ArcelorMittal (NYSE:MT) Downgraded by Jefferies Financial Group to “Hold”

ArcelorMittal (NYSE:MT) was downgraded by analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Finviz reports.

Separately, Morgan Stanley lowered shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, ArcelorMittal currently has an average rating of “Hold” and a consensus price target of $31.17.

ArcelorMittal Trading Down 0.8 %

Shares of MT stock opened at $31.55 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. The firm has a market cap of $25.85 billion, a P/E ratio of 19.12, a PEG ratio of 0.14 and a beta of 1.79. The company has a 50 day moving average of $28.21 and a 200-day moving average of $25.63. ArcelorMittal has a 12-month low of $20.52 and a 12-month high of $34.90.

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

Hedge Funds Weigh In On ArcelorMittal

A number of hedge funds and other institutional investors have recently bought and sold shares of MT. Bank of New York Mellon Corp increased its stake in ArcelorMittal by 221.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company’s stock valued at $78,712,000 after acquiring an additional 2,344,020 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of ArcelorMittal by 3.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,029,028 shares of the basic materials company’s stock valued at $70,061,000 after purchasing an additional 91,363 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of ArcelorMittal by 146.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,535,319 shares of the basic materials company’s stock valued at $35,512,000 after buying an additional 912,984 shares in the last quarter. FMR LLC lifted its position in ArcelorMittal by 46.7% in the 3rd quarter. FMR LLC now owns 1,317,833 shares of the basic materials company’s stock worth $34,606,000 after buying an additional 419,465 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in ArcelorMittal by 31.7% in the fourth quarter. Northern Trust Corp now owns 1,153,924 shares of the basic materials company’s stock worth $26,690,000 after buying an additional 277,891 shares in the last quarter. Hedge funds and other institutional investors own 9.29% of the company’s stock.

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.