ArcelorMittal (NYSE:MT) Hits New 1-Year High - Time to Buy?

ArcelorMittal S.A. (NYSE:MT - Get Free Report)'s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as $30.38 and last traded at $29.49, with a volume of 4527977 shares traded. The stock had previously closed at $27.74.

Analysts Set New Price Targets

MT has been the topic of several research analyst reports. Bank of America upgraded ArcelorMittal from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $30.00 to $32.90 in a report on Thursday, November 14th. Morgan Stanley downgraded shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, ArcelorMittal presently has an average rating of "Moderate Buy" and an average price target of $31.17.

ArcelorMittal Trading Up 2.8 %

The firm has a market cap of $28.38 billion, a PE ratio of 20.93, a P/E/G ratio of 0.14 and a beta of 1.74. The company has a current ratio of 1.35, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average price of $25.54 and a 200 day moving average price of $24.73.

ArcelorMittal (NYSE:MT - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. Analysts forecast that ArcelorMittal S.A. will post 3.72 EPS for the current year.

Institutional Investors Weigh In On ArcelorMittal

A number of institutional investors and hedge funds have recently made changes to their positions in MT. Geneos Wealth Management Inc. grew its holdings in shares of ArcelorMittal by 89.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company's stock worth $26,000 after buying an additional 536 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of ArcelorMittal by 68.5% in the fourth quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 595 shares during the period. US Bancorp DE raised its stake in shares of ArcelorMittal by 5.0% during the fourth quarter. US Bancorp DE now owns 15,085 shares of the basic materials company's stock worth $349,000 after purchasing an additional 717 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of ArcelorMittal by 9.1% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,545 shares of the basic materials company's stock worth $221,000 after purchasing an additional 797 shares during the period. Finally, United Capital Financial Advisors LLC grew its position in ArcelorMittal by 11.5% in the 4th quarter. United Capital Financial Advisors LLC now owns 10,940 shares of the basic materials company's stock valued at $253,000 after buying an additional 1,129 shares during the last quarter. 9.29% of the stock is 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.