ArcelorMittal S.A. (NYSE:MT) Sees Significant Growth in Short Interest

ArcelorMittal S.A. (NYSE:MT) was the target of a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 5,680,000 shares, a growth of 38.2% from the January 31st total of 4,110,000 shares. Based on an average daily volume of 1,790,000 shares, the days-to-cover ratio is currently 3.2 days. Currently, 0.7% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Polar Asset Management Partners Inc. purchased a new position in ArcelorMittal in the fourth quarter valued at about $2,521,000. Vise Technologies Inc. acquired a new stake in shares of ArcelorMittal in the fourth quarter valued at about $217,000. Quantinno Capital Management LP raised its holdings in shares of ArcelorMittal by 26.5% during the 4th quarter. Quantinno Capital Management LP now owns 144,604 shares of the basic materials company’s stock valued at $3,345,000 after buying an additional 30,280 shares during the period. Nomura Holdings Inc. acquired a new position in ArcelorMittal during the 4th quarter worth approximately $1,055,000. Finally, Mork Capital Management LLC purchased a new position in ArcelorMittal in the 4th quarter worth approximately $999,000. Hedge funds and other institutional investors own 9.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MT has been the subject of several research reports. Morgan Stanley downgraded ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and upped their price objective for the company from $30.00 to $32.90 in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $31.17.

ArcelorMittal Trading Up 9.4 %

MT traded up $2.83 during trading on Wednesday, hitting $33.09. The company’s stock had a trading volume of 3,681,153 shares, compared to its average volume of 1,702,022. ArcelorMittal has a twelve month low of $20.52 and a twelve month high of $33.13. The firm’s 50 day moving average price is $25.33 and its 200-day moving average price is $24.67. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59. The stock has a market cap of $27.11 billion, a PE ratio of 20.08, a PEG ratio of 0.14 and a beta of 1.74.

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 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%. On average, analysts expect that ArcelorMittal will post 3.72 earnings per share for the current year.

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.