Raymond James Financial Inc. Purchases New Shares in ArcelorMittal S.A. (NYSE:MT)

Raymond James Financial Inc. acquired a new position in shares of ArcelorMittal S.A. (NYSE:MT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 120,051 shares of the basic materials company's stock, valued at approximately $2,777,000.

A number of other large investors have also made changes to their positions in MT. Geneos Wealth Management Inc. grew its position in ArcelorMittal by 89.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company's stock worth $26,000 after buying an additional 536 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of ArcelorMittal by 68.5% in the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company's stock worth $34,000 after acquiring an additional 595 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of ArcelorMittal by 76.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company's stock worth $137,000 after purchasing an additional 2,586 shares in the last quarter. Park Avenue Securities LLC bought a new stake in shares of ArcelorMittal during the fourth quarter valued at approximately $212,000. Finally, Janney Montgomery Scott LLC acquired a new position in shares of ArcelorMittal in the fourth quarter valued at $233,000. Institutional investors and hedge funds own 9.29% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MT. Jefferies Financial Group downgraded shares of ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 price target on the stock. in a research note on Wednesday, March 26th. Morgan Stanley cut shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, ArcelorMittal has a consensus rating of "Hold" and an average price target of $32.43.

ArcelorMittal Price Performance

Shares of NYSE MT traded up $0.08 during midday trading on Wednesday, reaching $29.07. 1,003,624 shares of the company traded hands, compared to its average volume of 1,812,677. ArcelorMittal S.A. has a 12 month low of $20.52 and a 12 month high of $34.90. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35. The stock's 50-day simple moving average is $28.93 and its 200-day simple moving average is $25.91. The firm has a market cap of $23.82 billion, a PE ratio of 17.62, a PEG ratio of 0.14 and a beta of 1.79.

ArcelorMittal (NYSE:MT - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. As a group, equities analysts anticipate that ArcelorMittal S.A. will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Dividend Announcement

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Thursday, November 13th will be issued a $0.275 dividend. This represents a dividend yield of 1.5%. The ex-dividend date is Wednesday, November 12th. ArcelorMittal's payout ratio is currently 27.88%.

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.