

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.