ArcelorMittal (NYSE:MT) Trading Down 2.6%

Shares of ArcelorMittal S.A. (NYSE:MT) were down 2.6% during mid-day trading on Tuesday . The company traded as low as $25.15 and last traded at $25.15. Approximately 273,671 shares traded hands during trading, a decline of 82% from the average daily volume of 1,559,169 shares. The stock had previously closed at $25.81.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MT shares. StockNews.com downgraded ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $31.00 price target (down previously from $34.00) on shares of ArcelorMittal in a research report on Tuesday, April 16th.

ArcelorMittal Price Performance

The company has a 50-day moving average price of $26.58 and a two-hundred day moving average price of $25.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.53 and a quick ratio of 0.67. The company has a market cap of $20.29 billion, a PE ratio of 25.20, a P/E/G ratio of 0.39 and a beta of 1.93.

ArcelorMittal (NYSE:MT) last issued its earnings results on Thursday, February 8th. The basic materials company reported ($3.57) earnings per share for the quarter, missing the consensus estimate of ($2.08) by ($1.49). ArcelorMittal had a return on equity of 8.55% and a net margin of 1.35%. The company had revenue of $14.55 billion during the quarter, compared to analysts’ expectations of $16.39 billion. During the same period in the previous year, the company earned $1.37 EPS. ArcelorMittal’s quarterly revenue was down 13.8% on a year-over-year basis. Sell-side analysts expect that ArcelorMittal S.A. will post 4.13 earnings per share for the current fiscal year.

ArcelorMittal Dividend Announcement

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

Institutional Investors Weigh In On ArcelorMittal

Several institutional investors and hedge funds have recently modified their holdings of MT. MMCAP International Inc. SPC purchased a new stake in shares of ArcelorMittal in the fourth quarter worth about $9,058,000. Appian Way Asset Management LP purchased a new position in ArcelorMittal in the third quarter valued at about $4,786,000. Crestline Management LP purchased a new position in ArcelorMittal in the fourth quarter valued at about $2,839,000. QRG Capital Management Inc. purchased a new position in ArcelorMittal in the third quarter valued at about $1,988,000. Finally, Goldman Sachs Group Inc. boosted its holdings in ArcelorMittal by 8.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 839,485 shares of the basic materials company’s stock valued at $23,833,000 after purchasing an additional 66,813 shares during the last quarter. Hedge funds and other institutional investors own 9.88% 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.