ArcelorMittal (NYSE:MT) Shares Gap Down to $26.95

ArcelorMittal S.A. (NYSE:MT) gapped down before the market opened on Tuesday . The stock had previously closed at $26.95, but opened at $25.35. ArcelorMittal shares last traded at $25.21, with a volume of 976,179 shares trading hands.

Wall Street Analysts Forecast Growth

MT has been the topic of several research reports. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $31.00 price objective (down previously from $34.00) on shares of ArcelorMittal in a research note on Tuesday. StockNews.com cut ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Monday, March 4th.

ArcelorMittal Price Performance

The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $26.85 and a two-hundred day moving average price of $25.88. The firm has a market capitalization of $20.22 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 0.34 and a beta of 1.93.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, February 8th. The basic materials company reported ($3.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.08) by ($1.49). The company had revenue of $14.55 billion for the quarter, compared to analyst estimates of $16.39 billion. ArcelorMittal had a return on equity of 8.55% and a net margin of 1.35%. The firm’s revenue for the quarter was down 13.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 earnings per share. As a group, research analysts forecast that ArcelorMittal S.A. will post 4.37 EPS for the current year.

ArcelorMittal Announces Dividend

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

Hedge Funds Weigh In On ArcelorMittal

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Trust Co. of Toledo NA OH grew its holdings in ArcelorMittal by 4.5% in the 1st quarter. Trust Co. of Toledo NA OH now owns 24,740 shares of the basic materials company’s stock worth $682,000 after buying an additional 1,072 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in ArcelorMittal by 24.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,115 shares of the basic materials company’s stock worth $117,000 after buying an additional 818 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in ArcelorMittal by 8.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 839,485 shares of the basic materials company’s stock worth $23,833,000 after buying an additional 66,813 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in ArcelorMittal by 20.5% in the 4th 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 buying an additional 22,300 shares in the last quarter. Finally, DRW Securities LLC grew its holdings in ArcelorMittal by 39.0% in the 4th quarter. DRW Securities LLC now owns 12,241 shares of the basic materials company’s stock worth $348,000 after buying an additional 3,435 shares in the last quarter. 9.88% of the stock is 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.