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

ArcelorMittal S.A. (NYSE:MTGet Free Report) was the recipient of unusually large options trading activity on Friday. Investors purchased 4,076 call options on the company. This is an increase of 123% compared to the average volume of 1,824 call options.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised shares of ArcelorMittal from a “hold” rating to a “buy” rating and increased their price target for the stock from $29.00 to $31.00 in a report on Wednesday, August 28th. Bank of America raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and increased their price target for the stock from $30.00 to $32.90 in a report on Thursday, November 14th. JPMorgan Chase & Co. downgraded shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a report on Friday, October 11th. Finally, Barclays raised shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a report on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, ArcelorMittal currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.17.

Check Out Our Latest Analysis on ArcelorMittal

Institutional Investors Weigh In On ArcelorMittal

A number of hedge funds have recently modified their holdings of the business. Crossmark Global Holdings Inc. raised its position in shares of ArcelorMittal by 4.6% in the second quarter. Crossmark Global Holdings Inc. now owns 12,927 shares of the basic materials company’s stock valued at $296,000 after buying an additional 572 shares during the last quarter. Rhumbline Advisers increased its position in ArcelorMittal by 6.8% during the second quarter. Rhumbline Advisers now owns 9,633 shares of the basic materials company’s stock worth $221,000 after purchasing an additional 610 shares during the last quarter. Pzena Investment Management LLC increased its position in ArcelorMittal by 4.0% during the second quarter. Pzena Investment Management LLC now owns 25,085 shares of the basic materials company’s stock worth $575,000 after purchasing an additional 963 shares during the last quarter. Eagle Asset Management Inc. increased its position in ArcelorMittal by 11.2% during the third quarter. Eagle Asset Management Inc. now owns 16,008 shares of the basic materials company’s stock worth $418,000 after purchasing an additional 1,615 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in ArcelorMittal by 298.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock worth $54,000 after purchasing an additional 1,771 shares during the last quarter. 9.29% of the stock is currently owned by institutional investors and hedge funds.

ArcelorMittal Stock Performance

NYSE:MT opened at $24.71 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 1.46. The company has a fifty day moving average of $24.85 and a two-hundred day moving average of $23.94. The stock has a market capitalization of $19.90 billion, a PE ratio of -17.52, a P/E/G ratio of 0.64 and a beta of 1.74. ArcelorMittal has a fifty-two week low of $20.52 and a fifty-two week high of $29.01.

ArcelorMittal (NYSE:MTGet Free Report) last posted its quarterly earnings data on Thursday, November 7th. The basic materials company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.11 billion. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 earnings per share. As a group, research analysts forecast that ArcelorMittal will post 2.93 earnings per share for the current fiscal year.

ArcelorMittal Company Profile

(Get Free Report)

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.

Read More

Receive News & Ratings for ArcelorMittal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcelorMittal and related companies with MarketBeat.com's FREE daily email newsletter.