Raymond James & Associates Has $1.39 Million Stake in ArcelorMittal S.A. (NYSE:MT)

Raymond James & Associates boosted its holdings in ArcelorMittal S.A. (NYSE:MT) by 12.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,841 shares of the basic materials company’s stock after purchasing an additional 5,505 shares during the quarter. Raymond James & Associates’ holdings in ArcelorMittal were worth $1,390,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its position in shares of ArcelorMittal by 1,300.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,349,935 shares of the basic materials company’s stock valued at $171,251,000 after buying an additional 4,967,981 shares in the last quarter. BlackRock Inc. raised its position in shares of ArcelorMittal by 96.3% in the 1st quarter. BlackRock Inc. now owns 3,706,360 shares of the basic materials company’s stock valued at $118,642,000 after buying an additional 1,818,361 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of ArcelorMittal in the 1st quarter valued at approximately $54,502,000. Citigroup Inc. raised its position in shares of ArcelorMittal by 15,291.6% in the 1st quarter. Citigroup Inc. now owns 1,007,226 shares of the basic materials company’s stock valued at $30,338,000 after buying an additional 1,000,682 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of ArcelorMittal by 408.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 974,988 shares of the basic materials company’s stock valued at $4,005,000 after buying an additional 783,241 shares in the last quarter. Institutional investors and hedge funds own 4.56% of the company’s stock.

ArcelorMittal Trading Up 4.9 %

MT opened at $23.11 on Friday. ArcelorMittal S.A. has a fifty-two week low of $21.14 and a fifty-two week high of $32.49. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 0.68. The firm has a market capitalization of $18.61 billion, a price-to-earnings ratio of 4.74 and a beta of 1.88. The company’s 50 day moving average price is $24.41 and its two-hundred day moving average price is $26.24.

Analyst Upgrades and Downgrades

MT has been the subject of several analyst reports. StockNews.com cut shares of ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Saturday, October 21st. Bank of America lowered shares of ArcelorMittal from a “buy” rating to a “neutral” rating in a report on Wednesday, October 18th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $31.33.

ArcelorMittal Profile

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the Americas, Europe, Asia, and Africa. 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.