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ArcelorMittal S.A. (NYSE:MT - Get Rating) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 3,720,000 shares, a growth of 15.9% from the August 15th total of 3,210,000 shares. Based on an average daily volume of 2,990,000 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.5% of the company's stock are sold short. Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors increased its position in shares of ArcelorMittal by 166.1% in the first quarter. Captrust Financial Advisors now owns 1,381 shares of the basic materials company's stock valued at $44,000 after buying an additional 862 shares in the last quarter. Prospera Financial Services Inc purchased a new position in shares of ArcelorMittal in the first quarter valued at $45,000. Elequin Capital LP purchased a new position in shares of ArcelorMittal in the first quarter valued at $79,000. MQS Management LLC purchased a new position in shares of ArcelorMittal in the first quarter valued at $207,000. Finally, Penserra Capital Management LLC purchased a new stake in ArcelorMittal during the 1st quarter worth about $212,000. Hedge funds and other institutional investors own 10.00% of the company's stock. Wall Street Analyst Weigh In
MT has been the subject of several research analyst reports. StockNews.com downgraded ArcelorMittal from a "strong-buy" rating to a "buy" rating in a report on Friday, July 29th. JPMorgan Chase & Co. increased their price objective on ArcelorMittal from €30.50 ($31.12) to €31.00 ($31.63) in a report on Monday, August 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on ArcelorMittal from €38.00 ($38.78) to €37.00 ($37.76) in a report on Monday, August 1st. Morgan Stanley increased their price objective on ArcelorMittal from €46.00 ($46.94) to €46.10 ($47.04) and gave the company an "overweight" rating in a report on Thursday, June 23rd. Finally, UBS Group decreased their price target on ArcelorMittal from €38.00 ($38.78) to €27.00 ($27.55) in a report on Tuesday, July 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, ArcelorMittal presently has an average rating of "Moderate Buy" and a consensus price target of $39.35.ArcelorMittal Price Performance
NYSE:MT traded up $0.22 during trading hours on Friday, hitting $22.09. The company's stock had a trading volume of 3,688,225 shares, compared to its average volume of 2,811,899. The business's 50-day moving average is $23.43 and its two-hundred day moving average is $27.35. The company has a market capitalization of $20.72 billion, a PE ratio of 1.33 and a beta of 1.93. 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 52-week low of $20.86 and a 52-week high of $37.87.
ArcelorMittal (NYSE:MT - Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The basic materials company reported $4.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.19 by $0.05. The firm had revenue of $22.14 billion during the quarter, compared to analysts' expectations of $21.75 billion. ArcelorMittal had a return on equity of 31.17% and a net margin of 19.66%. ArcelorMittal's revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.46 earnings per share. As a group, research analysts anticipate that ArcelorMittal will post 12.48 EPS for the current fiscal year. ArcelorMittal Company Profile (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.Featured StoriesGet a free copy of the StockNews.com research report on ArcelorMittal (MT)3 Banks Worth Considering For Q4Stock Market: 3 Islands Of Strength In A Sea Of RedMarketBeat: Week in Review 9/12 – 9/16Is There a Cure for What is Ailing Teladoc Stock?No One Told These 3 Stocks It’s a Down Week
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