ArcelorMittal S.A. (NYSE:MT) Shares Bought by Eagle Asset Management Inc.

Eagle Asset Management Inc. increased its position in ArcelorMittal S.A. (NYSE:MT) by 11.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,008 shares of the basic materials company’s stock after buying an additional 1,615 shares during the quarter. Eagle Asset Management Inc.’s holdings in ArcelorMittal were worth $418,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in ArcelorMittal by 39.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 54,421 shares of the basic materials company’s stock valued at $1,429,000 after acquiring an additional 15,285 shares during the last quarter. Pzena Investment Management LLC raised its holdings in shares of ArcelorMittal by 32.3% in the 3rd quarter. Pzena Investment Management LLC now owns 33,198 shares of the basic materials company’s stock worth $872,000 after purchasing an additional 8,113 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in ArcelorMittal by 90.5% during the third 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. Pathstone Holdings LLC boosted its holdings in ArcelorMittal by 136.9% during the third quarter. Pathstone Holdings LLC now owns 178,035 shares of the basic materials company’s stock worth $4,675,000 after buying an additional 102,876 shares in the last quarter. Finally, Natixis Advisors LLC grew its position in ArcelorMittal by 171.4% in the third quarter. Natixis Advisors LLC now owns 130,100 shares of the basic materials company’s stock worth $3,416,000 after buying an additional 82,164 shares during the last quarter. Institutional investors own 9.88% of the company’s stock.

ArcelorMittal Stock Down 1.0 %

Shares of ArcelorMittal stock opened at $24.86 on Tuesday. ArcelorMittal S.A. has a 1 year low of $20.52 and a 1 year high of $29.01. The company has a market cap of $20.02 billion, a P/E ratio of -17.63, a P/E/G ratio of 0.61 and a beta of 1.77. The company has a current ratio of 1.46, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average price of $24.81 and a 200 day moving average price of $24.00.

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

Wall Street Analyst Weigh In

MT has been the subject of several research reports. JPMorgan Chase & Co. lowered ArcelorMittal from an “overweight” rating to a “neutral” rating in a research note on Friday, October 11th. Bank of America raised ArcelorMittal from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $30.00 to $32.90 in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised shares of ArcelorMittal from a “hold” rating to a “buy” rating and upped their price objective for the company from $29.00 to $31.00 in a research note on Wednesday, August 28th. Finally, Barclays raised shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research report on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, ArcelorMittal has an average rating of “Moderate Buy” and an average price target of $31.17.

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.