ArcelorMittal (NYSE:MT) Downgraded to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of ArcelorMittal (NYSE:MT) from an overweight rating to a neutral rating in a research report report published on Friday, MarketBeat reports.

Several other research firms have also recently commented on MT. Barclays raised ArcelorMittal from an equal weight rating to an overweight rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft upgraded ArcelorMittal from a hold rating to a buy rating and increased their price objective for the company from $29.00 to $31.00 in a report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Hold and an average price target of $30.30.

ArcelorMittal Trading Up 0.4 %

MT opened at $24.85 on Friday. ArcelorMittal has a 52 week low of $20.52 and a 52 week high of $29.01. The company has a quick ratio of 0.66, a current ratio of 1.53 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $23.43 and a 200-day simple moving average of $24.40. The firm has a market cap of $20.01 billion, a P/E ratio of 27.92, a P/E/G ratio of 0.53 and a beta of 1.77.

ArcelorMittal (NYSE:MT) last announced its earnings results on Thursday, August 1st. The basic materials company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.49). The firm had revenue of $16.25 billion for the quarter, compared to analysts’ expectations of $16.32 billion. ArcelorMittal had a negative net margin of 0.93% and a positive return on equity of 6.00%. The business’s revenue was down 12.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.20 earnings per share. On average, equities analysts expect that ArcelorMittal will post 3 earnings per share for the current year.

Institutional Trading of ArcelorMittal

A number of large investors have recently made changes to their positions in MT. Blue Trust Inc. increased its stake in ArcelorMittal by 1,820.0% in the second quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 1,911 shares during the period. Mather Group LLC. increased its position in ArcelorMittal by 1,388.6% in the 2nd quarter. Mather Group LLC. now owns 2,218 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 2,069 shares during the period. Allspring Global Investments Holdings LLC raised its stake in ArcelorMittal by 298.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock valued at $54,000 after acquiring an additional 1,771 shares during the last quarter. Headlands Technologies LLC acquired a new stake in ArcelorMittal during the 1st quarter worth approximately $71,000. Finally, CWM LLC grew its stake in shares of ArcelorMittal by 378.2% in the 2nd quarter. CWM LLC now owns 4,930 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 3,899 shares during the last quarter. 9.88% of the stock is owned by institutional investors and hedge funds.

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.