ArcelorMittal S.A. (NYSE:MT) Short Interest Down 18.7% in April

ArcelorMittal S.A. (NYSE:MTGet Rating) saw a significant decrease in short interest in the month of April. As of April 30th, there was short interest totalling 5,050,000 shares, a decrease of 18.7% from the April 15th total of 6,210,000 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average daily trading volume, of 4,710,000 shares, the short-interest ratio is currently 1.1 days.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. increased its position in shares of ArcelorMittal by 320.8% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 909 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 693 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of ArcelorMittal by 82.3% in the 4th quarter. BNP Paribas Arbitrage SA now owns 1,353 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 611 shares during the period. Captrust Financial Advisors grew its position in ArcelorMittal by 166.1% during the 1st quarter. Captrust Financial Advisors now owns 1,381 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 862 shares during the period. Prospera Financial Services Inc acquired a new stake in ArcelorMittal during the 1st quarter worth about $45,000. Finally, National Bank of Canada FI acquired a new stake in ArcelorMittal during the 4th quarter worth about $46,000. 41.79% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE MT traded up $0.17 during mid-day trading on Thursday, hitting $28.62. The stock had a trading volume of 72,194 shares, compared to its average volume of 4,739,592. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.71 and a current ratio of 1.55. The company has a 50 day moving average of $30.86 and a two-hundred day moving average of $31.23. ArcelorMittal has a twelve month low of $26.36 and a twelve month high of $37.87. The firm has a market cap of $26.84 billion, a PE ratio of 1.80 and a beta of 1.92.

MT has been the subject of a number of analyst reports. Zacks Investment Research upgraded ArcelorMittal from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a report on Wednesday, May 11th. StockNews.com upgraded ArcelorMittal from a “buy” rating to a “strong-buy” rating in a report on Tuesday. AlphaValue upgraded ArcelorMittal to a “reduce” rating in a report on Tuesday, February 15th. The Goldman Sachs Group lowered ArcelorMittal from a “buy” rating to a “neutral” rating in a report on Wednesday, January 26th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on ArcelorMittal from €48.00 ($50.00) to €49.00 ($51.04) in a report on Friday, May 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $42.13.

About ArcelorMittal (Get Rating)

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in Europe, North and South America, Asia, and Africa. Its principal steel products include 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, which includes blooms and billets; finished long products, including bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.

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