Mork Capital Management LLC purchased a new position in ArcelorMittal S.A. (NYSE:MT - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 43,200 shares of the basic materials company's stock, valued at approximately $999,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in ArcelorMittal by 221.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company's stock worth $78,712,000 after buying an additional 2,344,020 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in ArcelorMittal by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,029,028 shares of the basic materials company's stock valued at $70,061,000 after purchasing an additional 91,363 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of ArcelorMittal by 146.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,535,319 shares of the basic materials company's stock valued at $35,512,000 after purchasing an additional 912,984 shares during the period. Northern Trust Corp raised its holdings in shares of ArcelorMittal by 31.7% in the 4th quarter. Northern Trust Corp now owns 1,153,924 shares of the basic materials company's stock worth $26,690,000 after buying an additional 277,891 shares in the last quarter. Finally, Causeway Capital Management LLC lifted its position in shares of ArcelorMittal by 12.8% during the 4th quarter. Causeway Capital Management LLC now owns 1,067,400 shares of the basic materials company's stock worth $24,689,000 after buying an additional 121,155 shares during the period. Institutional investors own 9.29% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on MT. Morgan Stanley cut ArcelorMittal from an "overweight" rating to an "equal weight" rating in a report on Friday, February 14th. The Goldman Sachs Group raised ArcelorMittal from a "neutral" rating to a "buy" rating and lifted their price target for the company from $29.00 to $31.70 in a report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of ArcelorMittal in a report on Monday, April 14th. Finally, Jefferies Financial Group downgraded shares of ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 target price for the company. in a research note on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $32.95.
View Our Latest Stock Report on MT
ArcelorMittal Trading Down 0.9%
Shares of NYSE:MT traded down $0.28 during trading on Thursday, hitting $31.09. 1,411,642 shares of the company's stock were exchanged, compared to its average volume of 1,855,423. The company has a current ratio of 1.35, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. The firm has a market cap of $25.47 billion, a P/E ratio of 18.84, a PEG ratio of 0.14 and a beta of 1.62. The firm has a 50-day moving average price of $29.18 and a two-hundred day moving average price of $26.73. ArcelorMittal S.A. has a 1-year low of $20.52 and a 1-year high of $34.90.
ArcelorMittal (NYSE:MT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.33. The business had revenue of $14.80 billion for the quarter, compared to the consensus estimate of $15.11 billion. ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. ArcelorMittal's revenue for the quarter was down 9.1% on a year-over-year basis. During the same period last year, the company posted $1.16 EPS. Equities analysts predict that ArcelorMittal S.A. will post 3.72 earnings per share for the current year.
ArcelorMittal Dividend Announcement
The company also recently declared a semi-annual dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Thursday, November 13th will be issued a $0.275 dividend. This represents a dividend yield of 1.5%. The ex-dividend date is Wednesday, November 12th. ArcelorMittal's dividend payout ratio (DPR) is 30.07%.
About ArcelorMittal
(
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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