BNP Paribas Financial Markets Has $73,000 Stock Holdings in ArcelorMittal S.A. (NYSE:MT)

BNP Paribas Financial Markets lessened its position in ArcelorMittal S.A. (NYSE:MT - Free Report) by 92.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,768 shares of the basic materials company's stock after selling 33,247 shares during the period. BNP Paribas Financial Markets' holdings in ArcelorMittal were worth $73,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MT. FMR LLC lifted its holdings in ArcelorMittal by 46.7% during the 3rd quarter. FMR LLC now owns 1,317,833 shares of the basic materials company's stock valued at $34,606,000 after purchasing an additional 419,465 shares during the last quarter. Bank of Montreal Can raised its position in shares of ArcelorMittal by 23.1% in the third quarter. Bank of Montreal Can now owns 174,995 shares of the basic materials company's stock valued at $4,543,000 after purchasing an additional 32,834 shares during the period. Cerity Partners LLC lifted its stake in shares of ArcelorMittal by 128.0% during the 3rd quarter. Cerity Partners LLC now owns 464,315 shares of the basic materials company's stock worth $12,193,000 after buying an additional 260,633 shares during the last quarter. Eagle Asset Management Inc. boosted its holdings in shares of ArcelorMittal by 11.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 16,008 shares of the basic materials company's stock worth $418,000 after buying an additional 1,615 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in ArcelorMittal by 39.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 54,421 shares of the basic materials company's stock valued at $1,429,000 after buying an additional 15,285 shares during the last quarter. 9.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MT has been the subject of several research reports. JPMorgan Chase & Co. downgraded shares of ArcelorMittal from an "overweight" rating to a "neutral" rating in a research report on Friday, October 11th. Bank of America raised 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. Finally, Deutsche Bank Aktiengesellschaft upgraded ArcelorMittal from a "hold" rating to a "buy" rating and boosted their price target for the company from $29.00 to $31.00 in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $31.17.

ArcelorMittal Price Performance

Shares of ArcelorMittal stock traded up $0.01 on Friday, reaching $23.18. 1,264,477 shares of the stock were exchanged, compared to its average volume of 1,600,391. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 1.46. The firm has a market cap of $18.67 billion, a PE ratio of -16.44, a P/E/G ratio of 0.64 and a beta of 1.74. The firm's 50 day moving average is $24.76 and its 200-day moving average is $23.88. ArcelorMittal S.A. has a one year low of $20.52 and a one year high of $28.97.

ArcelorMittal (NYSE:MT - Get Free Report) last released its earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $15.20 billion during the quarter, compared to analysts' expectations of $15.11 billion. During the same period in the prior year, the company earned $1.10 earnings per share. The company's quarterly revenue was down 8.5% on a year-over-year basis. As a group, analysts anticipate that ArcelorMittal S.A. will post 2.93 EPS for the current fiscal year.

ArcelorMittal Profile

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.