LPL Financial LLC Boosts Stock Holdings in ArcelorMittal S.A. (NYSE:MT)

LPL Financial LLC lifted its position in shares of ArcelorMittal S.A. (NYSE:MT - Free Report) by 296.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 77,359 shares of the basic materials company's stock after buying an additional 57,829 shares during the quarter. LPL Financial LLC's holdings in ArcelorMittal were worth $1,789,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in ArcelorMittal by 221.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company's stock valued at $78,712,000 after buying an additional 2,344,020 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in ArcelorMittal by 146.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,535,319 shares of the basic materials company's stock worth $35,512,000 after purchasing an additional 912,984 shares during the last quarter. ABC Arbitrage SA bought a new stake in ArcelorMittal in the fourth quarter worth $9,895,000. American Century Companies Inc. raised its stake in ArcelorMittal by 4.8% during the fourth quarter. American Century Companies Inc. now owns 280,838 shares of the basic materials company's stock valued at $6,496,000 after purchasing an additional 12,929 shares in the last quarter. Finally, Sei Investments Co. lifted its position in ArcelorMittal by 31.8% during the fourth quarter. Sei Investments Co. now owns 171,615 shares of the basic materials company's stock valued at $3,969,000 after purchasing an additional 41,435 shares during the last quarter. Institutional investors own 9.29% of the company's stock.

Wall Street Analyst Weigh In

MT has been the topic of a number of recent research reports. Morgan Stanley downgraded ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of ArcelorMittal in a research note on Monday, April 14th. Jefferies Financial Group downgraded shares of ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 target price on the stock. in a research note on Wednesday, March 26th. Finally, The Goldman Sachs Group raised shares of 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. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $32.95.

ArcelorMittal Trading Up 4.4 %

MT stock traded up $1.17 during midday trading on Tuesday, reaching $27.72. The company's stock had a trading volume of 2,183,411 shares, compared to its average volume of 1,855,872. The firm has a market capitalization of $22.71 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 0.14 and a beta of 1.60. ArcelorMittal S.A. has a 1 year low of $20.52 and a 1 year high of $34.90. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35. The stock has a fifty day simple moving average of $28.95 and a two-hundred day simple moving average of $26.05.

ArcelorMittal (NYSE:MT - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $0.52 earnings per share (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%. On average, equities research analysts predict that ArcelorMittal S.A. will post 3.72 EPS for the current year.

ArcelorMittal Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Thursday, November 13th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, November 12th. This represents a yield of 1.5%. ArcelorMittal's payout ratio is currently 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.