Comerica Bank bought a new stake in ArcelorMittal SA (NYSE:MT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 60,454 shares of the basic materials company’s stock, valued at approximately $1,747,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of MT. Quadrant Capital Group LLC increased its stake in ArcelorMittal by 24.9% during the second quarter. Quadrant Capital Group LLC now owns 7,412 shares of the basic materials company’s stock worth $157,000 after purchasing an additional 1,479 shares during the period. Rathbone Brothers plc purchased a new stake in shares of ArcelorMittal during the third quarter worth approximately $202,000. Sawtooth Solutions LLC purchased a new stake in shares of ArcelorMittal during the second quarter worth approximately $206,000. Advisor Group Inc. increased its stake in shares of ArcelorMittal by 160.6% during the second quarter. Advisor Group Inc. now owns 10,147 shares of the basic materials company’s stock worth $230,000 after buying an additional 6,253 shares during the period. Finally, Stifel Financial Corp purchased a new stake in shares of ArcelorMittal during the second quarter worth approximately $237,000. 4.09% of the stock is currently owned by institutional investors.
ArcelorMittal SA (MT) traded down $0.45 during mid-day trading on Friday, hitting $30.64. The stock had a trading volume of 2,690,000 shares, compared to its average volume of 3,730,000. The firm has a market capitalization of $31,450.00, a P/E ratio of 7.70, a P/E/G ratio of 0.70 and a beta of 2.20. ArcelorMittal SA has a 1-year low of $19.59 and a 1-year high of $31.98. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.21 and a quick ratio of 0.44.
ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Friday, November 10th. The basic materials company reported $1.18 earnings per share 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 business had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $17.08 billion. During the same period in the prior year, the company earned $0.22 earnings per share. The company’s revenue was up 21.5% compared to the same quarter last year. equities research analysts expect that ArcelorMittal SA will post 3.89 EPS for the current fiscal year.
A number of analysts recently weighed in on MT shares. UBS restated a “buy” rating on shares of ArcelorMittal in a research note on Thursday, October 26th. Zacks Investment Research upgraded shares of ArcelorMittal from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 25th. Cowen set a $32.00 price target on shares of ArcelorMittal and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Jefferies Group reiterated a “buy” rating on shares of ArcelorMittal in a research note on Monday, September 18th. Finally, TheStreet lowered shares of ArcelorMittal from a “b-” rating to a “c+” rating in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price 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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