Cerity Partners LLC Has $12.19 Million Stake in ArcelorMittal S.A. (NYSE:MT)

Cerity Partners LLC boosted its position in shares of ArcelorMittal S.A. (NYSE:MT - Free Report) by 128.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 464,315 shares of the basic materials company's stock after purchasing an additional 260,633 shares during the period. Cerity Partners LLC owned about 0.06% of ArcelorMittal worth $12,193,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MT. Bank of New York Mellon Corp grew its position in ArcelorMittal by 2,038.3% in the second 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 purchasing an additional 783,965 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of ArcelorMittal by 90.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,335 shares of the basic materials company's stock valued at $16,343,000 after acquiring an additional 295,682 shares in the last quarter. Encompass Capital Advisors LLC bought a new position in shares of ArcelorMittal in the 2nd quarter valued at about $12,679,000. Van ECK Associates Corp increased its position in shares of ArcelorMittal by 1.8% in the second quarter. Van ECK Associates Corp now owns 225,420 shares of the basic materials company's stock valued at $5,169,000 after acquiring an additional 3,994 shares during the last quarter. Finally, Pathstone Holdings LLC raised its holdings in ArcelorMittal by 136.9% during the third quarter. Pathstone Holdings LLC now owns 178,035 shares of the basic materials company's stock worth $4,675,000 after acquiring an additional 102,876 shares in the last quarter. Institutional investors and hedge funds own 9.88% of the company's stock.

ArcelorMittal Stock Performance

Shares of NYSE MT traded up $0.62 during mid-day trading on Wednesday, reaching $24.56. 1,241,010 shares of the company were exchanged, compared to its average volume of 1,607,887. ArcelorMittal S.A. has a twelve month low of $20.52 and a twelve month high of $29.01. The stock has a market capitalization of $19.78 billion, a P/E ratio of -17.42, a P/E/G ratio of 0.60 and a beta of 1.77. The company's 50-day simple moving average is $24.84 and its 200-day simple moving average is $23.98. The company has a quick ratio of 0.59, a current ratio of 1.46 and a debt-to-equity ratio of 0.16.

ArcelorMittal (NYSE:MT - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The firm had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.11 billion. During the same period last year, the business posted $1.10 earnings per share. The business's revenue for the quarter was down 8.5% compared to the same quarter last year. As a group, research analysts predict that ArcelorMittal S.A. will post 2.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

MT has been the subject of a number of analyst reports. Barclays upgraded ArcelorMittal from an "equal weight" rating to an "overweight" rating in a research note on Monday, August 19th. Bank of America upgraded shares of ArcelorMittal from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $30.00 to $32.90 in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft upgraded shares of ArcelorMittal from a "hold" rating to a "buy" rating and increased their price target for the company from $29.00 to $31.00 in a research note on Wednesday, August 28th. Finally, JPMorgan Chase & Co. lowered shares of ArcelorMittal from an "overweight" rating to a "neutral" rating in a research note on Friday, October 11th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $31.17.

ArcelorMittal Company 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.