ArcelorMittal (NYSE:MT) Shares Gap Down to $26.95

ArcelorMittal S.A. (NYSE:MT)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $26.95, but opened at $25.35. ArcelorMittal shares last traded at $25.21, with a volume of 976,179 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $31.00 price target (down from $34.00) on shares of ArcelorMittal in a research report on Tuesday. StockNews.com downgraded ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Monday, March 4th.

ArcelorMittal Trading Down 0.3 %

The firm has a market capitalization of $20.22 billion, a price-to-earnings ratio of 25.11, a P/E/G ratio of 0.34 and a beta of 1.93. The business has a 50-day moving average of $26.85 and a two-hundred day moving average of $25.88. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 0.15.

ArcelorMittal (NYSE:MT) last released its earnings results on Thursday, February 8th. The basic materials company reported ($3.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.08) by ($1.49). ArcelorMittal had a return on equity of 8.55% and a net margin of 1.35%. The firm had revenue of $14.55 billion for the quarter, compared to analyst estimates of $16.39 billion. During the same period last year, the business earned $1.37 earnings per share. The firm’s quarterly revenue was down 13.8% compared to the same quarter last year. Research analysts predict that ArcelorMittal S.A. will post 4.37 EPS for the current fiscal year.

ArcelorMittal Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership lifted its stake in ArcelorMittal by 1,300.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,349,935 shares of the basic materials company’s stock worth $171,251,000 after purchasing an additional 4,967,981 shares during the period. BlackRock Inc. lifted its stake in ArcelorMittal by 96.3% during the first quarter. BlackRock Inc. now owns 3,706,360 shares of the basic materials company’s stock worth $118,642,000 after purchasing an additional 1,818,361 shares during the period. Clearbridge Investments LLC lifted its stake in ArcelorMittal by 21.8% during the first quarter. Clearbridge Investments LLC now owns 3,126,342 shares of the basic materials company’s stock worth $100,074,000 after purchasing an additional 558,849 shares during the period. Morgan Stanley lifted its stake in ArcelorMittal by 111.6% during the third quarter. Morgan Stanley now owns 3,036,238 shares of the basic materials company’s stock worth $75,997,000 after purchasing an additional 1,601,336 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in ArcelorMittal by 5.9% during the first quarter. Two Sigma Advisers LP now owns 2,508,700 shares of the basic materials company’s stock worth $75,562,000 after purchasing an additional 140,500 shares during the period. Institutional investors own 9.88% of the company’s stock.

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.