ArcelorMittal (NYSE:MT) Sets New 1-Year Low at $21.24

ArcelorMittal S.A. (NYSE:MT) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $21.24 and last traded at $21.26, with a volume of 2057954 shares traded. The stock had previously closed at $22.86.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MT. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $31.00 price objective (down from $34.00) on shares of ArcelorMittal in a research report on Tuesday, April 16th. The Goldman Sachs Group started coverage on shares of ArcelorMittal in a report on Thursday, May 9th. They issued a “neutral” rating and a $29.60 target price on the stock. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $30.30.

ArcelorMittal Stock Performance

The company has a fifty day moving average price of $23.89 and a two-hundred day moving average price of $25.65. The firm has a market cap of $17.25 billion, a price-to-earnings ratio of 24.09, a price-to-earnings-growth ratio of 0.35 and a beta of 1.77. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.55 and a quick ratio of 0.65.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.93 by $0.23. The business had revenue of $16.28 billion during the quarter, compared to the consensus estimate of $16.67 billion. ArcelorMittal had a net margin of 1.15% and a return on equity of 8.29%. The firm’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 EPS. As a group, equities research analysts expect that ArcelorMittal S.A. will post 3.92 EPS for the current year.

Hedge Funds Weigh In On ArcelorMittal

Several institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. raised its position in shares of ArcelorMittal by 336.3% in the 4th quarter. Blue Trust Inc. now owns 1,309 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 1,009 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in ArcelorMittal during the 4th quarter valued at about $5,160,000. Cerity Partners LLC lifted its holdings in ArcelorMittal by 21.2% in the fourth quarter. Cerity Partners LLC now owns 13,936 shares of the basic materials company’s stock valued at $396,000 after acquiring an additional 2,440 shares during the period. Knights of Columbus Asset Advisors LLC boosted its stake in shares of ArcelorMittal by 14.7% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 8,334 shares of the basic materials company’s stock worth $237,000 after acquiring an additional 1,065 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of ArcelorMittal by 16.0% in the 4th quarter. Signaturefd LLC now owns 25,684 shares of the basic materials company’s stock valued at $729,000 after acquiring an additional 3,550 shares during the last quarter. Institutional investors and hedge funds own 9.88% 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.