Russell Investments Group Ltd. Increases Position in ArcelorMittal S.A. (NYSE:MT)

Russell Investments Group Ltd. raised its position in shares of ArcelorMittal S.A. (NYSE:MT) by 53.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,180 shares of the basic materials company’s stock after purchasing an additional 3,549 shares during the period. Russell Investments Group Ltd.’s holdings in ArcelorMittal were worth $235,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MT. Envestnet Asset Management Inc. lifted its position in ArcelorMittal by 14.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 348,819 shares of the basic materials company’s stock worth $8,068,000 after buying an additional 45,255 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of ArcelorMittal by 61.2% during the fourth quarter. Wells Fargo & Company MN now owns 114,407 shares of the basic materials company’s stock worth $2,646,000 after acquiring an additional 43,425 shares in the last quarter. OLD Mission Capital LLC boosted its stake in shares of ArcelorMittal by 145.8% in the 4th quarter. OLD Mission Capital LLC now owns 678,350 shares of the basic materials company’s stock valued at $15,690,000 after purchasing an additional 402,402 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of ArcelorMittal by 15.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 24,366 shares of the basic materials company’s stock valued at $564,000 after purchasing an additional 3,231 shares during the last quarter. Finally, Orion Portfolio Solutions LLC bought a new position in shares of ArcelorMittal during the 4th quarter valued at $259,000. 9.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on MT shares. Morgan Stanley lowered shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Jefferies Financial Group lowered ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 price target on the stock. in a research report on Wednesday, March 26th. The Goldman Sachs Group raised ArcelorMittal from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $29.00 to $31.70 in a research note on Thursday, April 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of ArcelorMittal in a research note on Monday, April 14th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.95.

ArcelorMittal Trading Up 1.8 %

MT opened at $29.41 on Friday. ArcelorMittal S.A. has a one year low of $20.52 and a one year high of $34.90. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59. The business has a 50 day simple moving average of $28.98 and a two-hundred day simple moving average of $26.09. The firm has a market capitalization of $24.09 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 0.14 and a beta of 1.60.

ArcelorMittal (NYSE:MT) last announced its earnings results on Thursday, February 6th. The basic materials company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. Analysts predict that ArcelorMittal S.A. will post 3.72 EPS for the current year.

ArcelorMittal Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Thursday, November 13th will be paid a dividend of $0.275 per share. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, November 12th. ArcelorMittal’s payout ratio is 27.88%.

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.