ArcelorMittal (NYSE:MT) Stock Rating Reaffirmed by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft reissued their hold rating on shares of ArcelorMittal (NYSE:MT) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $31.00 price target on the basic materials company’s stock, down from their previous price target of $34.00.

Separately, StockNews.com lowered ArcelorMittal from a buy rating to a hold rating in a research note on Monday, March 4th.

ArcelorMittal Stock Up 1.0 %

ArcelorMittal stock opened at $25.39 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.67 and a current ratio of 1.53. The firm has a market capitalization of $20.45 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 0.38 and a beta of 1.93. ArcelorMittal has a fifty-two week low of $21.30 and a fifty-two week high of $29.49. The stock’s fifty day moving average is $26.71 and its two-hundred day moving average is $25.88.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, February 8th. The basic materials company reported ($3.57) earnings per share for the quarter, missing the consensus estimate of ($2.08) by ($1.49). The firm had revenue of $14.55 billion during the quarter, compared to analyst estimates of $16.39 billion. ArcelorMittal had a net margin of 1.35% and a return on equity of 8.55%. The firm’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same period last year, the company posted $1.37 EPS. Analysts predict that ArcelorMittal will post 4.13 EPS for the current fiscal year.

ArcelorMittal Announces Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 17th will be paid a dividend of $0.213 per share. The ex-dividend date is Thursday, May 16th. ArcelorMittal’s payout ratio is currently 42.00%.

Hedge Funds Weigh In On ArcelorMittal

Large investors have recently added to or reduced their stakes in the business. Principal Securities Inc. purchased a new position in ArcelorMittal during the fourth quarter worth about $25,000. GAMMA Investing LLC purchased a new position in shares of ArcelorMittal in the 4th quarter worth about $30,000. EverSource Wealth Advisors LLC raised its holdings in shares of ArcelorMittal by 84.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,128 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 517 shares during the period. Blue Trust Inc. raised its holdings in shares of ArcelorMittal by 336.3% in the 4th quarter. Blue Trust Inc. now owns 1,309 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 1,009 shares during the period. Finally, Captrust Financial Advisors raised its holdings in shares of ArcelorMittal by 166.1% in the 1st quarter. Captrust Financial Advisors now owns 1,381 shares of the basic materials company’s stock worth $44,000 after purchasing an additional 862 shares during the period. 9.88% of the stock is currently owned by hedge funds and other institutional investors.

ArcelorMittal Company Profile

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers 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, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.