ArcelorMittal (NYSE:MT) Shares Gap Down – Time to Sell?

ArcelorMittal S.A. (NYSE:MT)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $33.06, but opened at $31.70. ArcelorMittal shares last traded at $31.97, with a volume of 248,483 shares changing hands.

Wall Street Analyst Weigh In

Separately, Morgan Stanley downgraded shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.17.

ArcelorMittal Price Performance

The firm has a market cap of $26.19 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 0.14 and a beta of 1.79. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59. The firm’s 50 day moving average is $27.44 and its 200 day moving average is $25.35.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). ArcelorMittal had a return on equity of 4.31% and a net margin of 2.14%. As a group, analysts anticipate that ArcelorMittal S.A. will post 3.72 earnings per share for the current year.

ArcelorMittal Announces Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, December 3rd. Investors of record on Thursday, November 13th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a yield of 1.5%. ArcelorMittal’s dividend payout ratio (DPR) is presently 25.45%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. boosted its position in shares of ArcelorMittal by 89.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock valued at $26,000 after buying an additional 536 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of ArcelorMittal by 68.5% in the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 595 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in ArcelorMittal by 76.2% in the 4th quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 2,110 shares during the period. Smartleaf Asset Management LLC lifted its position in ArcelorMittal by 76.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company’s stock valued at $137,000 after purchasing an additional 2,586 shares in the last quarter. Finally, Callan Family Office LLC purchased a new stake in ArcelorMittal in the fourth quarter worth about $207,000. Hedge funds and other institutional investors own 9.29% of the company’s stock.

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.