Oppenheimer Asset Management Inc. Has $1.50 Million Stock Position in ArcelorMittal S.A. (NYSE:MT)

Oppenheimer Asset Management Inc. raised its holdings in ArcelorMittal S.A. (NYSE:MT - Free Report) by 154.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,106 shares of the basic materials company's stock after purchasing an additional 34,688 shares during the period. Oppenheimer Asset Management Inc.'s holdings in ArcelorMittal were worth $1,500,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. grew its stake in ArcelorMittal by 1,820.0% during the 2nd quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company's stock worth $46,000 after buying an additional 1,911 shares during the last quarter. Mather Group LLC. grew its stake in shares of ArcelorMittal by 1,388.6% in the second quarter. Mather Group LLC. now owns 2,218 shares of the basic materials company's stock worth $51,000 after purchasing an additional 2,069 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake 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 valued at $54,000 after buying an additional 1,771 shares in the last quarter. CWM LLC boosted its stake in ArcelorMittal by 378.2% during the second quarter. CWM LLC now owns 4,930 shares of the basic materials company's stock valued at $113,000 after buying an additional 3,899 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in ArcelorMittal during the second quarter valued at about $156,000. 9.88% of the stock is owned by institutional investors and hedge funds.

ArcelorMittal Stock Performance

Shares of MT stock traded up $0.30 during mid-day trading on Monday, reaching $25.57. The stock had a trading volume of 958,549 shares, compared to its average volume of 1,611,737. The firm's 50 day simple moving average is $24.46 and its 200 day simple moving average is $24.02. 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 S.A. has a one year low of $20.52 and a one year high of $29.01. The firm has a market cap of $20.59 billion, a PE ratio of -17.92, a P/E/G ratio of 0.49 and a beta of 1.77.

ArcelorMittal (NYSE:MT - Get Free Report) last posted its earnings results on Thursday, November 7th. The basic materials company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.11 billion. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%. ArcelorMittal's revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the company earned $1.10 EPS. On average, analysts forecast that ArcelorMittal S.A. will post 2.99 EPS for the current year.

Analyst Ratings Changes

MT has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised ArcelorMittal from a "hold" rating to a "buy" rating and increased their price objective for the stock from $29.00 to $31.00 in a research note on Wednesday, August 28th. Barclays raised ArcelorMittal from an "equal weight" rating to an "overweight" rating in a research report on Monday, August 19th. JPMorgan Chase & Co. lowered ArcelorMittal from an "overweight" rating to a "neutral" rating in a research report on Friday, October 11th. Finally, Bank of America raised ArcelorMittal from a "neutral" rating to a "buy" rating and upped their target price for the stock from $30.00 to $32.90 in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.