Stock Traders Purchase Large Volume of Call Options on ArcelorMittal (NYSE:MT)

ArcelorMittal S.A. (NYSE:MT - Get Free Report) was the target of some unusual options trading activity on Friday. Investors acquired 4,829 call options on the company. This represents an increase of 26% compared to the average daily volume of 3,822 call options.

Institutional Investors Weigh In On ArcelorMittal

Large investors have recently modified their holdings of the company. Geneos Wealth Management Inc. raised its position in ArcelorMittal by 89.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company's stock valued at $26,000 after purchasing an additional 536 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of ArcelorMittal by 68.5% in the fourth quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company's stock valued at $34,000 after buying an additional 595 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of ArcelorMittal by 76.2% during the fourth 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 period. Smartleaf Asset Management LLC increased its position in 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 acquiring an additional 2,586 shares during the period. Finally, Callan Family Office LLC acquired a new position in ArcelorMittal in the 4th quarter valued at $207,000. 9.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MT. 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. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of ArcelorMittal in a report on Monday. Morgan Stanley downgraded ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 14th. Finally, The Goldman Sachs Group raised shares of ArcelorMittal from a "neutral" rating to a "buy" rating and raised their price objective for the company from $29.00 to $31.70 in a research note on Thursday, April 10th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ArcelorMittal currently has an average rating of "Moderate Buy" and a consensus target price of $32.95.

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ArcelorMittal Stock Up 0.7 %

Shares of MT stock traded up $0.18 on Tuesday, reaching $26.91. 1,245,970 shares of the stock were exchanged, compared to its average volume of 1,871,874. The company has a market capitalization of $22.05 billion, a price-to-earnings ratio of 16.31, a PEG ratio of 0.14 and a beta of 1.60. The company has a current ratio of 1.35, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. The business's 50 day moving average price is $29.09 and its 200 day moving average price is $26.00. ArcelorMittal has a twelve month low of $20.52 and a twelve 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 for the quarter, missing analysts' consensus estimates 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, sell-side analysts expect that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Thursday, November 13th will be issued a $0.275 dividend. This represents a dividend yield of 1.5%. The ex-dividend date is Wednesday, November 12th. ArcelorMittal's 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.