US Bancorp DE Buys 717 Shares of ArcelorMittal S.A. (NYSE:MT)

US Bancorp DE raised its stake in ArcelorMittal S.A. (NYSE:MT) by 5.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 15,085 shares of the basic materials company’s stock after purchasing an additional 717 shares during the quarter. US Bancorp DE’s holdings in ArcelorMittal were worth $349,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in ArcelorMittal by 221.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company’s stock valued at $78,712,000 after purchasing an additional 2,344,020 shares during the last quarter. ABC Arbitrage SA bought a new position in ArcelorMittal during the 4th quarter valued at about $9,895,000. FMR LLC grew its holdings in ArcelorMittal by 46.7% during the 3rd quarter. FMR LLC now owns 1,317,833 shares of the basic materials company’s stock valued at $34,606,000 after purchasing an additional 419,465 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in ArcelorMittal by 90.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,335 shares of the basic materials company’s stock valued at $16,343,000 after purchasing an additional 295,682 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in ArcelorMittal by 128.0% during the 3rd quarter. Cerity Partners LLC now owns 464,315 shares of the basic materials company’s stock valued at $12,193,000 after purchasing an additional 260,633 shares during the last quarter. 9.29% of the stock is currently owned by institutional investors.

ArcelorMittal Price Performance

Shares of MT stock opened at $30.85 on Friday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59. The company’s 50-day simple moving average is $26.61 and its two-hundred day simple moving average is $25.09. ArcelorMittal S.A. has a one year low of $20.52 and a one year high of $34.90. The company has a market capitalization of $25.27 billion, a P/E ratio of 18.70, a P/E/G ratio of 0.14 and a beta of 1.79.

ArcelorMittal (NYSE:MT) last released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. As a group, equities analysts anticipate that ArcelorMittal S.A. will post 3.72 EPS for the current year.

Wall Street Analysts Forecast Growth

MT has been the topic of several analyst reports. Morgan Stanley downgraded shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Friday, February 14th. Bank of America upgraded shares of ArcelorMittal from a “neutral” rating to a “buy” rating and upped their target price for the stock from $30.00 to $32.90 in a research note on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, ArcelorMittal has a consensus rating of “Moderate Buy” and a consensus price target of $31.17.

ArcelorMittal Company Profile

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.