Ameriprise Financial Inc. decreased its position in shares of ArcelorMittal (NYSE:MT) by 66.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,032 shares of the basic materials company’s stock after selling 35,470 shares during the quarter. Ameriprise Financial Inc.’s holdings in ArcelorMittal were worth $409,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Exane Derivatives increased its holdings in shares of ArcelorMittal by 67.2% during the second quarter. Exane Derivatives now owns 219,590 shares of the basic materials company’s stock valued at $4,991,000 after acquiring an additional 88,276 shares in the last quarter. Cambiar Investors LLC bought a new stake in shares of ArcelorMittal during the second quarter valued at approximately $114,710,000. Oppenheimer & Co. Inc. bought a new stake in shares of ArcelorMittal during the second quarter valued at approximately $998,000. BB&T Corp increased its holdings in shares of ArcelorMittal by 0.4% during the second quarter. BB&T Corp now owns 35,799 shares of the basic materials company’s stock valued at $813,000 after acquiring an additional 137 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of ArcelorMittal by 35.8% during the first quarter. Bank of America Corp DE now owns 937,168 shares of the basic materials company’s stock valued at $7,826,000 after acquiring an additional 247,026 shares in the last quarter. Hedge funds and other institutional investors own 3.62% of the company’s stock.
ArcelorMittal (NYSE MT) opened at $29.02 on Tuesday. ArcelorMittal has a 1 year low of $19.59 and a 1 year high of $30.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.42 and a current ratio of 1.23. The company has a market capitalization of $29,682.24, a price-to-earnings ratio of 7.32 and a beta of 2.19.
ArcelorMittal (NYSE:MT) last issued its quarterly earnings data on Friday, November 10th. The basic materials company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.32. The business had revenue of $17.64 billion for the quarter, compared to analysts’ expectations of $17.08 billion. ArcelorMittal had a return on equity of 11.94% and a net margin of 6.04%. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.22 EPS. sell-side analysts forecast that ArcelorMittal will post 3.3 earnings per share for the current fiscal year.
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MT has been the subject of several recent research reports. Cowen and Company upped their price target on ArcelorMittal from $27.00 to $32.00 and gave the stock a “market perform” rating in a report on Monday. ValuEngine downgraded ArcelorMittal from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 26th. Jefferies Group LLC reiterated a “buy” rating and set a $34.00 price target (up previously from $31.50) on shares of ArcelorMittal in a report on Tuesday, July 18th. Zacks Investment Research downgraded ArcelorMittal from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, SBG Securities downgraded ArcelorMittal from a “buy” rating to a “hold” rating in a research note on Sunday, July 30th. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the stock. ArcelorMittal currently has a consensus rating of “Buy” and an average target price of $33.55.
ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.
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