FMR LLC grew its position in ArcelorMittal S.A. (NYSE:MT - Free Report) by 46.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,317,833 shares of the basic materials company's stock after purchasing an additional 419,465 shares during the quarter. FMR LLC owned approximately 0.16% of ArcelorMittal worth $34,606,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Crossmark Global Holdings Inc. increased its holdings in ArcelorMittal by 4.6% during the second quarter. Crossmark Global Holdings Inc. now owns 12,927 shares of the basic materials company's stock worth $296,000 after buying an additional 572 shares during the last quarter. Rhumbline Advisers boosted its position in ArcelorMittal by 6.8% during the second quarter. Rhumbline Advisers now owns 9,633 shares of the basic materials company's stock worth $221,000 after purchasing an additional 610 shares during the period. Pzena Investment Management LLC boosted its position in ArcelorMittal by 4.0% during the second quarter. Pzena Investment Management LLC now owns 25,085 shares of the basic materials company's stock worth $575,000 after purchasing an additional 963 shares during the period. Eagle Asset Management Inc. boosted its position in ArcelorMittal by 11.2% during the third quarter. Eagle Asset Management Inc. now owns 16,008 shares of the basic materials company's stock worth $418,000 after purchasing an additional 1,615 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in ArcelorMittal by 298.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company's stock worth $54,000 after purchasing an additional 1,771 shares during the period. 9.29% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have weighed in on MT. Bank of America upgraded shares of ArcelorMittal from a "neutral" rating to a "buy" rating and increased their target price for the stock from $30.00 to $32.90 in a research report on Thursday, November 14th. JPMorgan Chase & Co. lowered shares of ArcelorMittal from an "overweight" rating to a "neutral" rating in a research report on Friday, October 11th. Barclays upgraded shares of ArcelorMittal from an "equal weight" rating to an "overweight" rating in a research report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of ArcelorMittal from a "hold" rating to a "buy" rating and raised their price objective for the company from $29.00 to $31.00 in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $31.17.
Check Out Our Latest Analysis on MT
ArcelorMittal Price Performance
Shares of MT stock traded up $0.46 during trading hours on Monday, reaching $25.75. The stock had a trading volume of 1,731,356 shares, compared to its average volume of 1,603,880. ArcelorMittal S.A. has a 12 month low of $20.52 and a 12 month high of $29.01. The firm has a market capitalization of $20.73 billion, a PE ratio of -18.26, a PEG ratio of 0.60 and a beta of 1.74. The company has a current ratio of 1.46, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. The stock's fifty day simple moving average is $24.88 and its 200 day simple moving average is $23.94.
ArcelorMittal (NYSE:MT - Get Free Report) last announced its earnings results 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. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The business had revenue of $15.20 billion during the quarter, compared to analyst estimates of $15.11 billion. During the same period in the previous year, the business posted $1.10 earnings per share. ArcelorMittal's revenue for the quarter was down 8.5% on a year-over-year basis. On average, equities research analysts predict that ArcelorMittal S.A. will post 3.02 EPS for the current year.
About ArcelorMittal
(
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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