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ArcelorMittal S.A. (NYSE:MT - Get Rating) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 5,030,000 shares, an increase of 35.2% from the August 31st total of 3,720,000 shares. Based on an average trading volume of 2,880,000 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.6% of the company's stock are short sold. ArcelorMittal Stock Performance

ArcelorMittal stock traded down $0.35 during mid-day trading on Thursday, reaching $19.54. The company's stock had a trading volume of 143,123 shares, compared to its average volume of 3,107,159. The firm's fifty day moving average price is $23.20 and its two-hundred day moving average price is $26.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.68 and a current ratio of 1.58. ArcelorMittal has a 12-month low of $19.27 and a 12-month high of $37.87. The company has a market capitalization of $18.32 billion, a P/E ratio of 1.19 and a beta of 1.93.

ArcelorMittal (NYSE:MT - Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The basic materials company reported $4.24 EPS for the quarter, beating the consensus estimate of $4.19 by $0.05. ArcelorMittal had a net margin of 19.66% and a return on equity of 31.17%. The firm had revenue of $22.14 billion during the quarter, compared to the consensus estimate of $21.75 billion. During the same period last year, the firm earned $3.46 EPS. The business's quarterly revenue was up 14.5% compared to the same quarter last year. Sell-side analysts predict that ArcelorMittal will post 12.25 EPS for the current fiscal year. Institutional Trading of ArcelorMittal

A number of hedge funds have recently made changes to their positions in MT. Bayesian Capital Management LP bought a new stake in shares of ArcelorMittal during the 4th quarter worth $497,000. Squarepoint Ops LLC bought a new stake in ArcelorMittal in the fourth quarter worth $1,434,000. Schonfeld Strategic Advisors LLC lifted its stake in ArcelorMittal by 19.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 767,307 shares of the basic materials company's stock worth $24,424,000 after purchasing an additional 125,474 shares during the last quarter. Belpointe Asset Management LLC lifted its stake in ArcelorMittal by 3.8% in the fourth quarter. Belpointe Asset Management LLC now owns 34,910 shares of the basic materials company's stock worth $1,111,000 after purchasing an additional 1,267 shares during the last quarter. Finally, MidWestOne Financial Group Inc. lifted its stake in ArcelorMittal by 45.1% in the fourth quarter. MidWestOne Financial Group Inc. now owns 17,004 shares of the basic materials company's stock worth $541,000 after purchasing an additional 5,283 shares during the last quarter. 10.00% of the stock is owned by institutional investors. Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of ArcelorMittal from €46.00 ($46.94) to €46.10 ($47.04) and gave the company an "overweight" rating in a research report on Thursday, June 23rd. StockNews.com cut shares of ArcelorMittal from a "strong-buy" rating to a "buy" rating in a research report on Friday, July 29th. UBS Group dropped their target price on shares of ArcelorMittal from €38.00 ($38.78) to €27.00 ($27.55) in a research report on Tuesday, July 26th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of ArcelorMittal from €38.00 ($38.78) to €37.00 ($37.76) in a research report on Monday, August 1st. Finally, JPMorgan Chase & Co. dropped their target price on shares of ArcelorMittal from €31.00 ($31.63) to €23.50 ($23.98) and set a "neutral" rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, ArcelorMittal currently has an average rating of "Moderate Buy" and an average target price of $38.10.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.Recommended StoriesGet a free copy of the StockNews.com research report on ArcelorMittal (MT)What Cintas Can Teach Investors About This Bear Market? This Small-Cap Healthcare Name Is Outperforming Its Index2 Casino Stocks Worth Taking a Look AtBlackberry Stock Declines As Results Come In Lukewarm Once AgainA Trio of Q3 Winners With Room to Run

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