ArcelorMittal (NYSE:MT) Cut to Hold at Jefferies Financial Group

ArcelorMittal (NYSE:MT - Get Free Report) was downgraded by equities researchers at Jefferies Financial Group from a "buy" rating to a "hold" rating in a report issued on Wednesday, MarketBeat Ratings reports. They currently have a $36.20 target price on the basic materials company's stock. Jefferies Financial Group's price target would indicate a potential upside of 25.67% from the company's previous close.

Separately, Morgan Stanley cut shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $32.43.

ArcelorMittal Stock Down 3.1 %

Shares of ArcelorMittal stock traded down $0.92 during trading on Wednesday, hitting $28.81. 2,800,017 shares of the stock were exchanged, compared to its average volume of 1,813,088. The stock has a market cap of $23.60 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 0.14 and a beta of 1.79. The firm's 50-day moving average price is $28.60 and its 200 day moving average price is $25.77. 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 has a 12-month low of $20.52 and a 12-month high of $34.90.

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 return on equity of 4.31% and a net margin of 2.14%. As a group, analysts forecast that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

Institutional Trading of ArcelorMittal

Several institutional investors and hedge funds have recently bought and sold shares of the business. Geneos Wealth Management Inc. raised its holdings in shares of ArcelorMittal by 89.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company's stock valued at $26,000 after buying an additional 536 shares during the last quarter. GAMMA Investing LLC raised its stake in ArcelorMittal by 68.5% during the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 595 shares during the last quarter. BNP Paribas Financial Markets lifted its position in ArcelorMittal by 76.2% during the 4th quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company's stock worth $113,000 after acquiring an additional 2,110 shares during the period. Smartleaf Asset Management LLC grew its stake 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 valued at $137,000 after purchasing an additional 2,586 shares during the last quarter. Finally, Callan Family Office LLC acquired a new position in shares of ArcelorMittal in the fourth quarter valued at approximately $207,000. Hedge funds and other institutional investors own 9.29% of the company's stock.

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.