Wealth Enhancement Advisory Services LLC Invests $642,000 in ArcelorMittal S.A. (NYSE:MT)

Wealth Enhancement Advisory Services LLC bought a new position in shares of ArcelorMittal S.A. (NYSE:MT - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,466 shares of the basic materials company's stock, valued at approximately $642,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MT. Maple Rock Capital Partners Inc. purchased a new position in shares of ArcelorMittal during the 1st quarter worth about $36,406,000. Bank of New York Mellon Corp grew its stake in shares of ArcelorMittal by 2,038.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 822,426 shares of the basic materials company's stock valued at $18,858,000 after buying an additional 783,965 shares during the period. MMCAP International Inc. SPC grew its position in ArcelorMittal by 103.4% during the first quarter. MMCAP International Inc. SPC now owns 650,820 shares of the basic materials company's stock valued at $17,950,000 after acquiring an additional 330,820 shares during the period. Encompass Capital Advisors LLC acquired a new stake in ArcelorMittal during the second quarter worth about $12,679,000. Finally, Van ECK Associates Corp raised its holdings in shares of ArcelorMittal by 1.8% in the 2nd quarter. Van ECK Associates Corp now owns 225,420 shares of the basic materials company's stock worth $5,169,000 after purchasing an additional 3,994 shares during the period. 9.88% of the stock is owned by hedge funds and other institutional investors.

ArcelorMittal Stock Down 1.6 %

NYSE MT traded down $0.42 during trading hours on Friday, reaching $26.09. 2,191,491 shares of the company traded hands, compared to its average volume of 1,609,565. The stock has a market capitalization of $21.01 billion, a PE ratio of -18.50, a PEG ratio of 0.54 and a beta of 1.77. The company has a current ratio of 1.53, a quick ratio of 0.66 and a debt-to-equity ratio of 0.16. ArcelorMittal S.A. has a 12 month low of $20.52 and a 12 month high of $29.01. The company has a 50 day moving average of $24.24 and a two-hundred day moving average of $24.06.

ArcelorMittal (NYSE:MT - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. The firm had revenue of $15.20 billion for the quarter, compared to analysts' expectations of $15.11 billion. ArcelorMittal had a positive return on equity of 6.00% and a negative net margin of 0.93%. ArcelorMittal's revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.10 earnings per share. As a group, equities analysts expect that ArcelorMittal S.A. will post 3 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MT. Barclays raised shares of ArcelorMittal from an "equal weight" rating to an "overweight" rating in a research report on Monday, August 19th. JPMorgan Chase & Co. lowered shares of ArcelorMittal from an "overweight" rating to a "neutral" rating in a research report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of ArcelorMittal from a "hold" rating to a "buy" rating and lifted their target price for the company from $29.00 to $31.00 in a report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, ArcelorMittal has an average rating of "Hold" and an average price target of $30.30.

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.