ArcelorMittal Target of Unusually Large Options Trading (NYSE:MT)

ArcelorMittal S.A. (NYSE:MT) was the recipient of some unusual options trading activity on Friday. Stock traders bought 4,703 call options on the stock. This represents an increase of approximately 70% compared to the average daily volume of 2,774 call options.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Morgan Stanley downgraded shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, ArcelorMittal currently has a consensus rating of “Hold” and an average price target of $31.17.

ArcelorMittal Stock Down 2.3 %

Shares of ArcelorMittal stock opened at $27.72 on Friday. ArcelorMittal has a one year low of $20.52 and a one year high of $29.38. The company has a market cap of $22.71 billion, a P/E ratio of 16.80, a PEG ratio of 0.14 and a beta of 1.74. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35. The firm has a fifty day moving average of $25.06 and a two-hundred day moving average of $24.54.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share (EPS) 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%. On average, analysts forecast that ArcelorMittal will post 3.72 earnings per share for the current year.

Institutional Trading of ArcelorMittal

Several hedge funds have recently modified their holdings of MT. International Assets Investment Management LLC acquired a new stake in ArcelorMittal in the third quarter valued at $4,430,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of ArcelorMittal in the 3rd quarter valued at about $642,000. Seascape Capital Management lifted its stake in shares of ArcelorMittal by 7.4% in the third quarter. Seascape Capital Management now owns 26,170 shares of the basic materials company’s stock valued at $687,000 after purchasing an additional 1,812 shares during the period. Atria Investments Inc purchased a new stake in ArcelorMittal during the third quarter worth about $244,000. Finally, Crossmark Global Holdings Inc. grew its position in ArcelorMittal by 168.9% during the third quarter. Crossmark Global Holdings Inc. now owns 34,766 shares of the basic materials company’s stock worth $913,000 after buying an additional 21,839 shares during the period. 9.29% of the stock is owned by institutional investors and hedge funds.

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.