Trust Co. of Toledo NA OH Buys 2,227 Shares of ArcelorMittal S.A. (NYSE:MT)

Trust Co. of Toledo NA OH grew its stake in shares of ArcelorMittal S.A. (NYSE:MT) by 8.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,362 shares of the basic materials company’s stock after acquiring an additional 2,227 shares during the period. Trust Co. of Toledo NA OH’s holdings in ArcelorMittal were worth $745,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in ArcelorMittal by 1,820.0% during the 2nd quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 1,911 shares during the period. Mather Group LLC. raised its holdings in shares of ArcelorMittal by 1,388.6% in the second quarter. Mather Group LLC. now owns 2,218 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 2,069 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in ArcelorMittal by 298.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock worth $54,000 after acquiring an additional 1,771 shares during the period. Headlands Technologies LLC bought a new position in ArcelorMittal during the 1st quarter worth about $71,000. Finally, CWM LLC grew its holdings in ArcelorMittal by 378.2% during the 2nd quarter. CWM LLC now owns 4,930 shares of the basic materials company’s stock worth $113,000 after acquiring an additional 3,899 shares in the last quarter. Institutional investors own 9.88% of the company’s stock.

ArcelorMittal Stock Performance

MT stock opened at $25.42 on Friday. ArcelorMittal S.A. has a one year low of $20.52 and a one year high of $29.01. The firm has a market cap of $20.47 billion, a price-to-earnings ratio of 28.56, a PEG ratio of 0.44 and a beta of 1.76. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.66 and a current ratio of 1.53. The firm has a 50-day simple moving average of $23.08 and a two-hundred day simple moving average of $24.46.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, August 1st. The basic materials company reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.49). ArcelorMittal had a negative net margin of 0.93% and a positive return on equity of 6.00%. The firm had revenue of $16.25 billion for the quarter, compared to analysts’ expectations of $16.32 billion. During the same period in the previous year, the company earned $2.20 EPS. The company’s revenue was down 12.7% on a year-over-year basis. On average, equities analysts forecast that ArcelorMittal S.A. will post 3.14 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and boosted their price target for the company from $29.00 to $31.00 in a report on Wednesday, August 28th. Barclays upgraded ArcelorMittal from an “equal weight” rating to an “overweight” rating in a report on Monday, August 19th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $30.30.

ArcelorMittal 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.