ArcelorMittal Target of Unusually High Options Trading (MT)

ArcelorMittal SA (NYSE:MT) was the target of some unusual options trading on Wednesday. Investors purchased 6,702 put options on the stock. This represents an increase of approximately 857% compared to the average daily volume of 700 put options.

Shares of ArcelorMittal (NYSE:MT) opened at $34.53 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.44 and a current ratio of 1.21. ArcelorMittal has a 12 month low of $19.59 and a 12 month high of $35.00. The firm has a market cap of $35,170.00, a P/E ratio of 8.99, a PEG ratio of 0.96 and a beta of 2.21.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Friday, November 10th. The basic materials company reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.32. The firm had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $17.08 billion. ArcelorMittal had a net margin of 6.04% and a return on equity of 11.57%. The company’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 earnings per share. sell-side analysts expect that ArcelorMittal will post 3.89 EPS for the current fiscal year.

Several research analysts have issued reports on the company. Cowen boosted their target price on ArcelorMittal from $27.00 to $32.00 and gave the company a “market perform” rating in a research report on Monday, November 13th. Zacks Investment Research downgraded shares of ArcelorMittal from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 22nd. UBS Group raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating in a research note on Friday, October 20th. ValuEngine downgraded shares of ArcelorMittal from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 26th. Finally, Goldman Sachs Group reaffirmed a “buy” rating on shares of ArcelorMittal in a research note on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $34.05.

A number of large investors have recently modified their holdings of MT. BNP Paribas Arbitrage SA raised its stake in ArcelorMittal by 5.2% in the second quarter. BNP Paribas Arbitrage SA now owns 50,533 shares of the basic materials company’s stock worth $1,149,000 after buying an additional 2,491 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in ArcelorMittal in the second quarter worth $998,000. Sawtooth Solutions LLC purchased a new position in ArcelorMittal in the second quarter worth $206,000. TIAA CREF Investment Management LLC purchased a new position in ArcelorMittal in the second quarter worth $13,408,000. Finally, Quantitative Investment Management LLC purchased a new position in ArcelorMittal in the second quarter worth $6,605,000. 4.11% of the stock is owned by institutional investors.

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ArcelorMittal Company Profile

ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

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