Crossmark Global Holdings Inc. Grows Stock Position in ArcelorMittal S.A. (NYSE:MT)

Crossmark Global Holdings Inc. increased its stake in ArcelorMittal S.A. (NYSE:MT - Free Report) by 168.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,766 shares of the basic materials company's stock after purchasing an additional 21,839 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in ArcelorMittal were worth $913,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Maple Rock Capital Partners Inc. purchased a new position in shares of ArcelorMittal during the 1st quarter worth approximately $36,406,000. Bank of New York Mellon Corp increased its position in ArcelorMittal by 2,038.3% during the second quarter. Bank of New York Mellon Corp now owns 822,426 shares of the basic materials company's stock worth $18,858,000 after buying an additional 783,965 shares in the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of ArcelorMittal in the second quarter worth $12,679,000. Mediolanum International Funds Ltd purchased a new stake in shares of ArcelorMittal in the third quarter valued at $3,042,000. Finally, Robotti Robert acquired a new stake in shares of ArcelorMittal during the first quarter valued at $1,435,000. Hedge funds and other institutional investors own 9.88% of the company's stock.

Analyst Ratings Changes

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

ArcelorMittal Trading Up 3.1 %

Shares of MT stock traded up $0.76 on Friday, reaching $25.25. 1,639,429 shares of the stock were exchanged, compared to its average volume of 1,611,229. The company has a quick ratio of 0.59, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The stock has a market cap of $20.33 billion, a P/E ratio of -17.91, a price-to-earnings-growth ratio of 0.46 and a beta of 1.77. The firm has a 50 day moving average of $24.40 and a two-hundred day moving average of $24.03. ArcelorMittal S.A. has a 1-year low of $20.52 and a 1-year high of $29.01.

ArcelorMittal (NYSE:MT - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The basic materials company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. The business had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.11 billion. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%. The company's revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.10 EPS. On average, research analysts anticipate that ArcelorMittal S.A. will post 3 EPS for the current year.

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.