MML Investors Services LLC boosted its stake in ArcelorMittal (NYSE:MT) by 11.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,428 shares of the basic materials company’s stock after acquiring an additional 2,107 shares during the quarter. MML Investors Services LLC’s holdings in ArcelorMittal were worth $660,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its position in ArcelorMittal by 32.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,341,298 shares of the basic materials company’s stock valued at $60,312,000 after acquiring an additional 567,841 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in ArcelorMittal by 206.3% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 43,483 shares of the basic materials company’s stock valued at $1,120,000 after acquiring an additional 29,287 shares in the last quarter. Sei Investments Co. lifted its position in ArcelorMittal by 51,870.6% in the 3rd quarter. Sei Investments Co. now owns 26,505 shares of the basic materials company’s stock valued at $682,000 after acquiring an additional 26,454 shares in the last quarter. TD Asset Management Inc. lifted its position in ArcelorMittal by 56.9% in the 3rd quarter. TD Asset Management Inc. now owns 42,733 shares of the basic materials company’s stock valued at $1,101,000 after acquiring an additional 15,500 shares in the last quarter. Finally, US Bancorp DE lifted its position in ArcelorMittal by 28.6% in the 4th quarter. US Bancorp DE now owns 125,950 shares of the basic materials company’s stock valued at $4,070,000 after acquiring an additional 28,008 shares in the last quarter. 4.80% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have issued reports on the stock. Credit Suisse Group reiterated a “buy” rating on shares of ArcelorMittal in a research note on Thursday. Zacks Investment Research upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Tuesday. Bank of America upgraded shares of ArcelorMittal from an “underperform” rating to a “neutral” rating in a research note on Wednesday, January 10th. JPMorgan Chase reiterated a “buy” rating on shares of ArcelorMittal in a research note on Wednesday, March 7th. Finally, ValuEngine lowered shares of ArcelorMittal from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 1st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. ArcelorMittal currently has a consensus rating of “Buy” and an average target price of $36.00.
Shares of ArcelorMittal stock traded down $1.09 during trading on Friday, hitting $31.08. 2,839,308 shares of the stock were exchanged, compared to its average volume of 3,368,557. The firm has a market capitalization of $32,810.70, a PE ratio of 5.82, a P/E/G ratio of 0.64 and a beta of 2.38. ArcelorMittal has a 1-year low of $19.59 and a 1-year high of $37.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.41.
ArcelorMittal (NYSE:MT) last released its quarterly earnings data on Wednesday, January 31st. The basic materials company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.21. The company had revenue of $17.71 billion for the quarter, compared to analyst estimates of $18.34 billion. ArcelorMittal had a net margin of 6.65% and a return on equity of 12.03%. During the same period in the previous year, the business earned $0.39 EPS. analysts expect that ArcelorMittal will post 3.79 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 13th. Stockholders of record on Friday, May 18th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, May 17th. This represents a $0.40 annualized dividend and a dividend yield of 1.29%.
ArcelorMittal declared that its board has authorized a stock repurchase program on Tuesday, March 13th that permits the company to buyback $280.00 million in outstanding shares. This buyback authorization permits the basic materials company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
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ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through NAFTA, Brazil, Europe, ACIS, and Mining segments. The company produces finished and semi-finished steel products with various specifications.
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