ArcelorMittal (NYSE:MT) Hits New 12-Month Low at $21.24

ArcelorMittal S.A. (NYSE:MT) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $21.24 and last traded at $21.26, with a volume of 2057954 shares changing hands. The stock had previously closed at $22.86.

Wall Street Analyst Weigh In

MT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $31.00 price objective (down previously from $34.00) on shares of ArcelorMittal in a research note on Tuesday, April 16th. The Goldman Sachs Group assumed coverage on ArcelorMittal in a report on Thursday, May 9th. They issued a “neutral” rating and a $29.60 target price on the stock. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $30.30.

ArcelorMittal Trading Down 6.3 %

The business has a 50-day moving average of $23.89 and a two-hundred day moving average of $25.65. The company has a quick ratio of 0.65, a current ratio of 1.55 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $17.25 billion, a price-to-earnings ratio of 24.09, a P/E/G ratio of 0.35 and a beta of 1.77.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.23. The firm had revenue of $16.28 billion for the quarter, compared to analyst estimates of $16.67 billion. ArcelorMittal had a net margin of 1.15% and a return on equity of 8.29%. The business’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.27 EPS. Research analysts predict that ArcelorMittal S.A. will post 3.92 EPS for the current fiscal year.

Institutional Investors Weigh In On ArcelorMittal

A number of institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in shares of ArcelorMittal by 336.3% during the 4th quarter. Blue Trust Inc. now owns 1,309 shares of the basic materials company’s stock worth $37,000 after buying an additional 1,009 shares during the period. International Assets Investment Management LLC acquired a new position in ArcelorMittal during the fourth quarter worth $5,160,000. Cerity Partners LLC lifted its holdings in shares of ArcelorMittal by 21.2% during the fourth quarter. Cerity Partners LLC now owns 13,936 shares of the basic materials company’s stock valued at $396,000 after acquiring an additional 2,440 shares during the period. Knights of Columbus Asset Advisors LLC boosted its stake in shares of ArcelorMittal by 14.7% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 8,334 shares of the basic materials company’s stock valued at $237,000 after purchasing an additional 1,065 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of ArcelorMittal by 16.0% in the 4th quarter. Signaturefd LLC now owns 25,684 shares of the basic materials company’s stock worth $729,000 after purchasing an additional 3,550 shares during the last quarter. 9.88% of the stock is owned by institutional investors and hedge funds.

ArcelorMittal Company Profile

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.