ArcelorMittal (NYSE:MT) Shares Pass Above 200-Day Moving Average - Time to Sell?

Key Points

• Technical breakout: Shares recently passed above their 200-day moving average ($48.76), trading as high as $61.47 and last around $59.84, with the 50-day moving average near $58.04 indicating short-term momentum.
• Mixed analyst view: The consensus rating is a "Hold" with a target price of $60.73, though Jefferies upgraded MT to a "Buy" and raised its price target to $73.20 while several other firms remain positive or neutral.
• Fundamentals: Latest quarter showed an EPS beat ($0.86 vs. $0.56) but a slight revenue miss ($14.97B vs. $15.56B expected); market cap is ~$46.4B, P/E ~14.6, and the company pays an annualized dividend of $0.60 (≈1.0% yield).

Shares of ArcelorMittal (NYSE:MT - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $48.76 and traded as high as $61.47. ArcelorMittal shares last traded at $59.8380, with a volume of 1,416,311 shares.

Analysts Set New Price Targets

MT has been the topic of a number of research reports. KeyCorp initiated coverage on ArcelorMittal in a research note on Wednesday, March 25th. They issued a "sector weight" rating on the stock. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of ArcelorMittal in a research note on Friday, February 6th. Weiss Ratings restated a "hold (c)" rating on shares of ArcelorMittal in a research note on Wednesday, January 21st. Jefferies Financial Group upgraded ArcelorMittal from a "hold" rating to a "buy" rating and raised their price target for the stock from $51.10 to $73.20 in a research note on Wednesday, February 11th. Finally, Wells Fargo & Company restated a "positive" rating and issued a $60.00 price target (up from $54.00) on shares of ArcelorMittal in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, ArcelorMittal currently has an average rating of "Hold" and a consensus target price of $60.73.

ArcelorMittal Trading Down 2.8%

The stock has a fifty day moving average of $58.04 and a 200 day moving average of $48.76. The company has a market capitalization of $46.37 billion, a P/E ratio of 14.59, a PEG ratio of 0.55 and a beta of 1.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.53 and a current ratio of 1.36.

ArcelorMittal (NYSE:MT - Get Free Report) last announced its earnings results on Thursday, February 5th. The basic materials company reported $0.86 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.30. ArcelorMittal had a return on equity of 5.27% and a net margin of 5.14%.The company had revenue of $14.97 billion for the quarter, compared to analysts' expectations of $15.56 billion. During the same period last year, the firm earned $0.52 EPS. ArcelorMittal's revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, equities research analysts anticipate that ArcelorMittal will post 3.72 EPS for the current fiscal year.

ArcelorMittal Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Friday, November 13th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, November 13th. ArcelorMittal's dividend payout ratio (DPR) is currently 12.44%.

Hedge Funds Weigh In On ArcelorMittal

Institutional investors have recently bought and sold shares of the stock. True Wealth Design LLC raised its holdings in ArcelorMittal by 41.4% during the fourth quarter. True Wealth Design LLC now owns 799 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 234 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in ArcelorMittal during the fourth quarter valued at about $44,000. State of Wyoming bought a new stake in ArcelorMittal during the third quarter valued at about $36,000. Allworth Financial LP raised its holdings in ArcelorMittal by 91.5% during the fourth quarter. Allworth Financial LP now owns 1,126 shares of the basic materials company's stock valued at $51,000 after acquiring an additional 538 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in ArcelorMittal by 126.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,146 shares of the basic materials company's stock valued at $52,000 after acquiring an additional 640 shares during the period. 9.29% of the stock is owned by institutional investors.

ArcelorMittal Company Profile

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world's largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal's operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.

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