ArcelorMittal (NYSE:MT) Rating Lowered to “Equal Weight” at Morgan Stanley

Morgan Stanley lowered shares of ArcelorMittal (NYSE:MT) from an overweight rating to an equal weight rating in a research note issued to investors on Friday, MarketBeat.com reports.

Separately, Bank of America raised ArcelorMittal from a “neutral” rating to a “buy” rating and increased their price target for the company from $30.00 to $32.90 in a research report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.17.

ArcelorMittal Price Performance

Shares of NYSE:MT opened at $28.58 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. ArcelorMittal has a twelve month low of $20.52 and a twelve month high of $29.38. The stock’s 50 day moving average is $24.33 and its 200-day moving average is $24.08. The firm has a market capitalization 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 released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.24%. Sell-side analysts forecast that ArcelorMittal will post 3.6 EPS for the current fiscal year.

Institutional Investors Weigh In On ArcelorMittal

Large investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. increased its position in shares of ArcelorMittal by 89.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 536 shares during the last quarter. GAMMA Investing LLC increased its position in shares of ArcelorMittal by 68.5% during the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 595 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of ArcelorMittal by 76.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company’s stock valued at $137,000 after purchasing an additional 2,586 shares during the last quarter. Callan Family Office LLC purchased a new stake in shares of ArcelorMittal during the 4th quarter valued at $207,000. Finally, PNC Financial Services Group Inc. increased its position in shares of ArcelorMittal by 23.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,076 shares of the basic materials company’s stock valued at $210,000 after purchasing an additional 1,702 shares during the last quarter. 9.29% of the stock is owned by hedge funds and other institutional investors.

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.