Investors Buy Large Volume of ArcelorMittal Call Options (NYSE:MT)

ArcelorMittal SA (NYSE:MT) was the recipient of some unusual options trading activity on Tuesday. Investors purchased 59,575 call options on the stock. This represents an increase of 950% compared to the typical daily volume of 5,673 call options.

Shares of MT stock opened at $10.73 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.25 and a quick ratio of 0.50. The company has a market capitalization of $10.28 billion, a P/E ratio of -2.72 and a beta of 2.09. The company’s 50-day simple moving average is $10.03 and its two-hundred day simple moving average is $12.75. ArcelorMittal has a one year low of $6.64 and a one year high of $18.89.

ArcelorMittal (NYSE:MT) last issued its earnings results on Thursday, May 7th. The basic materials company reported ($0.56) EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.61). ArcelorMittal had a negative return on equity of 2.12% and a negative net margin of 6.02%. The company had revenue of $14.84 billion during the quarter, compared to the consensus estimate of $15.75 billion. During the same quarter in the prior year, the company earned $0.52 earnings per share. ArcelorMittal’s revenue was down 22.6% on a year-over-year basis. On average, research analysts expect that ArcelorMittal will post -1.68 EPS for the current fiscal year.

Several equities analysts recently commented on the stock. Societe Generale upgraded shares of ArcelorMittal from a “sell” rating to a “hold” rating in a report on Monday, June 22nd. ValuEngine upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating in a report on Thursday, April 9th. TheStreet downgraded shares of ArcelorMittal from a “c-” rating to a “d+” rating in a report on Thursday, April 2nd. Deutsche Bank reiterated a “buy” rating on shares of ArcelorMittal in a report on Wednesday, May 13th. Finally, Independent Research upgraded shares of ArcelorMittal to a “buy” rating and set a $11.00 price target on the stock in a report on Tuesday, May 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. ArcelorMittal currently has an average rating of “Buy” and a consensus target price of $17.40.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MT. Tower Research Capital LLC TRC bought a new position in shares of ArcelorMittal during the fourth quarter valued at approximately $48,000. Invesco Ltd. boosted its stake in shares of ArcelorMittal by 17.5% during the first quarter. Invesco Ltd. now owns 13,934 shares of the basic materials company’s stock valued at $130,000 after purchasing an additional 2,079 shares in the last quarter. Wetherby Asset Management Inc. boosted its stake in shares of ArcelorMittal by 12.7% during the first quarter. Wetherby Asset Management Inc. now owns 16,839 shares of the basic materials company’s stock valued at $157,000 after purchasing an additional 1,903 shares in the last quarter. Atlas Capital Advisors LLC boosted its stake in shares of ArcelorMittal by 2,806.7% during the first quarter. Atlas Capital Advisors LLC now owns 18,341 shares of the basic materials company’s stock valued at $171,000 after purchasing an additional 17,710 shares in the last quarter. Finally, GWM Advisors LLC bought a new position in shares of ArcelorMittal during the first quarter valued at approximately $187,000. Hedge funds and other institutional investors own 3.13% of the company’s stock.

ArcelorMittal Company Profile

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 five segments: NAFTA, Brazil, Europe, ACIS, and Mining. The company produces finished and semi-finished steel products with various specifications.

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