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Quantinno Capital Management LP Raises Stock Holdings in ArcelorMittal S.A. (NYSE:MT)

ArcelorMittal logo with Basic Materials background

Quantinno Capital Management LP grew its stake in ArcelorMittal S.A. (NYSE:MT - Free Report) by 210.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,324 shares of the basic materials company's stock after buying an additional 77,519 shares during the period. Quantinno Capital Management LP's holdings in ArcelorMittal were worth $3,002,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MT. Recurrent Investment Advisors LLC lifted its stake in ArcelorMittal by 8.2% in the third quarter. Recurrent Investment Advisors LLC now owns 102,290 shares of the basic materials company's stock valued at $2,686,000 after buying an additional 7,753 shares during the period. Flow Traders U.S. LLC acquired a new stake in ArcelorMittal in the third quarter worth $369,000. Capstone Investment Advisors LLC acquired a new stake in ArcelorMittal in the third quarter valued at approximately $292,000. JB Capital Partners LP raised its holdings in ArcelorMittal by 17.1% during the third quarter. JB Capital Partners LP now owns 205,000 shares of the basic materials company's stock worth $5,383,000 after buying an additional 30,000 shares during the last quarter. Finally, FORA Capital LLC purchased a new stake in shares of ArcelorMittal in the third quarter worth approximately $445,000. 9.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Barclays raised shares of ArcelorMittal from an "equal weight" rating to an "overweight" rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft raised shares of ArcelorMittal from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $29.00 to $31.00 in a research report on Wednesday, August 28th. JPMorgan Chase & Co. downgraded shares of ArcelorMittal from an "overweight" rating to a "neutral" rating in a research report on Friday, October 11th. Finally, Bank of America raised shares of ArcelorMittal from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $30.00 to $32.90 in a report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $31.17.

View Our Latest Stock Analysis on MT

ArcelorMittal Trading Up 0.7 %

Shares of MT traded up $0.18 during mid-day trading on Tuesday, reaching $25.92. The company's stock had a trading volume of 667,796 shares, compared to its average volume of 1,599,809. ArcelorMittal S.A. has a 52 week low of $20.52 and a 52 week high of $29.01. The stock has a market cap of $20.87 billion, a PE ratio of -18.26, a P/E/G ratio of 0.60 and a beta of 1.74. The company's fifty day moving average price is $24.88 and its two-hundred day moving average price is $23.94. The company has a current ratio of 1.46, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16.

ArcelorMittal (NYSE:MT - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The basic materials company reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.58 by $0.05. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%. The business had revenue of $15.20 billion for the quarter, compared to analysts' expectations of $15.11 billion. During the same period in the previous year, the firm earned $1.10 EPS. The business's quarterly revenue was down 8.5% on a year-over-year basis. On average, analysts predict that ArcelorMittal S.A. will post 3.02 earnings per share for the current fiscal year.

ArcelorMittal Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ArcelorMittal (NYSE:MT)

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