ArcelorMittal (NYSE:MT) Trading 7.1% Higher - Still a Buy?

Shares of ArcelorMittal S.A. (NYSE:MT - Get Free Report) rose 7.1% during trading on Wednesday . The company traded as high as $32.39 and last traded at $32.40. Approximately 2,496,272 shares changed hands during trading, an increase of 47% from the average daily volume of 1,697,984 shares. The stock had previously closed at $30.26.

Analyst Ratings Changes

MT has been the topic of a number of recent research reports. Bank of America upgraded shares of ArcelorMittal from a "neutral" rating to a "buy" rating and upped their price target for the company from $30.00 to $32.90 in a research note on Thursday, November 14th. Morgan Stanley cut shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, ArcelorMittal currently has an average rating of "Moderate Buy" and an average target price of $31.17.

ArcelorMittal Stock Down 2.2 %

The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35. The firm has a market capitalization of $27.18 billion, a PE ratio of 20.11, a PEG ratio of 0.14 and a beta of 1.79. The company's 50 day simple moving average is $25.95 and its 200-day simple moving average is $24.86.

ArcelorMittal (NYSE:MT - Get Free Report) last posted its earnings results 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 return on equity of 4.31% and a net margin of 2.14%. On average, analysts forecast that ArcelorMittal S.A. will post 3.72 EPS for the current fiscal year.

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Institutional Trading of ArcelorMittal

Several institutional investors and hedge funds have recently bought and sold shares of MT. Geneos Wealth Management Inc. increased its holdings in shares of ArcelorMittal by 89.6% in the 4th 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 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company's stock worth $34,000 after buying an additional 595 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of ArcelorMittal by 76.2% in the 4th quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company's stock worth $113,000 after buying an additional 2,110 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of ArcelorMittal by 76.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company's stock worth $137,000 after buying an additional 2,586 shares during the last quarter. Finally, Callan Family Office LLC bought a new position in shares of ArcelorMittal in the 4th quarter worth $207,000. 9.29% of the stock is currently owned by hedge funds and other institutional investors.

About ArcelorMittal

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.