ArcelorMittal (NYSE:MT)’s share price dropped 4.5% during mid-day trading on Friday . The company traded as low as $31.83 and last traded at $31.86. Approximately 160,644 shares traded hands during trading, a decline of 97% from the average daily volume of 4,778,042 shares. The stock had previously closed at $33.36.
A number of research analysts have recently weighed in on MT shares. TheStreet upgraded ArcelorMittal from a “c” rating to a “b-” rating in a report on Wednesday, June 2nd. KeyCorp lifted their price target on ArcelorMittal from $37.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, July 30th. UBS Group reiterated a “buy” rating on shares of ArcelorMittal in a report on Monday, July 19th. Barclays reiterated an “overweight” rating on shares of ArcelorMittal in a report on Tuesday. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of ArcelorMittal in a report on Friday, July 30th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $32.98.
The company has a current ratio of 1.28, a quick ratio of 0.57 and a debt-to-equity ratio of 0.14. The firm has a market cap of $32.32 billion, a price-to-earnings ratio of 5.40, a PEG ratio of 1.70 and a beta of 1.99. The firm has a 50-day moving average of $33.43 and a two-hundred day moving average of $31.07.
Several hedge funds have recently added to or reduced their stakes in MT. Bessemer Group Inc. bought a new stake in shares of ArcelorMittal in the 1st quarter valued at approximately $30,000. Maverick Capital Ltd. bought a new stake in ArcelorMittal during the 2nd quarter worth approximately $36,000. Atlas Capital Advisors LLC grew its position in ArcelorMittal by 451.4% during the 2nd quarter. Atlas Capital Advisors LLC now owns 1,213 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 993 shares during the last quarter. Advisory Services Network LLC bought a new stake in ArcelorMittal during the 2nd quarter worth approximately $47,000. Finally, Ameritas Investment Company LLC bought a new stake in ArcelorMittal during the 1st quarter worth approximately $54,000. Institutional investors own 6.79% of the company’s stock.
ArcelorMittal Company Profile (NYSE:MT)
ArcelorMittal SA is a holding company, which engages in steelmaking and mining activities. It operates through the following business segments: NAFTA, Brazil, Europe, Africa and Commonwealth of Independent States (ACIS), Mining, and Others. The NAFTA segment consists of flat products such as slabs, hot-rolled coil, cold-rolled coil, coated steel, and plate.
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