American Century Companies Inc. Acquires 68,505 Shares of ArcelorMittal $MT

American Century Companies Inc. grew its holdings in ArcelorMittal (NYSE:MT) by 17.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 461,149 shares of the basic materials company’s stock after purchasing an additional 68,505 shares during the period. American Century Companies Inc. owned approximately 0.06% of ArcelorMittal worth $16,671,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. AQR Capital Management LLC grew its position in ArcelorMittal by 75.0% in the first quarter. AQR Capital Management LLC now owns 34,038 shares of the basic materials company’s stock valued at $982,000 after acquiring an additional 14,593 shares during the last quarter. Geneos Wealth Management Inc. increased its position in ArcelorMittal by 44.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 501 shares in the last quarter. Atria Investments Inc increased its position in ArcelorMittal by 10.7% during the 2nd quarter. Atria Investments Inc now owns 7,966 shares of the basic materials company’s stock worth $252,000 after purchasing an additional 767 shares in the last quarter. Bank of Montreal Can lifted its stake in ArcelorMittal by 1.1% in the 2nd quarter. Bank of Montreal Can now owns 148,590 shares of the basic materials company’s stock valued at $4,692,000 after purchasing an additional 1,580 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. lifted its stake in ArcelorMittal by 46.4% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 24,240 shares of the basic materials company’s stock valued at $765,000 after purchasing an additional 7,684 shares during the last quarter. Institutional investors and hedge funds own 9.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. cut shares of ArcelorMittal from an “overweight” rating to an “underweight” rating in a research note on Monday. Oddo Bhf upgraded ArcelorMittal from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 14th. Weiss Ratings reissued a “hold (c)” rating on shares of ArcelorMittal in a report on Wednesday, January 21st. Citigroup restated a “buy” rating on shares of ArcelorMittal in a research report on Friday, February 13th. Finally, Santander raised ArcelorMittal from a “neutral” rating to an “outperform” rating in a report on Thursday, February 5th. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, ArcelorMittal presently has a consensus rating of “Hold” and an average price target of $51.98.

ArcelorMittal Price Performance

Shares of NYSE MT opened at $56.75 on Wednesday. The company has a market capitalization of $43.98 billion, a PE ratio of 13.84, a P/E/G ratio of 0.46 and a beta of 1.47. The company has a quick ratio of 0.53, a current ratio of 1.36 and a debt-to-equity ratio of 0.19. ArcelorMittal has a twelve month low of $23.19 and a twelve month high of $67.60. The firm has a fifty day simple moving average of $56.24 and a 200 day simple moving average of $45.20.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Thursday, February 5th. The basic materials company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.30. The firm had revenue of $14.97 billion during the quarter, compared to the consensus estimate of $15.56 billion. ArcelorMittal had a return on equity of 5.27% and a net margin of 5.14%.The business’s revenue was up 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.52 EPS. On average, sell-side analysts forecast that ArcelorMittal will post 3.72 EPS for the current year.

ArcelorMittal Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Friday, November 13th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, November 13th. ArcelorMittal’s payout ratio is presently 12.44%.

ArcelorMittal Profile

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.