ArcelorMittal SA (NYSE:MT) shares hit a new 52-week low during trading on Friday . The stock traded as low as $27.15 and last traded at $27.33, with a volume of 281511 shares traded. The stock had previously closed at $27.90.
Several research analysts recently weighed in on the stock. ValuEngine cut shares of ArcelorMittal from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Citigroup restated a “buy” rating on shares of ArcelorMittal in a research report on Thursday, July 12th. Zacks Investment Research cut shares of ArcelorMittal from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 4th. Credit Suisse Group restated a “buy” rating on shares of ArcelorMittal in a research report on Thursday, August 2nd. Finally, Macquarie assumed coverage on shares of ArcelorMittal in a research report on Friday, July 6th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $37.00.
The company has a current ratio of 1.38, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $29.31 billion, a price-to-earnings ratio of 5.19, a P/E/G ratio of 1.44 and a beta of 2.31.
Institutional investors have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. bought a new stake in shares of ArcelorMittal during the 2nd quarter valued at $123,000. Financial Gravity Wealth Inc. bought a new stake in shares of ArcelorMittal during the 1st quarter valued at $184,000. Mount Yale Investment Advisors LLC bought a new stake in shares of ArcelorMittal during the 1st quarter valued at $185,000. LPL Financial LLC raised its position in shares of ArcelorMittal by 23.4% during the 1st quarter. LPL Financial LLC now owns 8,501 shares of the basic materials company’s stock valued at $270,000 after acquiring an additional 1,610 shares during the last quarter. Finally, Greenleaf Trust raised its position in shares of ArcelorMittal by 18.9% during the 2nd quarter. Greenleaf Trust now owns 9,882 shares of the basic materials company’s stock valued at $284,000 after acquiring an additional 1,572 shares during the last quarter. Institutional investors own 3.34% of the company’s stock.
ArcelorMittal Company Profile (NYSE:MT)
ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through NAFTA, Brazil, Europe, ACIS, and Mining segments. The company produces finished and semi-finished steel products with various specifications.
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