Jefferies Financial Group Downgrades ArcelorMittal (NYSE:MT) to Hold

ArcelorMittal (NYSE:MT) was downgraded by Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Marketbeat reports. They presently have a $36.20 price target on the basic materials company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 21.70% from the stock’s current price.

Separately, Morgan Stanley downgraded 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 given a buy rating to the company’s stock. According to data from MarketBeat, ArcelorMittal has a consensus rating of “Hold” and a consensus price target of $32.43.

ArcelorMittal Trading Down 3.3 %

NYSE:MT opened at $29.75 on Wednesday. ArcelorMittal has a one year low of $20.52 and a one year high of $34.90. The business has a fifty day moving average price of $28.49 and a 200-day moving average price of $25.70. The firm has a market capitalization of $24.37 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 0.14 and a beta of 1.79. 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) last issued its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 EPS 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%. Sell-side analysts forecast that ArcelorMittal will post 3.72 EPS for the current year.

Institutional Trading of ArcelorMittal

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MT. Wealth Enhancement Advisory Services LLC boosted its position in ArcelorMittal by 5.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 25,690 shares of the basic materials company’s stock valued at $594,000 after buying an additional 1,224 shares during the period. Polar Asset Management Partners Inc. bought a new position in ArcelorMittal during the 4th quarter worth about $2,521,000. Vise Technologies Inc. bought a new position in shares of ArcelorMittal during the fourth quarter valued at approximately $217,000. Quantinno Capital Management LP raised its stake in ArcelorMittal by 26.5% in the fourth quarter. Quantinno Capital Management LP now owns 144,604 shares of the basic materials company’s stock worth $3,345,000 after buying an additional 30,280 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in ArcelorMittal during the 4th quarter valued at $1,055,000. 9.29% of the stock is owned by hedge funds and other institutional investors.

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.