Short Interest in ArcelorMittal S.A. (NYSE:MT) Decreases By 25.0%

ArcelorMittal S.A. (NYSE:MT) saw a significant decline in short interest in January. As of January 31st, there was short interest totalling 4,110,000 shares, a decline of 25.0% from the January 15th total of 5,480,000 shares. Based on an average daily volume of 1,780,000 shares, the days-to-cover ratio is currently 2.3 days. Currently, 0.5% of the company’s stock are sold short.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Northern Trust Corp increased its position in ArcelorMittal by 31.7% during the fourth quarter. Northern Trust Corp now owns 1,153,924 shares of the basic materials company’s stock valued at $26,690,000 after acquiring an additional 277,891 shares during the last quarter. Dauntless Investment Group LLC purchased a new stake in ArcelorMittal during the fourth quarter valued at $655,000. Banco Bilbao Vizcaya Argentaria S.A. increased its position in ArcelorMittal by 218.1% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 82,183 shares of the basic materials company’s stock valued at $1,891,000 after acquiring an additional 56,345 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in ArcelorMittal during the fourth quarter valued at $1,623,000. Finally, Tower Research Capital LLC TRC increased its position in ArcelorMittal by 94.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,408 shares of the basic materials company’s stock valued at $218,000 after acquiring an additional 4,567 shares during the last quarter. Hedge funds and other institutional investors own 9.29% of the company’s stock.

ArcelorMittal Stock Down 0.5 %

Shares of MT stock traded down $0.13 during mid-day trading on Friday, hitting $28.58. The company’s stock had a trading volume of 1,547,140 shares, compared to its average volume of 2,024,448. ArcelorMittal has a 52-week low of $20.52 and a 52-week high of $29.38. The business has a 50-day moving average price of $24.33 and a 200 day moving average price of $24.08. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 1.46. The stock has a market cap of $23.41 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.56 and a beta of 1.74.

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

Analysts Set New Price Targets

A number of research analysts have issued reports on MT shares. Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $32.90 in a research note on Thursday, November 14th. Morgan Stanley cut ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Friday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $31.17.

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.