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

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

ArcelorMittal Stock Performance

Shares of MT traded down $0.67 during mid-day trading on Friday, reaching $27.72. 2,153,930 shares of the company’s stock traded hands, compared to its average volume of 1,660,657. 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 business’s 50-day moving average price is $24.97 and its 200-day moving average price is $24.48. The stock has a market capitalization of $22.71 billion, a P/E ratio of 16.82, a price-to-earnings-growth ratio of 0.14 and a beta of 1.74. ArcelorMittal has a 12 month low of $20.52 and a 12 month high of $29.38.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings data 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 net margin of 2.14% and a return on equity of 4.31%. Equities analysts predict that ArcelorMittal will post 3.72 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on MT shares. Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and raised their target price for the company from $30.00 to $32.90 in a research note 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 investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $31.17.

Hedge Funds Weigh In On ArcelorMittal

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MT. GAMMA Investing LLC boosted 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 worth $34,000 after buying an additional 595 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of ArcelorMittal by 154.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 57,106 shares of the basic materials company’s stock worth $1,500,000 after acquiring an additional 34,688 shares in the last quarter. Natixis Advisors LLC grew its holdings in shares of ArcelorMittal by 171.4% in the 3rd quarter. Natixis Advisors LLC now owns 130,100 shares of the basic materials company’s stock worth $3,416,000 after acquiring an additional 82,164 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of ArcelorMittal during the third quarter worth $642,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of ArcelorMittal during the fourth quarter valued at $233,000. 9.29% of the stock is owned by institutional investors.

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.