ArcelorMittal S.A. (NYSE:MT) Receives $32.95 Average Price Target from Analysts

Shares of ArcelorMittal S.A. (NYSE:MT - Get Free Report) have been given an average rating of "Moderate Buy" by the seven analysts that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $32.95.

MT has been the topic of several research analyst reports. The Goldman Sachs Group upgraded shares of ArcelorMittal from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $29.00 to $31.70 in a report on Thursday, April 10th. Jefferies Financial Group cut shares of ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 price objective for the company. in a research report on Wednesday, March 26th. Morgan Stanley cut ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of ArcelorMittal in a research note on Monday.

Institutional Trading of ArcelorMittal

A number of large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in ArcelorMittal by 221.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company's stock worth $78,712,000 after acquiring an additional 2,344,020 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in ArcelorMittal by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,029,028 shares of the basic materials company's stock valued at $70,061,000 after buying an additional 91,363 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in ArcelorMittal by 146.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,535,319 shares of the basic materials company's stock worth $35,512,000 after buying an additional 912,984 shares during the last quarter. Northern Trust Corp boosted its position in shares of ArcelorMittal by 31.7% during the 4th quarter. Northern Trust Corp now owns 1,153,924 shares of the basic materials company's stock worth $26,690,000 after acquiring an additional 277,891 shares in the last quarter. Finally, Causeway Capital Management LLC increased its holdings in shares of ArcelorMittal by 12.8% in the 4th quarter. Causeway Capital Management LLC now owns 1,067,400 shares of the basic materials company's stock valued at $24,689,000 after acquiring an additional 121,155 shares during the last quarter. 9.29% of the stock is currently owned by hedge funds and other institutional investors.

ArcelorMittal Trading Up 1.1 %

Shares of MT traded up $0.30 during mid-day trading on Friday, reaching $27.22. The stock had a trading volume of 1,656,102 shares, compared to its average volume of 1,857,900. ArcelorMittal has a 52-week low of $20.52 and a 52-week high of $34.90. The firm has a market cap of $22.30 billion, a price-to-earnings ratio of 16.50, a P/E/G ratio of 0.14 and a beta of 1.60. The business's fifty day moving average is $29.03 and its 200 day moving average is $26.02. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59.

ArcelorMittal (NYSE:MT - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 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%. On average, sell-side analysts predict that ArcelorMittal will post 3.72 EPS for the current fiscal year.

ArcelorMittal Announces Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Thursday, November 13th will be given a $0.275 dividend. This represents a yield of 1.5%. The ex-dividend date is Wednesday, November 12th. ArcelorMittal's dividend payout ratio is currently 27.88%.

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.