ArcelorMittal (NYSE:MT) Shares Down 2.6%

Shares of ArcelorMittal S.A. (NYSE:MT - Get Free Report) dropped 2.6% on Tuesday . The stock traded as low as $25.15 and last traded at $25.15. Approximately 273,671 shares were traded during trading, a decline of 82% from the average daily volume of 1,559,169 shares. The stock had previously closed at $25.81.

Analysts Set New Price Targets

A number of brokerages have recently commented on MT. StockNews.com lowered ArcelorMittal from a "buy" rating to a "hold" rating in a report on Monday, March 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $31.00 target price (down previously from $34.00) on shares of ArcelorMittal in a research report on Tuesday, April 16th.

ArcelorMittal Trading Down 2.4 %

The business has a 50-day simple moving average of $26.66 and a two-hundred day simple moving average of $25.93. The stock has a market cap of $20.29 billion, a price-to-earnings ratio of 25.20, a P/E/G ratio of 0.39 and a beta of 1.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.53 and a quick ratio of 0.67.

ArcelorMittal (NYSE:MT - Get Free Report) last posted its earnings results on Thursday, February 8th. The basic materials company reported ($3.57) EPS for the quarter, missing the consensus estimate of ($2.08) by ($1.49). ArcelorMittal had a net margin of 1.35% and a return on equity of 8.55%. The firm had revenue of $14.55 billion during the quarter, compared to analyst estimates of $16.39 billion. During the same period in the previous year, the company posted $1.37 EPS. ArcelorMittal's revenue for the quarter was down 13.8% compared to the same quarter last year. Equities analysts forecast that ArcelorMittal S.A. will post 4.13 EPS for the current fiscal year.

ArcelorMittal Dividend Announcement

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 17th will be paid a $0.213 dividend. The ex-dividend date is Thursday, May 16th. ArcelorMittal's dividend payout ratio (DPR) is currently 37.00%.

Institutional Investors Weigh In On ArcelorMittal

Several institutional investors have recently made changes to their positions in the stock. First Trust Direct Indexing L.P. boosted its stake in shares of ArcelorMittal by 7.2% in the first quarter. First Trust Direct Indexing L.P. now owns 12,471 shares of the basic materials company's stock valued at $344,000 after buying an additional 843 shares during the period. Trust Co. of Toledo NA OH lifted its stake in ArcelorMittal by 4.5% during the first quarter. Trust Co. of Toledo NA OH now owns 24,740 shares of the basic materials company's stock worth $682,000 after purchasing an additional 1,072 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in ArcelorMittal by 24.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 4,115 shares of the basic materials company's stock worth $117,000 after purchasing an additional 818 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in ArcelorMittal by 8.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 839,485 shares of the basic materials company's stock worth $23,833,000 after purchasing an additional 66,813 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in ArcelorMittal by 20.5% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 131,100 shares of the basic materials company's stock worth $3,722,000 after purchasing an additional 22,300 shares during the last quarter. 9.88% 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.