PNC Financial Services Group Inc. Has $210,000 Stock Position in ArcelorMittal S.A. (NYSE:MT)

PNC Financial Services Group Inc. increased its stake in ArcelorMittal S.A. (NYSE:MT) by 23.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,076 shares of the basic materials company’s stock after purchasing an additional 1,702 shares during the period. PNC Financial Services Group Inc.’s holdings in ArcelorMittal were worth $210,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Geneos Wealth Management Inc. boosted its holdings in shares of ArcelorMittal by 89.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 536 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of ArcelorMittal by 68.5% during the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock worth $34,000 after buying an additional 595 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in ArcelorMittal by 76.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company’s stock valued at $137,000 after buying an additional 2,586 shares in the last quarter. Callan Family Office LLC acquired a new stake in ArcelorMittal in the fourth quarter valued at about $207,000. Finally, Park Avenue Securities LLC acquired a new position in ArcelorMittal during the fourth quarter worth about $212,000. Institutional investors and hedge funds own 9.29% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley downgraded shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 14th. Three equities 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, the company currently has an average rating of “Moderate Buy” and an average price target of $31.17.

ArcelorMittal Trading Down 1.3 %

NYSE MT opened at $31.60 on Monday. The company has a market cap of $25.88 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 0.14 and a beta of 1.79. ArcelorMittal S.A. has a twelve month low of $20.52 and a twelve month high of $34.90. The company has a quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. The business’s fifty day moving average is $27.84 and its 200 day moving average is $25.50.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 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, sell-side analysts expect that ArcelorMittal S.A. will post 3.72 EPS for the current fiscal year.

ArcelorMittal Announces Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Thursday, November 13th will be issued a dividend of $0.275 per share. This represents a yield of 1.5%. The ex-dividend date is Wednesday, November 12th. ArcelorMittal’s payout ratio is 27.88%.

About ArcelorMittal

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.