Comerica Bank bought a new stake in ArcelorMittal SA (NYSE:MT) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 60,454 shares of the basic materials company’s stock, valued at approximately $1,747,000.
Other large investors have also recently modified their holdings of the company. Cambiar Investors LLC grew its position in shares of ArcelorMittal by 4.7% during the 3rd quarter. Cambiar Investors LLC now owns 5,283,658 shares of the basic materials company’s stock worth $136,107,000 after buying an additional 237,033 shares during the period. TIAA CREF Investment Management LLC acquired a new position in ArcelorMittal during the 2nd quarter worth approximately $13,408,000. State Street Corp acquired a new position in ArcelorMittal during the 2nd quarter worth approximately $8,658,000. Quantitative Investment Management LLC bought a new stake in shares of ArcelorMittal during the 2nd quarter worth approximately $6,605,000. Finally, Exane Derivatives raised its stake in shares of ArcelorMittal by 4.5% during the 3rd quarter. Exane Derivatives now owns 229,462 shares of the basic materials company’s stock worth $5,910,000 after purchasing an additional 9,872 shares in the last quarter. Institutional investors own 4.09% of the company’s stock.
ArcelorMittal SA (MT) opened at $31.31 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.44 and a debt-to-equity ratio of 0.24. ArcelorMittal SA has a 1 year low of $19.59 and a 1 year high of $31.33. The stock has a market capitalization of $31,820.00, a P/E ratio of 7.87, a P/E/G ratio of 0.72 and a beta of 2.20.
ArcelorMittal (NYSE:MT) last issued its earnings results on Friday, November 10th. The basic materials company reported $1.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.32. ArcelorMittal had a return on equity of 11.57% and a net margin of 6.04%. The firm had revenue of $17.64 billion for the quarter, compared to analyst estimates of $17.08 billion. During the same period in the previous year, the company posted $0.22 earnings per share. The business’s revenue was up 21.5% on a year-over-year basis. research analysts forecast that ArcelorMittal SA will post 3.89 EPS for the current year.
A number of research firms recently weighed in on MT. TheStreet cut ArcelorMittal from a “b-” rating to a “c+” rating in a research note on Friday, November 10th. Zacks Investment Research upgraded ArcelorMittal from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Deutsche Bank reissued a “buy” rating on shares of ArcelorMittal in a report on Friday, November 17th. UBS raised ArcelorMittal from a “neutral” rating to a “buy” rating in a report on Friday, October 20th. Finally, Goldman Sachs Group reaffirmed a “buy” rating on shares of ArcelorMittal in a research note on Friday, November 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $33.55.
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ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.
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