ArcelorMittal (NYSE:MT) Given Consensus Rating of “Moderate Buy” by Analysts

ArcelorMittal (NYSE:MT) has received a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $72.40.

A number of equities research analysts recently commented on the company. Weiss Ratings reiterated a “buy (b-)” rating on shares of ArcelorMittal in a research report on Friday, July 31st. Santander downgraded ArcelorMittal from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 21st. Wells Fargo & Company upped their price objective on ArcelorMittal from $62.00 to $69.00 and gave the stock an “equal weight” rating in a report on Friday, July 31st. Jefferies Financial Group reiterated a “buy” rating on shares of ArcelorMittal in a research report on Monday, July 6th. Finally, JPMorgan Chase & Co. raised shares of ArcelorMittal from an “underweight” rating to a “neutral” rating in a report on Friday, July 10th.

Institutional Trading of ArcelorMittal

A number of large investors have recently made changes to their positions in the business. Darwin Wealth Management LLC bought a new position in shares of ArcelorMittal during the 4th quarter valued at approximately $1,126,000. Carrera Capital Advisors purchased a new stake in ArcelorMittal during the 4th quarter valued at $4,673,000. Icon Advisers Inc. Co. lifted its position in ArcelorMittal by 140.7% in the first quarter. Icon Advisers Inc. Co. now owns 65,000 shares of the basic materials company’s stock worth $3,379,000 after buying an additional 38,000 shares during the last quarter. First Trust Advisors LP boosted its stake in ArcelorMittal by 275.8% during the first quarter. First Trust Advisors LP now owns 55,311 shares of the basic materials company’s stock worth $2,875,000 after buying an additional 40,593 shares during the period. Finally, Quantinno Capital Management LP increased its position in ArcelorMittal by 11.7% during the first quarter. Quantinno Capital Management LP now owns 335,931 shares of the basic materials company’s stock valued at $17,461,000 after acquiring an additional 35,298 shares during the last quarter. 9.29% of the stock is currently owned by institutional investors.

ArcelorMittal Stock Up 0.0%

MT opened at $73.24 on Friday. The firm has a 50-day simple moving average of $66.57 and a two-hundred day simple moving average of $61.52. ArcelorMittal has a 52 week low of $31.93 and a 52 week high of $75.66. The company has a market capitalization of $56.76 billion, a PE ratio of 31.03, a price-to-earnings-growth ratio of 0.57 and a beta of 1.53. The company has a quick ratio of 0.57, a current ratio of 1.43 and a debt-to-equity ratio of 0.21.

About ArcelorMittal

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.