ArcelorMittal (NYSE:MT) Stock Short Interest Report for September

ArcelorMittal (NYSE:MT) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 931,170 shares, a decline of 44.0% from the September 15th total of 1,663,191 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily volume of 1,223,024 shares, the days-to-cover ratio is presently 0.8 days.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley assumed coverage on ArcelorMittal in a research report on Monday, August 24th. They issued an “overweight” rating and a $82.00 price target for the company. Weiss Ratings upgraded shares of ArcelorMittal from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft set a $79.00 price objective on shares of ArcelorMittal and gave the company a “buy” rating in a research report on Monday, October 5th. Barclays reissued a “neutral” rating on shares of ArcelorMittal in a research note on Tuesday, July 7th. Finally, JPMorgan Chase & Co. raised shares of ArcelorMittal from a “neutral” rating to an “overweight” rating in a research note on Thursday. 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, ArcelorMittal currently has an average rating of “Moderate Buy” and an average price target of $74.55.

ArcelorMittal Trading Down 1.0%

Shares of NYSE MT traded down $0.62 during midday trading on Friday, hitting $62.98. The company’s stock had a trading volume of 653,318 shares, compared to its average volume of 1,749,913. The firm has a market cap of $48.81 billion, a P/E ratio of 26.69, a price-to-earnings-growth ratio of 0.52 and a beta of 1.54. ArcelorMittal has a 12-month low of $36.70 and a 12-month high of $79.68. The company has a current ratio of 1.43, a quick ratio of 0.57 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $71.12 and its two-hundred day moving average is $66.34.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.28). ArcelorMittal had a return on equity of 4.20% and a net margin of 2.88%. The company had revenue of $16.76 billion during the quarter, compared to the consensus estimate of $17.56 billion. During the same quarter in the previous year, the company posted $1.32 earnings per share. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities research analysts expect that ArcelorMittal will post 4.03 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in ArcelorMittal by 0.4% during 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 purchasing an additional 11,503 shares in the last quarter. Maple Rock Capital Partners Inc. lifted its holdings in shares of ArcelorMittal by 54.9% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 2,190,860 shares of the basic materials company’s stock worth $131,934,000 after buying an additional 776,595 shares during the period. Quantinno Capital Management LP lifted its holdings 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 worth $17,461,000 after buying an additional 35,298 shares during the period. Amanah Holdings Trust bought a new position in shares of ArcelorMittal during the 4th quarter worth $6,744,000. Finally, Castle Hook Partners LP bought a new position in shares of ArcelorMittal during the 4th quarter worth $5,955,000. 9.29% of the stock is currently owned by hedge funds and other institutional investors.

ArcelorMittal Company Profile

ArcelorMittal is a global steel and mining company headquartered in Luxembourg. The company produces a broad range of steel products, including flat steel, long steel, tubular products and specialty grades used in automotive manufacturing, construction, appliances, energy, packaging and other industrial applications.

Its operations span major steel-producing and consuming regions, including Europe, North and South America, and Africa. In addition to steelmaking and processing, ArcelorMittal owns and operates mining assets that supply iron ore for its production activities.