Envestnet Asset Management Inc. Boosts Stock Holdings in ArcelorMittal S.A. (NYSE:MT)

Envestnet Asset Management Inc. grew its stake in shares of ArcelorMittal S.A. (NYSE:MT - Free Report) by 14.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 348,819 shares of the basic materials company's stock after buying an additional 45,255 shares during the quarter. Envestnet Asset Management Inc.'s holdings in ArcelorMittal were worth $8,068,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Geneos Wealth Management Inc. raised its holdings in ArcelorMittal by 89.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company's stock worth $26,000 after purchasing an additional 536 shares in the last quarter. GAMMA Investing LLC raised its holdings 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 purchasing an additional 595 shares in the last quarter. US Bancorp DE raised its holdings in ArcelorMittal by 5.0% in the fourth quarter. US Bancorp DE now owns 15,085 shares of the basic materials company's stock worth $349,000 after purchasing an additional 717 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its holdings in ArcelorMittal by 9.1% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,545 shares of the basic materials company's stock worth $221,000 after purchasing an additional 797 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in shares of ArcelorMittal by 11.6% during the fourth quarter. HighTower Advisors LLC now owns 13,746 shares of the basic materials company's stock valued at $318,000 after acquiring an additional 1,426 shares in the last quarter. 9.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MT has been the subject of several analyst reports. The Goldman Sachs Group upgraded ArcelorMittal from a "neutral" rating to a "buy" rating and raised their price target for the company from $29.00 to $31.70 in a report on Thursday, April 10th. Jefferies Financial Group cut ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 price objective on the stock. in a research report on Wednesday, March 26th. Morgan Stanley cut ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of ArcelorMittal in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $32.95.

ArcelorMittal Price Performance

MT traded up $0.08 on Thursday, hitting $28.97. 320,811 shares of the company's stock traded hands, compared to its average volume of 1,854,740. The company's 50 day simple moving average is $28.96 and its 200-day simple moving average is $26.07. The firm has a market cap of $23.73 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 0.14 and a beta of 1.60. ArcelorMittal S.A. has a one year low of $20.52 and a one year high of $34.90. The company has a current ratio of 1.35, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17.

ArcelorMittal (NYSE:MT - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. As a group, research analysts anticipate that ArcelorMittal S.A. will post 3.72 EPS for the current year.

ArcelorMittal Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a dividend yield of 1.5%. ArcelorMittal's dividend payout ratio (DPR) is presently 27.88%.

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.