ArcelorMittal S.A. (NYSE:MT) Shares Acquired by Fmr LLC

Fmr LLC lifted its position in ArcelorMittal S.A. (NYSE:MT) by 46.7% during the third quarter, HoldingsChannel.com reports. The fund owned 1,317,833 shares of the basic materials company’s stock after acquiring an additional 419,465 shares during the period. Fmr LLC’s holdings in ArcelorMittal were worth $34,606,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in shares of 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 last quarter. Allspring Global Investments Holdings LLC lifted its position in 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 worth $54,000 after buying an additional 1,771 shares in the last quarter. CWM LLC boosted its stake in ArcelorMittal by 378.2% during the second quarter. CWM LLC now owns 4,930 shares of the basic materials company’s stock worth $113,000 after buying an additional 3,899 shares during the last quarter. SG Americas Securities LLC purchased a new stake in ArcelorMittal in the 2nd quarter valued at $156,000. Finally, Rhumbline Advisers increased its stake in shares of ArcelorMittal by 6.8% in the 2nd quarter. Rhumbline Advisers now owns 9,633 shares of the basic materials company’s stock worth $221,000 after acquiring an additional 610 shares during the last quarter. 9.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MT. Barclays raised shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a report on Monday, August 19th. JPMorgan Chase & Co. cut shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft raised shares of ArcelorMittal from a “hold” rating to a “buy” rating and lifted their price target for the company from $29.00 to $31.00 in a research report on Wednesday, August 28th. Finally, Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $30.00 to $32.90 in a research report on Thursday, November 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. Based on data from MarketBeat.com, ArcelorMittal presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.17.

ArcelorMittal Stock Down 0.3 %

Shares of NYSE MT opened at $25.29 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. The business’s 50 day moving average is $24.89 and its two-hundred day moving average is $23.94. ArcelorMittal S.A. has a 52-week low of $20.52 and a 52-week high of $29.01. The firm has a market cap of $20.37 billion, a price-to-earnings ratio of -17.94, a PEG ratio of 0.59 and a beta of 1.74.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm had revenue of $15.20 billion for 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%. ArcelorMittal’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 EPS. Research analysts predict that ArcelorMittal S.A. will post 3.02 EPS for the current year.

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.