ArcelorMittal (NYSE:MT) Short Interest Update

ArcelorMittal (NYSE:MT) was the target of a significant decrease in short interest in the month of January. As of January 30th, there was short interest totaling 2,369,795 shares, a decrease of 27.8% from the January 15th total of 3,281,039 shares. Based on an average daily trading volume, of 1,863,206 shares, the short-interest ratio is currently 1.3 days. Approximately 0.3% of the company’s shares are short sold. Approximately 0.3% of the company’s shares are short sold. Based on an average daily trading volume, of 1,863,206 shares, the short-interest ratio is currently 1.3 days.

Institutional Investors Weigh In On ArcelorMittal

A number of large investors have recently added to or reduced their stakes in MT. American Century Companies Inc. increased its stake in shares of ArcelorMittal by 39.1% in the second quarter. American Century Companies Inc. now owns 392,644 shares of the basic materials company’s stock worth $12,400,000 after purchasing an additional 110,420 shares in the last quarter. Covalis Capital LLP purchased a new stake in ArcelorMittal in the 2nd quarter worth $3,644,000. Vise Technologies Inc. bought a new stake in ArcelorMittal during the second quarter valued at about $430,000. Arrow Capital Pty Ltd bought a new stake in ArcelorMittal during the second quarter valued at about $5,206,000. Finally, Creative Planning lifted its position in shares of ArcelorMittal by 13.5% in the second quarter. Creative Planning now owns 73,957 shares of the basic materials company’s stock valued at $2,336,000 after acquiring an additional 8,768 shares in the last quarter. Institutional investors own 9.29% of the company’s stock.

ArcelorMittal Stock Down 0.1%

MT traded down $0.06 during midday trading on Monday, reaching $61.53. The company’s stock had a trading volume of 2,299,999 shares, compared to its average volume of 1,955,232. The stock’s 50-day moving average is $50.38 and its 200-day moving average is $41.66. The firm has a market capitalization of $47.68 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.54 and a beta of 1.52. ArcelorMittal has a 1 year low of $23.19 and a 1 year high of $66.97. The company has a current ratio of 1.36, a quick ratio of 0.53 and a debt-to-equity ratio of 0.19.

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

ArcelorMittal Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors 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 1.0%. ArcelorMittal’s dividend payout ratio is 11.46%.

Analyst Upgrades and Downgrades

MT has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of ArcelorMittal in a research note on Friday, February 6th. Oddo Bhf raised ArcelorMittal from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 14th. Jefferies Financial Group upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and raised their target price for the stock from $51.10 to $73.20 in a report on Wednesday, February 11th. Santander raised shares of ArcelorMittal from a “neutral” rating to an “outperform” rating in a research note on Thursday, February 5th. Finally, UBS Group lowered shares of ArcelorMittal from a “buy” rating to a “neutral” rating in a report on Monday, November 17th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.98.

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.