ArcelorMittal (NYSE:MT) Upgraded by Wall Street Zen to Buy Rating

Wall Street Zen upgraded shares of ArcelorMittal (NYSE:MT - Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday.

Several other equities research analysts have also recently commented on MT. The Goldman Sachs Group raised ArcelorMittal from a "neutral" rating to a "buy" rating and raised their target price for the stock from $29.00 to $31.70 in a research note on Thursday, April 10th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of ArcelorMittal in a report on Monday, April 14th. Finally, Jefferies Financial Group downgraded ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 target price for the company. in a research report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, ArcelorMittal has a consensus rating of "Moderate Buy" and an average target price of $32.95.

ArcelorMittal Price Performance

Shares of NYSE:MT traded down $0.65 during midday trading on Friday, reaching $33.22. The company's stock had a trading volume of 795,809 shares, compared to its average volume of 1,829,923. The business's fifty day simple moving average is $31.15 and its 200-day simple moving average is $28.67. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.35 and a quick ratio of 0.58. The company has a market capitalization of $27.22 billion, a P/E ratio of 21.73, a P/E/G ratio of 0.15 and a beta of 1.63. ArcelorMittal has a fifty-two week low of $20.52 and a fifty-two week high of $34.90.

ArcelorMittal (NYSE:MT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.33. ArcelorMittal had a return on equity of 4.11% and a net margin of 1.98%. The business had revenue of $14.80 billion for the quarter, compared to analyst estimates of $15.11 billion. During the same period in the previous year, the firm earned $1.16 EPS. The firm's revenue was down 9.1% compared to the same quarter last year. As a group, equities research analysts expect that ArcelorMittal will post 3.72 EPS for the current fiscal year.

ArcelorMittal Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were paid a $0.2338 dividend. The ex-dividend date was Friday, May 16th. This represents a dividend yield of 1.44%. ArcelorMittal's dividend payout ratio (DPR) is presently 30.07%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in ArcelorMittal by 24.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 67,562 shares of the basic materials company's stock worth $1,563,000 after buying an additional 13,141 shares in the last quarter. American Century Companies Inc. raised its stake in ArcelorMittal by 4.8% in the 4th quarter. American Century Companies Inc. now owns 280,838 shares of the basic materials company's stock worth $6,496,000 after purchasing an additional 12,929 shares in the last quarter. Vise Technologies Inc. acquired a new position in shares of ArcelorMittal in the 4th quarter valued at approximately $217,000. Natixis Advisors LLC lifted its position in shares of ArcelorMittal by 11.4% during the 4th quarter. Natixis Advisors LLC now owns 144,941 shares of the basic materials company's stock valued at $3,352,000 after acquiring an additional 14,841 shares during the period. Finally, Polar Asset Management Partners Inc. acquired a new position in shares of ArcelorMittal during the 4th quarter valued at $2,521,000. 9.29% of the stock is currently owned by institutional investors and hedge funds.

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.