Polar Asset Management Partners Inc. Acquires Shares of 109,000 ArcelorMittal S.A. (NYSE:MT)

Polar Asset Management Partners Inc. bought a new position in shares of ArcelorMittal S.A. (NYSE:MT - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 109,000 shares of the basic materials company's stock, valued at approximately $2,521,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Geneos Wealth Management Inc. boosted its position in ArcelorMittal by 89.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company's stock valued at $26,000 after acquiring an additional 536 shares during the last quarter. BNP Paribas Financial Markets boosted its position in ArcelorMittal by 76.2% during the fourth quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company's stock valued at $113,000 after acquiring an additional 2,110 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in ArcelorMittal by 76.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company's stock valued at $137,000 after acquiring an additional 2,586 shares during the last quarter. Callan Family Office LLC bought a new stake in ArcelorMittal during the fourth quarter valued at $207,000. Finally, PNC Financial Services Group Inc. boosted its position in ArcelorMittal by 23.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,076 shares of the basic materials company's stock valued at $210,000 after acquiring an additional 1,702 shares during the last quarter. Institutional investors own 9.29% of the company's stock.

ArcelorMittal Stock Up 0.2%

Shares of MT traded up $0.06 on Friday, reaching $30.59. The company's stock had a trading volume of 1,181,347 shares, compared to its average volume of 1,888,814. The company has a current ratio of 1.35, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. ArcelorMittal S.A. has a twelve month low of $20.52 and a twelve month high of $34.90. The stock has a market capitalization of $25.06 billion, a PE ratio of 18.54, a PEG ratio of 0.14 and a beta of 1.62. The firm has a fifty day moving average of $28.93 and a 200-day moving average of $27.17.

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 net margin of 2.14% and a return on equity of 4.31%. The company had revenue of $14.80 billion for the quarter, compared to analyst estimates of $15.11 billion. During the same quarter in the prior year, the business posted $1.16 EPS. The firm's revenue was down 9.1% compared to the same quarter last year. Equities analysts predict that ArcelorMittal S.A. will post 3.72 EPS for the current year.

ArcelorMittal Cuts Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. The Goldman Sachs Group raised shares of ArcelorMittal from a "neutral" rating to a "buy" rating and upped their price target for the company from $29.00 to $31.70 in a research report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of ArcelorMittal in a report on Monday, April 14th. Morgan Stanley lowered shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a report on Friday, February 14th. Finally, Jefferies Financial Group lowered shares of ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 price objective on the stock. in a report on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $32.95.

ArcelorMittal 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.