ArcelorMittal (NYSE:MT) Lowered to Equal Weight Rating by Morgan Stanley

ArcelorMittal (NYSE:MT) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports.

Separately, Bank of America raised ArcelorMittal from a “neutral” rating to a “buy” rating and raised their price target for the stock from $30.00 to $32.90 in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.17.

ArcelorMittal Price Performance

NYSE MT opened at $28.71 on Friday. The company has a market cap of $23.52 billion, a PE ratio of 17.40, a P/E/G ratio of 0.56 and a beta of 1.74. The firm’s 50 day moving average price is $24.20 and its 200-day moving average price is $24.00. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 1.46. ArcelorMittal has a 52-week low of $20.52 and a 52-week high of $29.38.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.24%. Sell-side analysts forecast that ArcelorMittal will post 3.6 EPS for the current fiscal year.

Institutional Trading of ArcelorMittal

Large investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its holdings 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 worth $26,000 after purchasing an additional 536 shares during the period. GAMMA Investing LLC raised its position in ArcelorMittal by 68.5% during the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock worth $34,000 after buying an additional 595 shares during the last quarter. US Bancorp DE raised its position in 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 buying an additional 717 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in 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 valued at $221,000 after acquiring an additional 797 shares during the period. Finally, United Capital Financial Advisors LLC boosted its holdings in shares of ArcelorMittal by 11.5% in the 4th quarter. United Capital Financial Advisors LLC now owns 10,940 shares of the basic materials company’s stock valued at $253,000 after acquiring an additional 1,129 shares during the last quarter. 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.