Stock Traders Purchase Large Volume of ArcelorMittal Call Options (NYSE:MT)

ArcelorMittal S.A. (NYSE:MT) was the recipient of unusually large options trading activity on Friday. Traders acquired 4,703 call options on the stock. This represents an increase of 70% compared to the typical daily volume of 2,774 call options.

ArcelorMittal Stock Down 2.3 %

Shares of NYSE:MT traded down $0.67 during midday trading on Friday, hitting $27.72. 2,153,930 shares of the stock were exchanged, compared to its average volume of 1,660,657. The business’s fifty day simple moving average is $24.97 and its two-hundred day simple moving average is $24.48. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35. ArcelorMittal has a 52-week low of $20.52 and a 52-week high of $29.38. The company has a market capitalization of $22.71 billion, a PE ratio of 16.82, a P/E/G ratio of 0.14 and a beta of 1.74.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). ArcelorMittal had a return on equity of 4.31% and a net margin of 2.14%. As a group, research analysts predict that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

Institutional Trading of ArcelorMittal

Several large investors have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. increased its holdings 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 acquiring an additional 536 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 purchasing an additional 595 shares during the last quarter. US Bancorp DE raised its position in shares of ArcelorMittal by 5.0% in the fourth quarter. US Bancorp DE now owns 15,085 shares of the basic materials company’s stock valued at $349,000 after purchasing an additional 717 shares during the period. Dorsey & Whitney Trust CO LLC lifted its stake in shares of ArcelorMittal by 9.1% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,545 shares of the basic materials company’s stock worth $221,000 after buying an additional 797 shares during the last quarter. Finally, United Capital Financial Advisors LLC boosted its holdings 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 buying an additional 1,129 shares during the period. 9.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Bank of America raised ArcelorMittal from a “neutral” rating to a “buy” rating and upped their price target for the company from $30.00 to $32.90 in a research report on Thursday, November 14th. Morgan Stanley downgraded ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Friday, February 14th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.17.

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.