ArcelorMittal (NYSE:MT) Downgraded by Morgan Stanley to “Equal Weight”

Morgan Stanley downgraded shares of ArcelorMittal (NYSE:MT) from an overweight rating to an equal weight rating in a research report report published on Friday morning, 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 report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $31.17.

ArcelorMittal Trading Down 0.5 %

Shares of MT opened at $28.58 on Friday. The company has a market capitalization of $23.41 billion, a P/E ratio of 17.32, a P/E/G ratio of 0.56 and a beta of 1.74. ArcelorMittal has a one year low of $20.52 and a one year high of $29.38. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 1.46. The stock has a 50-day moving average price of $24.26 and a 200 day moving average price of $24.03.

ArcelorMittal (NYSE:MT) last issued 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 Trading of ArcelorMittal

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its stake in ArcelorMittal by 89.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock valued at $26,000 after buying an additional 536 shares in the last quarter. GAMMA Investing LLC raised its stake in ArcelorMittal by 68.5% during the fourth quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock valued at $34,000 after buying an additional 595 shares in the last quarter. US Bancorp DE raised its position in shares of ArcelorMittal by 5.0% during the 4th quarter. US Bancorp DE now owns 15,085 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 717 shares during the period. Dorsey & Whitney Trust CO LLC raised its position in shares of ArcelorMittal by 9.1% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,545 shares of the basic materials company’s stock worth $221,000 after purchasing an additional 797 shares during the period. Finally, United Capital Financial Advisors LLC raised its position in shares of ArcelorMittal by 11.5% during the 4th quarter. United Capital Financial Advisors LLC now owns 10,940 shares of the basic materials company’s stock worth $253,000 after purchasing an additional 1,129 shares during the period. Institutional investors and hedge funds own 9.29% of the company’s stock.

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.