ArcelorMittal (NYSE:MT) Reaches New 12-Month High - Time to Buy?

Key Points

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Shares of ArcelorMittal (NYSE:MT - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $35.05 and last traded at $34.90, with a volume of 123042 shares traded. The stock had previously closed at $34.42.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MT shares. Wall Street Zen lowered ArcelorMittal from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Barclays cut ArcelorMittal from an "overweight" rating to an "equal weight" rating in a report on Wednesday, July 16th. Finally, Wells Fargo & Company raised ArcelorMittal to a "hold" rating in a report on Thursday, August 14th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $32.96.

ArcelorMittal Stock Performance

The company has a quick ratio of 0.59, a current ratio of 1.40 and a debt-to-equity ratio of 0.19. The company's 50-day moving average is $32.59 and its two-hundred day moving average is $30.57. The company has a market capitalization of $27.85 billion, a P/E ratio of 10.49, a PEG ratio of 0.15 and a beta of 1.65.

ArcelorMittal (NYSE:MT - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.01). The company had revenue of $15.93 billion during the quarter, compared to the consensus estimate of $15.48 billion. ArcelorMittal had a return on equity of 4.99% and a net margin of 4.11%.The firm's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the company posted $0.63 earnings per share. Equities analysts anticipate that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC grew its position in ArcelorMittal by 4.5% during the second quarter. Janney Montgomery Scott LLC now owns 7,359 shares of the basic materials company's stock valued at $232,000 after acquiring an additional 318 shares during the last quarter. Hexagon Capital Partners LLC grew its position in ArcelorMittal by 25.4% during the first quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company's stock valued at $51,000 after acquiring an additional 360 shares during the last quarter. PNC Financial Services Group Inc. grew its position in ArcelorMittal by 4.0% during the first quarter. PNC Financial Services Group Inc. now owns 9,438 shares of the basic materials company's stock valued at $272,000 after acquiring an additional 362 shares during the last quarter. Evergreen Capital Management LLC grew its position in ArcelorMittal by 3.0% during the first quarter. Evergreen Capital Management LLC now owns 14,097 shares of the basic materials company's stock valued at $407,000 after acquiring an additional 405 shares during the last quarter. Finally, US Bancorp DE grew its position in ArcelorMittal by 2.7% during the first quarter. US Bancorp DE now owns 15,496 shares of the basic materials company's stock valued at $447,000 after acquiring an additional 411 shares during the last quarter. 9.29% of the stock is currently owned by institutional investors.

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.