Investors Buy High Volume of Call Options on ArcelorMittal (NYSE:MT)

ArcelorMittal S.A. (NYSE:MT - Get Free Report) was the recipient of unusually large options trading activity on Friday. Investors acquired 4,829 call options on the stock. This is an increase of approximately 26% compared to the typical volume of 3,822 call options.

ArcelorMittal Stock Performance

Shares of MT traded down $0.20 during trading hours on Wednesday, reaching $26.71. 877,478 shares of the company traded hands, compared to its average volume of 1,869,691. The stock has a market capitalization of $21.88 billion, a P/E ratio of 16.19, a P/E/G ratio of 0.14 and a beta of 1.60. The company has a quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. The business has a fifty day moving average price of $29.06 and a 200-day moving average price of $26.00. ArcelorMittal has a 12-month low of $20.52 and a 12-month high of $34.90.

ArcelorMittal (NYSE:MT - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. Equities analysts anticipate that ArcelorMittal will post 3.72 EPS for the current fiscal year.

ArcelorMittal Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Thursday, November 13th will be given a dividend of $0.275 per share. This represents a yield of 1.5%. The ex-dividend date is Wednesday, November 12th. ArcelorMittal's dividend payout ratio is presently 27.88%.

Analyst Ratings Changes

Several research firms have issued reports on MT. Morgan Stanley lowered ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 14th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of ArcelorMittal in a research note on Monday. Jefferies Financial Group downgraded ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 price target on the stock. in a research report on Wednesday, March 26th. Finally, The Goldman Sachs Group raised ArcelorMittal from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $29.00 to $31.70 in a research report on Thursday, April 10th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $32.95.

Institutional Trading of ArcelorMittal

Several large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its holdings in shares of ArcelorMittal by 221.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company's stock worth $78,712,000 after purchasing an additional 2,344,020 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of ArcelorMittal by 3.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,029,028 shares of the basic materials company's stock valued at $70,061,000 after buying an additional 91,363 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of ArcelorMittal by 146.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,535,319 shares of the basic materials company's stock valued at $35,512,000 after buying an additional 912,984 shares during the period. Northern Trust Corp grew its holdings in ArcelorMittal by 31.7% during the fourth quarter. Northern Trust Corp now owns 1,153,924 shares of the basic materials company's stock worth $26,690,000 after acquiring an additional 277,891 shares during the period. Finally, Causeway Capital Management LLC raised its position in ArcelorMittal by 12.8% during the fourth quarter. Causeway Capital Management LLC now owns 1,067,400 shares of the basic materials company's stock valued at $24,689,000 after acquiring an additional 121,155 shares in the last quarter. 9.29% of the stock is owned by hedge funds and other institutional investors.

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.