Park Avenue Securities LLC Makes New Investment in ArcelorMittal S.A. (NYSE:MT)

Park Avenue Securities LLC acquired a new stake in ArcelorMittal S.A. (NYSE:MTFree Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 9,187 shares of the basic materials company’s stock, valued at approximately $212,000.

A number of other institutional investors also recently modified their holdings of MT. GAMMA Investing LLC increased its position in ArcelorMittal by 68.5% in the fourth quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock worth $34,000 after buying an additional 595 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in ArcelorMittal by 154.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 57,106 shares of the basic materials company’s stock valued at $1,500,000 after purchasing an additional 34,688 shares during the period. Natixis Advisors LLC grew its position in shares of ArcelorMittal by 171.4% during the 3rd quarter. Natixis Advisors LLC now owns 130,100 shares of the basic materials company’s stock valued at $3,416,000 after purchasing an additional 82,164 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of ArcelorMittal in the third quarter worth $642,000. Finally, Envestnet Asset Management Inc. raised its position in shares of ArcelorMittal by 61.0% in the second quarter. Envestnet Asset Management Inc. now owns 85,710 shares of the basic materials company’s stock worth $1,965,000 after buying an additional 32,469 shares in the last quarter. Institutional investors and hedge funds own 9.29% of the company’s stock.

ArcelorMittal Trading Up 3.7 %

Shares of NYSE:MT opened at $24.89 on Monday. The stock has a 50 day moving average of $23.90 and a 200 day moving average of $23.70. The company has a market cap of $20.39 billion, a PE ratio of -17.65, a price-to-earnings-growth ratio of 0.46 and a beta of 1.75. ArcelorMittal S.A. has a 12-month low of $20.52 and a 12-month high of $28.95. The company has a current ratio of 1.46, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16.

ArcelorMittal (NYSE:MTGet Free Report) last issued its earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. The company had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.11 billion. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the company earned $1.10 EPS. As a group, equities research analysts expect that ArcelorMittal S.A. will post 2.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MT shares. Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and increased their price objective for the company from $30.00 to $32.90 in a research report on Thursday, November 14th. JPMorgan Chase & Co. lowered shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a report on Friday, October 11th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, ArcelorMittal has an average rating of “Moderate Buy” and an average price target of $31.17.

Get Our Latest Stock Analysis on MT

ArcelorMittal Profile

(Free Report)

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.

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Institutional Ownership by Quarter for ArcelorMittal (NYSE:MT)

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