Wells Fargo & Company MN grew its position in ArcelorMittal S.A. (NYSE:MT - Free Report) by 61.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 114,407 shares of the basic materials company's stock after acquiring an additional 43,425 shares during the quarter. Wells Fargo & Company MN's holdings in ArcelorMittal were worth $2,646,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in shares of ArcelorMittal by 221.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company's stock worth $78,712,000 after purchasing an additional 2,344,020 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in ArcelorMittal by 146.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,535,319 shares of the basic materials company's stock worth $35,512,000 after acquiring an additional 912,984 shares in the last quarter. ABC Arbitrage SA purchased a new position in shares of ArcelorMittal during the fourth quarter worth approximately $9,895,000. OLD Mission Capital LLC boosted its holdings in shares of ArcelorMittal by 145.8% in the fourth quarter. OLD Mission Capital LLC now owns 678,350 shares of the basic materials company's stock valued at $15,690,000 after purchasing an additional 402,402 shares during the period. Finally, Raymond James Financial Inc. bought a new position in ArcelorMittal in the fourth quarter worth approximately $2,777,000. 9.29% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have weighed in on MT shares. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of ArcelorMittal in a report on Monday, April 14th. Morgan Stanley lowered shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a report on Friday, February 14th. Jefferies Financial Group downgraded shares of ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 price objective for the company. in a research note on Wednesday, March 26th. Finally, The Goldman Sachs Group upgraded ArcelorMittal from a "neutral" rating to a "buy" rating and lifted their price target for the company from $29.00 to $31.70 in a report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $32.95.
Read Our Latest Research Report on MT
ArcelorMittal Stock Performance
Shares of NYSE:MT traded up $0.15 during midday trading on Friday, reaching $29.56. The company's stock had a trading volume of 1,693,553 shares, compared to its average volume of 1,867,501. The firm has a market capitalization of $24.22 billion, a PE ratio of 17.92, a P/E/G ratio of 0.14 and a beta of 1.60. The stock has a fifty day moving average of $28.99 and a 200 day moving average of $26.14. ArcelorMittal S.A. has a twelve month low of $20.52 and a twelve month high of $34.90. The company has a quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17.
ArcelorMittal (NYSE:MT - Get Free Report) last issued its earnings results on Thursday, February 6th. The basic materials company reported $0.52 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.09). ArcelorMittal had a return on equity of 4.31% and a net margin of 2.14%. On average, equities analysts expect that ArcelorMittal S.A. will post 3.72 EPS for the current fiscal year.
ArcelorMittal Dividend Announcement
The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, December 3rd. Investors of record on Thursday, November 13th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a yield of 1.5%. ArcelorMittal's payout ratio is 27.88%.
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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