Investors Purchase High Volume of ArcelorMittal Call Options (NYSE:MT)

ArcelorMittal S.A. (NYSE:MT) saw unusually large options trading activity on Friday. Stock investors purchased 4,703 call options on the stock. This represents an increase of 70% compared to the typical volume of 2,774 call options.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC bought a new stake in ArcelorMittal in the 3rd quarter worth about $4,430,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of ArcelorMittal during the 3rd quarter valued at about $642,000. Seascape Capital Management grew its stake in shares of ArcelorMittal by 7.4% in the third quarter. Seascape Capital Management now owns 26,170 shares of the basic materials company’s stock worth $687,000 after acquiring an additional 1,812 shares during the period. Atria Investments Inc purchased a new position in shares of ArcelorMittal during the third quarter valued at approximately $244,000. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of ArcelorMittal by 168.9% during the third quarter. Crossmark Global Holdings Inc. now owns 34,766 shares of the basic materials company’s stock valued at $913,000 after purchasing an additional 21,839 shares during the last quarter. Hedge funds and other institutional investors own 9.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MT. Morgan Stanley lowered shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 14th. Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and upped their price target for the stock from $30.00 to $32.90 in a research note on Thursday, November 14th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, ArcelorMittal has an average rating of “Hold” and an average target price of $31.17.

ArcelorMittal Stock Down 2.3 %

NYSE:MT opened at $27.72 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35. The firm has a market cap of $22.71 billion, a P/E ratio of 16.80, a P/E/G ratio of 0.14 and a beta of 1.74. ArcelorMittal has a fifty-two week low of $20.52 and a fifty-two week high of $29.38. The firm has a 50-day simple moving average of $25.06 and a two-hundred day simple moving average of $24.52.

ArcelorMittal (NYSE:MT) last announced 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 net margin of 2.14% and a return on equity of 4.31%. Analysts predict that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

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.