Short Interest in ArcelorMittal S.A. (NYSE:MT) Drops By 25.0%

ArcelorMittal S.A. (NYSE:MT) was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 4,110,000 shares, a decrease of 25.0% from the January 15th total of 5,480,000 shares. Based on an average daily volume of 1,780,000 shares, the short-interest ratio is currently 2.3 days. Approximately 0.5% of the shares of the stock are short sold.

ArcelorMittal Stock Down 0.5 %

Shares of ArcelorMittal stock traded down $0.13 on Friday, reaching $28.58. 1,547,140 shares of the company were exchanged, compared to its average volume of 2,024,448. The stock’s 50 day moving average price is $24.33 and its 200-day moving average price is $24.08. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.59. The company has a market cap of $23.41 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 0.56 and a beta of 1.74. ArcelorMittal has a 1-year low of $20.52 and a 1-year high of $29.38.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.24%. As a group, equities analysts forecast that ArcelorMittal will post 3.6 EPS for the current year.

Hedge Funds Weigh In On ArcelorMittal

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. boosted its stake 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 acquiring an additional 536 shares during the last quarter. GAMMA Investing LLC raised its position in shares of ArcelorMittal by 68.5% during the fourth 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 during the period. US Bancorp DE lifted its position in shares of ArcelorMittal by 5.0% during the 4th quarter. US Bancorp DE now owns 15,085 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 717 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in shares of ArcelorMittal by 9.1% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,545 shares of the basic materials company’s stock worth $221,000 after purchasing an additional 797 shares during the last quarter. Finally, United Capital Financial Advisors LLC grew its holdings in shares of ArcelorMittal by 11.5% during the 4th quarter. United Capital Financial Advisors LLC now owns 10,940 shares of the basic materials company’s stock worth $253,000 after purchasing an additional 1,129 shares in the last quarter. 9.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on MT shares. Bank of America raised ArcelorMittal from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $30.00 to $32.90 in a report on Thursday, November 14th. Morgan Stanley downgraded ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $31.17.

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.