ArcelorMittal (NYSE:MT) Stock Crosses Above 200-Day Moving Average - Should You Sell?

ArcelorMittal (NYSE:MT - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $63.99 and traded as high as $64.51. ArcelorMittal shares last traded at $64.1880, with a volume of 1,250,458 shares traded.

Wall Street Analyst Weigh In

MT has been the subject of several analyst reports. Wells Fargo & Company cut their price target on ArcelorMittal from $69.00 to $64.00 and set an "equal weight" rating on the stock in a report on Tuesday, October 6th. Morgan Stanley initiated coverage on ArcelorMittal in a research note on Monday, August 24th. They issued an "overweight" rating and a $82.00 price objective for the company. Deutsche Bank Aktiengesellschaft set a $79.00 price objective on ArcelorMittal and gave the company a "buy" rating in a research note on Monday, October 5th. Weiss Ratings downgraded ArcelorMittal from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, October 29th. Finally, UBS Group upgraded shares of ArcelorMittal from a "neutral" rating to a "buy" rating in a research note on Friday, October 9th. Eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $74.55.

ArcelorMittal Stock Up 5.3%

The firm has a 50-day moving average price of $67.12 and a two-hundred day moving average price of $63.99. The firm has a market cap of $49.75 billion, a price-to-earnings ratio of 47.55, a price-to-earnings-growth ratio of 0.58 and a beta of 1.55. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.57 and a current ratio of 1.43.

ArcelorMittal (NYSE:MT - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The basic materials company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.80 by $0.35. ArcelorMittal had a net margin of 2.88% and a return on equity of 4.20%. The company had revenue of $16.47 billion for the quarter, compared to analyst estimates of $17.77 billion. During the same period in the prior year, the firm posted $0.62 earnings per share. The firm's revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts forecast that ArcelorMittal will post 3.25 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its position in ArcelorMittal by 0.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,232,495 shares of the basic materials company's stock valued at $168,008,000 after acquiring an additional 11,503 shares during the period. Maple Rock Capital Partners Inc. increased its position in shares of ArcelorMittal by 54.9% in the second quarter. Maple Rock Capital Partners Inc. now owns 2,190,860 shares of the basic materials company's stock worth $131,934,000 after acquiring an additional 776,595 shares in the last quarter. Quantinno Capital Management LP raised its stake in shares of ArcelorMittal by 11.7% in the 1st quarter. Quantinno Capital Management LP now owns 335,931 shares of the basic materials company's stock valued at $17,461,000 after acquiring an additional 35,298 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of ArcelorMittal by 1,317.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 75,105 shares of the basic materials company's stock valued at $3,904,000 after acquiring an additional 69,805 shares in the last quarter. Finally, ABC Arbitrage SA purchased a new stake in shares of ArcelorMittal in the first quarter worth about $3,819,000. 9.29% of the stock is owned by hedge funds and other institutional investors.

About ArcelorMittal

ArcelorMittal is a global steel and mining company that produces steel products for customers across industries including automotive, construction, energy, appliances and packaging. Its offerings include flat and long steel products, as well as iron ore and metallurgical coal used in steelmaking.

The company operates across the Americas, Europe and other regions, combining mining and steelmaking activities with research and product development. ArcelorMittal was formed in 2006 through the merger of Arcelor and Mittal Steel.

Aditya Mittal is the company's chief executive officer, and Lakshmi N.

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