Oppenheimer Asset Management Inc. Boosts Holdings in ArcelorMittal S.A. (NYSE:MT)

Oppenheimer Asset Management Inc. increased its holdings in ArcelorMittal S.A. (NYSE:MT) by 154.7% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 57,106 shares of the basic materials company’s stock after purchasing an additional 34,688 shares during the period. Oppenheimer Asset Management Inc.’s holdings in ArcelorMittal were worth $1,500,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Crossmark Global Holdings Inc. increased its stake in ArcelorMittal by 4.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,927 shares of the basic materials company’s stock worth $296,000 after purchasing an additional 572 shares during the period. Rhumbline Advisers raised its holdings in ArcelorMittal by 6.8% during the 2nd quarter. Rhumbline Advisers now owns 9,633 shares of the basic materials company’s stock valued at $221,000 after buying an additional 610 shares during the last quarter. Pzena Investment Management LLC boosted its position in ArcelorMittal by 4.0% during the 2nd quarter. Pzena Investment Management LLC now owns 25,085 shares of the basic materials company’s stock valued at $575,000 after buying an additional 963 shares during the period. Trust Co. of Toledo NA OH grew its holdings in ArcelorMittal by 5.6% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 26,135 shares of the basic materials company’s stock worth $599,000 after acquiring an additional 1,395 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of ArcelorMittal by 298.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock valued at $54,000 after acquiring an additional 1,771 shares during the last quarter. Institutional investors own 9.88% of the company’s stock.

Analyst Upgrades and Downgrades

MT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. downgraded ArcelorMittal from an “overweight” rating to a “neutral” rating in a report on Friday, October 11th. Bank of America raised ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their target price for the company from $30.00 to $32.90 in a research note on Thursday. Barclays raised ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft raised shares of ArcelorMittal from a “hold” rating to a “buy” rating and boosted their price objective for the company from $29.00 to $31.00 in a research report on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.17.

ArcelorMittal Trading Up 3.2 %

MT opened at $25.27 on Monday. The company has a quick ratio of 0.59, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. ArcelorMittal S.A. has a 52 week low of $20.52 and a 52 week high of $29.01. The stock has a market cap of $20.35 billion, a PE ratio of -17.92, a PEG ratio of 0.49 and a beta of 1.77. The business has a 50 day moving average of $24.46 and a 200-day moving average of $24.02.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Thursday, November 7th. The basic materials company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. The business had revenue of $15.20 billion during the quarter, compared to analyst estimates of $15.11 billion. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.10 earnings per share. Equities research analysts predict that ArcelorMittal S.A. will post 2.99 earnings per share for the current fiscal year.

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.