ArcelorMittal Target of Unusually Large Options Trading (NYSE:MT)

ArcelorMittal S.A. (NYSE:MT - Get Free Report) saw some unusual options trading on Friday. Stock traders bought 4,076 call options on the stock. This is an increase of 123% compared to the typical daily volume of 1,824 call options.

Institutional Investors Weigh In On ArcelorMittal

Institutional investors have recently modified their holdings of the stock. CWM LLC raised its position in shares of ArcelorMittal by 378.2% during the 2nd quarter. CWM LLC now owns 4,930 shares of the basic materials company's stock valued at $113,000 after acquiring an additional 3,899 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of ArcelorMittal in the 2nd quarter worth about $156,000. Blue Trust Inc. lifted its position in shares of ArcelorMittal by 1,820.0% in the 2nd quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company's stock worth $46,000 after buying an additional 1,911 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of ArcelorMittal by 32.7% in the 2nd quarter. Raymond James & Associates now owns 58,194 shares of the basic materials company's stock valued at $1,334,000 after buying an additional 14,338 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of ArcelorMittal by 2,038.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 822,426 shares of the basic materials company's stock valued at $18,858,000 after buying an additional 783,965 shares during the last quarter. Institutional investors and hedge funds own 9.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MT. Deutsche Bank Aktiengesellschaft upgraded ArcelorMittal from a "hold" rating to a "buy" rating and upped their price target for the stock from $29.00 to $31.00 in a report on Wednesday, August 28th. Barclays upgraded shares of ArcelorMittal from an "equal weight" rating to an "overweight" rating in a research note on Monday, August 19th. JPMorgan Chase & Co. lowered shares of ArcelorMittal from an "overweight" rating to a "neutral" rating in a report on Friday, October 11th. Finally, Bank of America upgraded shares of ArcelorMittal from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $30.00 to $32.90 in a report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, ArcelorMittal has an average rating of "Moderate Buy" and an average target price of $31.17.

ArcelorMittal Stock Down 2.6 %

Shares of MT traded down $0.65 during trading on Friday, reaching $24.71. The company's stock had a trading volume of 2,320,590 shares, compared to its average volume of 1,600,771. The company has a market cap of $19.90 billion, a price-to-earnings ratio of -17.52, a P/E/G ratio of 0.64 and a beta of 1.74. The company has a quick ratio of 0.59, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The company has a fifty day moving average of $24.85 and a two-hundred day moving average of $23.95. ArcelorMittal has a twelve month low of $20.52 and a twelve month high of $29.01.

ArcelorMittal (NYSE:MT - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The firm had revenue of $15.20 billion for the quarter, compared to analysts' expectations of $15.11 billion. During the same period in the prior year, the company posted $1.10 earnings per share. The firm's quarterly revenue was down 8.5% on a year-over-year basis. On average, sell-side analysts predict that ArcelorMittal will post 2.93 EPS for the current fiscal year.

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.