ArcelorMittal Sees Unusually Large Options Volume (NYSE:MT)

ArcelorMittal S.A. (NYSE:MT) saw unusually large options trading activity on Friday. Investors acquired 4,076 call options on the stock. This is an increase of approximately 123% compared to the average daily volume of 1,824 call options.

ArcelorMittal Trading Down 2.6 %

NYSE MT opened at $24.71 on Friday. The firm has a 50 day simple moving average of $24.85 and a 200-day simple moving average of $23.94. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 1.46. ArcelorMittal has a one year low of $20.52 and a one year high of $29.01. The firm has a market cap of $19.90 billion, a price-to-earnings ratio of -17.52, a PEG ratio of 0.64 and a beta of 1.74.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, November 7th. The basic materials company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The business had revenue of $15.20 billion during the quarter, compared to analyst estimates of $15.11 billion. During the same quarter last year, the firm posted $1.10 earnings per share. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. Equities research analysts anticipate that ArcelorMittal will post 2.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of ArcelorMittal from a “hold” rating to a “buy” rating and increased their target price for the stock from $29.00 to $31.00 in a research note on Wednesday, August 28th. Bank of America raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and increased their target price for the stock from $30.00 to $32.90 in a research note on Thursday, November 14th. Barclays raised shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. lowered shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research note on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, ArcelorMittal currently has an average rating of “Moderate Buy” and a consensus price target of $31.17.

Institutional Trading of ArcelorMittal

Several hedge funds have recently added to or reduced their stakes in the company. MML Investors Services LLC acquired a new stake in ArcelorMittal in the third quarter valued at approximately $308,000. Kovitz Investment Group Partners LLC acquired a new stake in ArcelorMittal in the third quarter valued at approximately $376,000. Quantinno Capital Management LP raised its holdings in ArcelorMittal by 210.6% in the third quarter. Quantinno Capital Management LP now owns 114,324 shares of the basic materials company’s stock valued at $3,002,000 after acquiring an additional 77,519 shares in the last quarter. Recurrent Investment Advisors LLC raised its holdings in ArcelorMittal by 8.2% in the third quarter. Recurrent Investment Advisors LLC now owns 102,290 shares of the basic materials company’s stock valued at $2,686,000 after acquiring an additional 7,753 shares in the last quarter. Finally, Flow Traders U.S. LLC acquired a new stake in ArcelorMittal in the third quarter valued at approximately $369,000. Institutional investors and hedge funds own 9.29% of the company’s stock.

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.