ArcelorMittal S.A. (NYSE:MT) to Issue $0.21 Semi-Annual Dividend

ArcelorMittal S.A. (NYSE:MT) announced a Semi-Annual dividend on Monday, April 15th, Zacks reports. Shareholders of record on Friday, May 17th will be paid a dividend of 0.213 per share by the basic materials company on Wednesday, June 12th. The ex-dividend date of this dividend is Thursday, May 16th.

ArcelorMittal Price Performance

Shares of NYSE:MT opened at $25.19 on Wednesday. The company’s 50-day moving average is $26.90 and its 200 day moving average is $25.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.67 and a current ratio of 1.53. The company has a market capitalization of $20.29 billion, a P/E ratio of 25.19, a price-to-earnings-growth ratio of 0.34 and a beta of 1.93. ArcelorMittal has a fifty-two week low of $21.30 and a fifty-two week high of $30.15.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, February 8th. The basic materials company reported ($3.57) earnings per share for the quarter, missing the consensus estimate of ($2.08) by ($1.49). The company had revenue of $14.55 billion during the quarter, compared to the consensus estimate of $16.39 billion. ArcelorMittal had a return on equity of 8.55% and a net margin of 1.35%. The firm’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same quarter last year, the company posted $1.37 earnings per share. On average, equities research analysts forecast that ArcelorMittal will post 4.37 earnings per share for the current year.

Institutional Trading of ArcelorMittal

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wetherby Asset Management Inc. boosted its holdings in ArcelorMittal by 3.7% during the 1st quarter. Wetherby Asset Management Inc. now owns 11,474 shares of the basic materials company’s stock valued at $367,000 after acquiring an additional 411 shares during the period. Creative Planning raised its position in ArcelorMittal by 6.3% during the second quarter. Creative Planning now owns 9,063 shares of the basic materials company’s stock valued at $205,000 after acquiring an additional 540 shares in the last quarter. Advisor Partners II LLC grew its holdings in ArcelorMittal by 4.9% in the first quarter. Advisor Partners II LLC now owns 14,686 shares of the basic materials company’s stock valued at $442,000 after purchasing an additional 681 shares during the period. PNC Financial Services Group Inc. grew its holdings in ArcelorMittal by 10.7% in the first quarter. PNC Financial Services Group Inc. now owns 7,874 shares of the basic materials company’s stock valued at $252,000 after purchasing an additional 758 shares during the period. Finally, Guggenheim Capital LLC boosted its stake in shares of ArcelorMittal by 5.3% in the second quarter. Guggenheim Capital LLC now owns 15,217 shares of the basic materials company’s stock worth $416,000 after acquiring an additional 767 shares during the last quarter. Institutional investors own 9.88% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MT shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $31.00 price objective (down previously from $34.00) on shares of ArcelorMittal in a research note on Tuesday. StockNews.com downgraded ArcelorMittal from a “buy” rating to a “hold” rating in a report on Monday, March 4th.

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.