ArcelorMittal (NYSE:MT) Hits New 12-Month High – Still a Buy?

Shares of ArcelorMittal S.A. (NYSE:MT) hit a new 52-week high on Tuesday . The company traded as high as $30.38 and last traded at $29.49, with a volume of 4527977 shares. The stock had previously closed at $27.74.

Analyst Ratings Changes

MT has been the topic of several recent analyst reports. Morgan Stanley downgraded shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Friday, February 14th. Bank of America upgraded shares of 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 note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, ArcelorMittal currently has a consensus rating of “Hold” and a consensus target price of $31.17.

ArcelorMittal Price Performance

The stock has a fifty day moving average of $25.19 and a 200 day moving average of $24.61. The stock has a market cap of $24.16 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 0.14 and a beta of 1.74. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59.

ArcelorMittal (NYSE:MT) last released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $0.52 EPS 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%. On average, analysts expect that ArcelorMittal S.A. will post 3.72 EPS for the current fiscal year.

Institutional Investors Weigh In On ArcelorMittal

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its stake in shares of ArcelorMittal by 89.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock worth $26,000 after buying an additional 536 shares during the last quarter. GAMMA Investing LLC raised its position in ArcelorMittal by 68.5% during the fourth quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 595 shares during the period. BNP Paribas Financial Markets increased its stake in shares of ArcelorMittal by 76.2% during the fourth quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 2,110 shares in the last quarter. Smartleaf Asset Management LLC raised 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 worth $137,000 after purchasing an additional 2,586 shares during the last quarter. Finally, Callan Family Office LLC purchased a new position in ArcelorMittal in the 4th quarter valued at about $207,000. 9.29% of the stock is owned by institutional investors and hedge funds.

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.