Charles Schwab Investment Management Inc. Has $2.19 Million Position in ArcelorMittal $MT

Charles Schwab Investment Management Inc. increased its stake in ArcelorMittal (NYSE:MT) by 12.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 76,010 shares of the basic materials company’s stock after purchasing an additional 8,448 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in ArcelorMittal were worth $2,193,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. First Trust Advisors LP bought a new stake in shares of ArcelorMittal during the fourth quarter valued at approximately $400,000. Tower Research Capital LLC TRC grew its position in ArcelorMittal by 94.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,408 shares of the basic materials company’s stock valued at $218,000 after acquiring an additional 4,567 shares during the period. Northern Trust Corp grew its position in ArcelorMittal by 31.7% in the fourth quarter. Northern Trust Corp now owns 1,153,924 shares of the basic materials company’s stock valued at $26,690,000 after acquiring an additional 277,891 shares during the period. Ameriprise Financial Inc. grew its position in ArcelorMittal by 25.0% in the fourth quarter. Ameriprise Financial Inc. now owns 23,540 shares of the basic materials company’s stock valued at $544,000 after acquiring an additional 4,707 shares during the period. Finally, BNP Paribas Financial Markets grew its position in ArcelorMittal by 76.2% in the fourth quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company’s stock valued at $113,000 after acquiring an additional 2,110 shares during the period. 9.29% of the stock is owned by institutional investors.

ArcelorMittal Trading Up 0.6%

NYSE:MT opened at $33.37 on Friday. ArcelorMittal has a 1-year low of $21.59 and a 1-year high of $35.13. The business’s 50-day moving average price is $32.87 and its two-hundred day moving average price is $30.75. The company has a current ratio of 1.40, a quick ratio of 0.59 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $27.33 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 0.15 and a beta of 1.65.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.01). The business had revenue of $15.93 billion during the quarter, compared to the consensus estimate of $15.48 billion. ArcelorMittal had a return on equity of 4.99% and a net margin of 4.11%.The firm’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 earnings per share. On average, equities analysts expect that ArcelorMittal will post 3.72 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on MT. Barclays cut ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 16th. Wells Fargo & Company upgraded ArcelorMittal to a “hold” rating in a research report on Thursday, August 14th. Finally, Wall Street Zen cut ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Three analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, ArcelorMittal has a consensus rating of “Hold” and a consensus target price of $33.45.

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.