ArcelorMittal Target of Unusually Large Options Trading (NYSE:MT)

ArcelorMittal (NYSE:MT) was the recipient of unusually large options trading on Wednesday. Stock investors acquired 173,401 call options on the stock. This is an increase of 1,994% compared to the typical volume of 8,281 call options.

A number of institutional investors have recently bought and sold shares of the business. Assetmark Inc. acquired a new position in shares of ArcelorMittal in the 4th quarter worth approximately $25,000. Bessemer Group Inc. bought a new position in ArcelorMittal in the 1st quarter valued at $30,000. Freedman Financial Associates Inc. bought a new position in ArcelorMittal in the 4th quarter valued at $31,000. Steward Partners Investment Advisory LLC bought a new position in ArcelorMittal in the 4th quarter valued at $50,000. Finally, Ameritas Investment Company LLC bought a new position in ArcelorMittal in the 1st quarter valued at $54,000. 6.02% of the stock is owned by hedge funds and other institutional investors.

Shares of MT stock opened at $32.59 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.72 and a current ratio of 1.27. ArcelorMittal has a fifty-two week low of $9.92 and a fifty-two week high of $33.96. The business has a 50-day moving average price of $31.11. The firm has a market cap of $32.98 billion, a price-to-earnings ratio of 14.68, a P/E/G ratio of 2.61 and a beta of 2.08.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Wednesday, May 5th. The basic materials company reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.36. ArcelorMittal had a return on equity of 5.03% and a net margin of 4.89%. The company had revenue of $16.19 billion during the quarter, compared to the consensus estimate of $16.09 billion. During the same quarter in the prior year, the company posted ($0.56) EPS. The firm’s revenue was up 14.2% on a year-over-year basis. As a group, sell-side analysts forecast that ArcelorMittal will post 8.19 earnings per share for the current fiscal year.

The company also recently declared an annual dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Friday, June 11th will be issued a $0.30 dividend. The ex-dividend date is Thursday, June 10th. This represents a yield of 0.92%.

Several research analysts have issued reports on MT shares. KeyCorp increased their price objective on ArcelorMittal from $33.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, May 10th. UBS Group reaffirmed a “buy” rating on shares of ArcelorMittal in a research note on Wednesday, June 2nd. TheStreet raised ArcelorMittal from a “c” rating to a “b-” rating in a research report on Wednesday, June 2nd. Credit Suisse Group restated a “neutral” rating on shares of ArcelorMittal in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of ArcelorMittal in a report on Friday, May 7th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $28.00.

ArcelorMittal Company Profile

ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. The company's principal steel products include semi-finished flat products, such as 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, including bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.

See Also: Dividend Reinvestment Plan (DRIP)

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