Posted by admin on May 11th, 2022

ArcelorMittal S.A. (NYSE:MT – Get Rating) declared an annual dividend on Wednesday, February 16th, Wall Street Journal reports. Shareholders of record on Monday, May 16th will be paid a dividend of 0.38 per share by the basic materials company on Friday, June 10th. This represents a dividend yield of 1.8%. The ex-dividend date is Friday, May 13th. This is a boost from ArcelorMittal’s previous annual dividend of $0.30.

ArcelorMittal has a payout ratio of 5.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ArcelorMittal to earn $8.75 per share next year, which means the company should continue to be able to cover its $0.38 annual dividend with an expected future payout ratio of 4.3%.

Shares of NYSE:MT opened at $27.76 on Wednesday. The company’s 50 day moving average price is $31.07 and its two-hundred day moving average price is $31.46. ArcelorMittal has a 12-month low of $26.59 and a 12-month high of $37.87. The firm has a market cap of $26.03 billion, a PE ratio of 1.76 and a beta of 1.92. The company has a quick ratio of 0.62, a current ratio of 1.45 and a debt-to-equity ratio of 0.13.

ArcelorMittal (NYSE:MT – Get Rating) last announced its earnings results on Thursday, February 10th. The basic materials company reported $3.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.39 by $0.32. ArcelorMittal had a net margin of 20.43% and a return on equity of 34.09%. The firm had revenue of $20.81 billion for the quarter, compared to analyst estimates of $19.98 billion. During the same quarter in the prior year, the business posted $0.18 EPS. The business’s revenue was up 46.7% compared to the same quarter last year. On average, research analysts expect that ArcelorMittal will post 11.93 EPS for the current year.

A number of analysts have recently weighed in on MT shares. AlphaValue raised shares of ArcelorMittal to a “reduce” rating in a report on Tuesday, February 15th. The Goldman Sachs Group downgraded shares of ArcelorMittal from a “buy” rating to a “neutral” rating in a research note on Wednesday, January 26th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of ArcelorMittal from €48.00 ($50.53) to €49.00 ($51.58) in a research note on Friday, May 6th. StockNews.com downgraded shares of ArcelorMittal from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, JPMorgan Chase & Co. increased their price objective on shares of ArcelorMittal from €43.00 ($45.26) to €48.00 ($50.53) in a research note on Thursday, April 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $42.41.

Institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA grew its holdings in ArcelorMittal by 82.3% in the fourth quarter. BNP Paribas Arbitrage SA now owns 1,353 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 611 shares during the period. Geode Capital Management LLC grew its holdings in ArcelorMittal by 11.8% in the third quarter. Geode Capital Management LLC now owns 18,038 shares of the basic materials company’s stock worth $544,000 after purchasing an additional 1,905 shares during the period. Guggenheim Capital LLC grew its holdings in ArcelorMittal by 12.1% in the fourth quarter. Guggenheim Capital LLC now owns 18,933 shares of the basic materials company’s stock worth $603,000 after purchasing an additional 2,041 shares during the period. State Street Corp grew its holdings in ArcelorMittal by 4.6% in the fourth quarter. State Street Corp now owns 109,491 shares of the basic materials company’s stock worth $3,485,000 after purchasing an additional 4,789 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in ArcelorMittal by 48.4% in the third quarter. Bank of New York Mellon Corp now owns 17,021 shares of the basic materials company’s stock worth $512,000 after purchasing an additional 5,554 shares during the period. Institutional investors own 41.79% of the company’s stock.

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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