Canandaigua National Bank & Trust Co. bought a new position in ArcelorMittal SA (NYSE:MT) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 6,875 shares of the basic materials company’s stock, valued at approximately $212,000.
A number of other hedge funds also recently modified their holdings of MT. Benjamin F. Edwards & Company Inc. bought a new position in ArcelorMittal in the second quarter worth approximately $123,000. LPL Financial LLC raised its position in ArcelorMittal by 23.4% in the first quarter. LPL Financial LLC now owns 8,501 shares of the basic materials company’s stock worth $270,000 after acquiring an additional 1,610 shares during the period. Regentatlantic Capital LLC bought a new position in ArcelorMittal in the third quarter worth approximately $279,000. Greenleaf Trust raised its position in ArcelorMittal by 18.9% in the second quarter. Greenleaf Trust now owns 9,882 shares of the basic materials company’s stock worth $284,000 after acquiring an additional 1,572 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in ArcelorMittal in the second quarter worth approximately $305,000. Institutional investors own 3.35% of the company’s stock.
Several research firms have weighed in on MT. ValuEngine downgraded shares of ArcelorMittal from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Citigroup reiterated a “buy” rating on shares of ArcelorMittal in a research report on Thursday, July 12th. Zacks Investment Research downgraded shares of ArcelorMittal from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 4th. Credit Suisse Group reiterated a “buy” rating on shares of ArcelorMittal in a research report on Thursday, August 2nd. Finally, Deutsche Bank restated a “buy” rating on shares of ArcelorMittal in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $37.00.
Shares of MT stock opened at $25.81 on Wednesday. The firm has a market cap of $26.01 billion, a PE ratio of 4.83, a PEG ratio of 2.59 and a beta of 2.28. ArcelorMittal SA has a one year low of $23.80 and a one year high of $37.50. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.60 and a current ratio of 1.38.
ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Thursday, November 1st. The basic materials company reported $1.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.38 by ($0.11). The firm had revenue of $18.52 billion for the quarter, compared to the consensus estimate of $19.33 billion. ArcelorMittal had a net margin of 6.62% and a return on equity of 12.59%. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.18 earnings per share. On average, equities analysts forecast that ArcelorMittal SA will post 5.35 EPS for the current fiscal year.
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ArcelorMittal Company Profile
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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