ArcelorMittal (NYSE:MT) Cut to Underweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of ArcelorMittal (NYSE:MT) from an overweight rating to an underweight rating in a report released on Monday morning, Marketbeat.com reports.

A number of other research analysts have also recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ArcelorMittal in a research report on Wednesday, January 21st. UBS Group lowered shares of ArcelorMittal from a “buy” rating to a “neutral” rating in a research report on Monday, November 17th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of ArcelorMittal in a research note on Friday, February 6th. Santander upgraded shares of ArcelorMittal from a “neutral” rating to an “outperform” rating in a report on Thursday, February 5th. Finally, Jefferies Financial Group raised shares of ArcelorMittal from a “hold” rating to a “buy” rating and upped their price target for the stock from $51.10 to $73.20 in a research report on Wednesday, February 11th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $51.98.

ArcelorMittal Stock Performance

ArcelorMittal stock opened at $56.58 on Monday. The company has a market cap of $43.85 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 0.47 and a beta of 1.48. ArcelorMittal has a 12 month low of $23.19 and a 12 month high of $67.60. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.36 and a quick ratio of 0.53. The stock’s 50-day moving average is $56.46 and its 200-day moving average is $45.27.

ArcelorMittal (NYSE:MT) last issued its earnings results on Thursday, February 5th. The basic materials company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.30. The business had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.56 billion. ArcelorMittal had a return on equity of 5.27% and a net margin of 5.14%.The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 EPS. Equities analysts anticipate that ArcelorMittal will post 3.72 earnings per share for the current year.

ArcelorMittal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Friday, November 13th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.60 annualized dividend and a yield of 1.1%. ArcelorMittal’s dividend payout ratio (DPR) is 12.44%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. State of Wyoming purchased a new stake in ArcelorMittal during the 3rd quarter worth $36,000. True Wealth Design LLC grew its stake in shares of ArcelorMittal by 41.4% during the fourth quarter. True Wealth Design LLC now owns 799 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 234 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of ArcelorMittal during the fourth quarter worth about $44,000. Geneos Wealth Management Inc. increased its position in shares of ArcelorMittal by 44.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 501 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in shares of ArcelorMittal by 91.5% in the fourth quarter. Allworth Financial LP now owns 1,126 shares of the basic materials company’s stock worth $51,000 after acquiring an additional 538 shares in the last quarter. 9.29% of the stock is owned by institutional investors and hedge funds.

About ArcelorMittal

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.