ArcelorMittal (MT) to Issue Quarterly Dividend of $0.15 on December 2nd

ArcelorMittal (NYSE:MT) declared a quarterly dividend on Friday, February 13th. Shareholders of record on Friday, November 13th will be given a dividend of $0.15 per share by the basic materials company on Wednesday, December 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, November 13th.

ArcelorMittal has a payout ratio of 10.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect ArcelorMittal to earn $7.01 per share next year, which means the company should continue to be able to cover its $0.51 annual dividend with an expected future payout ratio of 7.3%.

ArcelorMittal Trading Down 0.1%

Shares of MT stock opened at $65.62 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 1.41 and a debt-to-equity ratio of 0.21. The firm has a market cap of $50.85 billion, a P/E ratio of 48.61, a PEG ratio of 0.76 and a beta of 1.55. The company has a 50 day moving average of $66.94 and a 200-day moving average of $64.06. ArcelorMittal has a 12-month low of $38.67 and a 12-month high of $79.68.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, November 5th. The basic materials company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.80 by $0.35. ArcelorMittal had a return on equity of 4.89% and a net margin of 1.64%. The business had revenue of $16.47 billion for the quarter, compared to the consensus estimate of $17.77 billion. During the same quarter in the prior year, the business earned $0.62 earnings per share. ArcelorMittal’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts anticipate that ArcelorMittal will post 3.07 earnings per share for the current year.

Institutional Trading of ArcelorMittal

A number of hedge funds and other institutional investors have recently made changes to their positions in MT. Maple Rock Capital Partners Inc. increased its position in shares of ArcelorMittal by 54.9% during the second quarter. Maple Rock Capital Partners Inc. now owns 2,190,860 shares of the basic materials company’s stock valued at $131,934,000 after buying an additional 776,595 shares during the period. TD Waterhouse Canada Inc. lifted its holdings in shares of ArcelorMittal by 822.3% in the second quarter. TD Waterhouse Canada Inc. now owns 16,491 shares of the basic materials company’s stock worth $978,000 after buying an additional 14,703 shares in the last quarter. First Trust Advisors LP boosted its position in shares of ArcelorMittal by 275.8% in the first quarter. First Trust Advisors LP now owns 55,311 shares of the basic materials company’s stock valued at $2,875,000 after acquiring an additional 40,593 shares during the period. Quantinno Capital Management LP boosted its position in shares of ArcelorMittal by 11.7% in the first quarter. Quantinno Capital Management LP now owns 335,931 shares of the basic materials company’s stock valued at $17,461,000 after acquiring an additional 35,298 shares during the period. Finally, Icon Advisers Inc. Co. boosted its position in shares of ArcelorMittal by 140.7% in the first quarter. Icon Advisers Inc. Co. now owns 65,000 shares of the basic materials company’s stock valued at $3,379,000 after acquiring an additional 38,000 shares during the period. 9.29% of the stock is currently owned by institutional investors.

About ArcelorMittal

ArcelorMittal is a global steel and mining company that produces steel products for customers across industries including automotive, construction, energy, appliances and packaging. Its offerings include flat and long steel products, as well as iron ore and metallurgical coal used in steelmaking. The company operates across the Americas, Europe and other regions, combining mining and steelmaking activities with research and product development. ArcelorMittal was formed in 2006 through the merger of Arcelor and Mittal Steel.