Investors Purchase Large Volume of ArcelorMittal Call Options (NYSE:MT)

ArcelorMittal S.A. (NYSE:MT - Get Free Report) was the recipient of some unusual options trading activity on Friday. Investors acquired 4,703 call options on the company. This represents an increase of approximately 70% compared to the average daily volume of 2,774 call options.

Wall Street Analyst Weigh In

MT has been the subject of a number of research reports. Morgan Stanley cut shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a report on Friday, February 14th. Bank of America upgraded shares of ArcelorMittal from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $30.00 to $32.90 in a report on Thursday, November 14th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $31.17.

ArcelorMittal Stock Up 2.6 %

NYSE MT traded up $0.77 on Tuesday, hitting $30.25. 5,659,473 shares of the stock were exchanged, compared to its average volume of 1,693,666. The company has a quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. ArcelorMittal has a fifty-two week low of $20.52 and a fifty-two week high of $30.92. The company has a market cap of $24.79 billion, a PE ratio of 18.34, a PEG ratio of 0.14 and a beta of 1.74. The company has a 50-day moving average price of $25.33 and a 200-day moving average price of $24.67.

ArcelorMittal (NYSE:MT - Get Free Report) last posted 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 return on equity of 4.31% and a net margin of 2.14%. Sell-side analysts anticipate that ArcelorMittal will post 3.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MT. Bank of New York Mellon Corp boosted its holdings in shares of ArcelorMittal by 221.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company's stock valued at $78,712,000 after buying an additional 2,344,020 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of ArcelorMittal by 146.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,535,319 shares of the basic materials company's stock valued at $35,512,000 after buying an additional 912,984 shares in the last quarter. ABC Arbitrage SA acquired a new position in shares of ArcelorMittal in the 4th quarter valued at $9,895,000. FMR LLC boosted its holdings in shares of ArcelorMittal by 46.7% in the 3rd quarter. FMR LLC now owns 1,317,833 shares of the basic materials company's stock valued at $34,606,000 after buying an additional 419,465 shares in the last quarter. Finally, OLD Mission Capital LLC boosted its holdings in shares of ArcelorMittal by 145.8% in the 4th quarter. OLD Mission Capital LLC now owns 678,350 shares of the basic materials company's stock valued at $15,690,000 after buying an additional 402,402 shares in the last quarter. Institutional investors and hedge funds own 9.29% of the company's stock.

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.