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ArcelorMittal S.A. (NYSE:MT - Get Rating) saw a large decrease in short interest in the month of July. As of July 31st, there was short interest totalling 3,510,000 shares, a decrease of 34.6% from the July 15th total of 5,370,000 shares. Based on an average daily volume of 3,580,000 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.4% of the company's stock are sold short. Hedge Funds Weigh In On ArcelorMittal
Institutional investors have recently made changes to their positions in the company. Captrust Financial Advisors boosted its holdings in ArcelorMittal by 166.1% in the first quarter. Captrust Financial Advisors now owns 1,381 shares of the basic materials company's stock worth $44,000 after acquiring an additional 862 shares in the last quarter. Prospera Financial Services Inc purchased a new position in ArcelorMittal during the first quarter valued at approximately $45,000. Elequin Capital LP purchased a new stake in shares of ArcelorMittal in the first quarter valued at approximately $79,000. Quadrant Capital Group LLC increased its position in shares of ArcelorMittal by 43.4% in the second quarter. Quadrant Capital Group LLC now owns 6,748 shares of the basic materials company's stock valued at $153,000 after buying an additional 2,041 shares in the last quarter. Finally, Pinnacle Private Wealth LLC acquired a new stake in shares of ArcelorMittal in the fourth quarter worth approximately $201,000. Hedge funds and other institutional investors own 41.79% of the company's stock. ArcelorMittal Trading Up 0.0 %
Shares of NYSE MT traded up $0.01 during mid-day trading on Friday, hitting $25.40. The stock had a trading volume of 1,803,831 shares, compared to its average volume of 2,669,221. The firm has a market cap of $23.82 billion, a P/E ratio of 1.53 and a beta of 1.95. The business has a 50 day moving average price of $24.61 and a two-hundred day moving average price of $28.72. ArcelorMittal has a 1 year low of $20.86 and a 1 year high of $37.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.68 and a current ratio of 1.58.
ArcelorMittal (NYSE:MT - Get Rating) last issued its earnings results on Wednesday, July 27th. The basic materials company reported $4.24 earnings per share for the quarter, topping analysts' consensus estimates of $4.19 by $0.05. The business had revenue of $22.14 billion during the quarter, compared to analyst estimates of $21.75 billion. ArcelorMittal had a return on equity of 31.17% and a net margin of 19.66%. ArcelorMittal's revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.46 EPS. On average, equities analysts anticipate that ArcelorMittal will post 12.41 EPS for the current fiscal year. Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft dropped their price target on ArcelorMittal from €38.00 ($38.78) to €37.00 ($37.76) in a research report on Monday, August 1st. UBS Group dropped their price target on shares of ArcelorMittal from €38.00 ($38.78) to €27.00 ($27.55) in a research note on Tuesday, July 26th. Morgan Stanley upped their price target on shares of ArcelorMittal from €46.00 ($46.94) to €46.10 ($47.04) and gave the company an "overweight" rating in a report on Thursday, June 23rd. JPMorgan Chase & Co. increased their price target on shares of ArcelorMittal from €30.50 ($31.12) to €31.00 ($31.63) in a research report on Monday, August 1st. Finally, StockNews.com cut shares of ArcelorMittal from a "strong-buy" rating to a "buy" rating in a research note on Friday, July 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, ArcelorMittal has an average rating of "Moderate Buy" and a consensus target price of $39.35.ArcelorMittal Company Profile (Get Rating)
ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in Europe, North and South America, Asia, and Africa. Its principal steel products include 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, which includes blooms and billets; finished long products, including bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.Read MoreGet a free copy of the StockNews.com research report on ArcelorMittal (MT)2 Important Retail Stock Battles to WatchMarketBeat: Week in Review 8/8 - 8/12What Is WallStreetBets and What Stocks Are They Targeting?Institutions And Analysts Propel Jack In The Box Higher Can You Guess Which EV Stock Is Beating Tesla ?
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