Former 10% Owner Of ArcelorMittal (MT) Has Sold 40,000,000 Of The Company’s Shares

The stock of ArcelorMittal (NYSE:MT) increased by $1.07 on Friday to finish at $32.99, up 3.37 percent on Monday. The last five days have seen an average of 2,476,898 shares of common stock traded. 24 times new highs were reached in the current year, with a gain of $10.07. The average number of shares traded over the last 20 days was 3,680,230, while the average volume over the last 50 days totaled 3,941,482.

MT stock appreciated 5.03% since last month. On 10/06/21, the company’s shares reached a one-month low of $27.78. The stock touched a high of $36.58 on 08/13/21, after rallying from a low of $13.40 in 52 weeks. The price of MT stock has risen by 39.39% or $10.07 this year, reaching a new high 24 times. Still, the stock price is down -9.80% from the 52-week high.

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Insider Transactions

There have been 256 days since ArcelorMittal (MT) last reported insider trading activity on Feb 11. On Feb 11, Former 10% Owner ArcelorMittal sold 40,000,000 shares at $16.12 each. This transaction resulted in the insider making $644,800,000.

Valuation Metrics

ArcelorMittal (MT) has a trailing price-to-earnings (P/E) ratio of 5.16. This level actually compares favorably with the industry at large, as the PE for the Steel industry stands at about 6.22. Further, its PE also compares favorably with the Basic Materials sector’s trailing 12 months PE ratio, which comes in at 14.00 right now. The PE ratio of ArcelorMittal has varied between 30.34 and 3.431 in the last five years. Beta for the stock is 2.03. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 0.49, the price-to-book (PB) ratio of 0.83, and the price-to-cash flow ratio of 7.50.

ArcelorMittal’s dividend is $0.25 per share per year. With a dividend yield of 0.76%, MT has a payout ratio of 4.80%. On Jun. 15, the company paid $0.30 per share in dividends, an increase of 50.0% from $0.20 last year. A $0.10 dividend increase was reported on Wednesday June 2 2021, making it the 2 consecutive year the dividend has increased.

For the three months ended June 29, ArcelorMittal’s quick ratio was 0.60, while its current ratio was 1.30, indicating its inability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.15, and the total debt to equity ratio is 0.21. ArcelorMittal’s EBITDA margin for the year ended June 29 was 12.01%, whereas its operating margin stood at 15.50% for the same period. Based on annual data, it had gross profit of $4.13 billion and revenue of $53.27 billion.

Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. MT’s return on assets (ROA) during the last 12 months has been 8.70%. There was a 0.90% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 18.30%. ROE has averaged 24.01 in the past year for the broader industry.

Earnings Surprise

According to ArcelorMittal’s quarterly financial report for the quarter that ended June 29, it had $1.15 billion in total debt versus $3.04 billion in cash and short-term investments. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $53.27 billion, while revenues fell by -32.56% to $0.0. It was predicted that ArcelorMittal’s quarterly earnings would be $3.46, but it ended up being $2.47, beating the consensus by 40.10%. EBITDA was $5.05 billion for the quarter. At the end of ArcelorMittal’s most recent quarter ended June 29, its liabilities totaled 39.1 billion, while its total debt was $9.23 billion.

Technical Picture

Here’s a quick look at ArcelorMittal’s (MT) price momentum from a technical perspective. As of 22 October, the RSI 9-day stood at 66.58%, suggesting the stock is Neutral, with a 29.06% historical volatility rate.

The stochastic %K and %D were 85.84% and 87.24% respectively, while the average true range (ATR) was 0.94. Based on the 14-day stochastic reading of 99.62%, the RSI (14) reading is 60.56%. On the 9-day MACD Oscillator, the stock is at 0.06, and the 14-day reading is at 1.10.

Analyst Ratings

In its most recent analyst report, Credit Suisse raised its rating on ArcelorMittal (NYSE: MT) to an Outperform. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned ArcelorMittal (MT) an Buy rating. MT is a stock that is recommended for selling by 0 brokerage firms, while 1 companies recommend holding. The stock is underweighted by 1 analyst. Among the analysts who rate the stock, 3 rates it overweight and 14 others recommend it as a buy.

What is MT’s price target for the next 12 months?

The current consensus forecast for the stock is between $32.50 and $57.98, with a median target price of $46.24. In analyzing these forecasts, the average price target given by analysts for ArcelorMittal (MT) is $46.06.


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