Credit Suisse Group restated their neutral rating on shares of ArcelorMittal (NYSE:MT) in a report released on Monday morning, Price Targets.com reports.
MT has been the subject of several other reports. Deutsche Bank Aktiengesellschaft reissued a buy rating on shares of ArcelorMittal in a report on Friday, May 7th. Morgan Stanley reissued an overweight rating on shares of ArcelorMittal in a report on Friday, May 21st. KeyCorp increased their price objective on ArcelorMittal from $33.00 to $37.00 and gave the company an overweight rating in a report on Monday, May 10th. UBS Group reissued a buy rating on shares of ArcelorMittal in a report on Wednesday, June 2nd. Finally, TheStreet upgraded ArcelorMittal from a c rating to a b- rating in a research report on Wednesday, June 2nd. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $28.00.
MT stock opened at $32.59 on Monday. The company has a market capitalization of $32.98 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 2.61 and a beta of 2.08. The company has a current ratio of 1.27, a quick ratio of 0.72 and a debt-to-equity ratio of 0.20. The firm has a 50 day simple moving average of $31.11. ArcelorMittal has a 12-month low of $9.92 and a 12-month high of $33.96.
The business also recently announced an annual dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Friday, June 11th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, June 10th. This represents a dividend yield of 0.92%.
Hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. purchased a new stake in shares of ArcelorMittal in the first quarter worth $30,000. Assetmark Inc. purchased a new stake in shares of ArcelorMittal in the fourth quarter worth $25,000. Freedman Financial Associates Inc. bought a new position in ArcelorMittal in the fourth quarter valued at $31,000. Ameritas Investment Company LLC bought a new position in ArcelorMittal in the first quarter valued at $54,000. Finally, Steward Partners Investment Advisory LLC bought a new position in ArcelorMittal in the fourth quarter valued at $50,000. Institutional investors own 6.02% of the company’s stock.
ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. The company's principal steel products include semi-finished flat products, such as 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, such as 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.
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