Vise Technologies Inc. Invests $217,000 in ArcelorMittal S.A. (NYSE:MT)

Vise Technologies Inc. purchased a new position in shares of ArcelorMittal S.A. (NYSE:MT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 9,393 shares of the basic materials company's stock, valued at approximately $217,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MT. Bank of New York Mellon Corp grew its holdings in shares of 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 valued at $78,712,000 after buying an additional 2,344,020 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in ArcelorMittal by 24.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 67,562 shares of the basic materials company's stock valued at $1,563,000 after purchasing an additional 13,141 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of ArcelorMittal by 4.8% in 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 during the period. Callan Family Office LLC purchased a new position in shares of ArcelorMittal in the fourth quarter worth about $207,000. Finally, Vestmark Advisory Solutions Inc. purchased a new position in shares of ArcelorMittal in the fourth quarter worth about $256,000. Hedge funds and other institutional investors own 9.29% of the company's stock.

Analyst Upgrades and Downgrades

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

ArcelorMittal Stock Performance

NYSE:MT traded up $0.03 during trading hours on Monday, reaching $30.61. The company had a trading volume of 2,015,089 shares, compared to its average volume of 1,889,258. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59. ArcelorMittal S.A. has a 1-year low of $20.52 and a 1-year high of $34.90. The business's 50 day moving average price is $28.92 and its 200-day moving average price is $27.23. The firm has a market cap of $25.08 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 0.14 and a beta of 1.62.

ArcelorMittal (NYSE:MT - Get Free Report) last posted its earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.33. ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. The firm had revenue of $14.80 billion during the quarter, compared to analyst estimates of $15.11 billion. During the same period in the previous year, the firm earned $1.16 EPS. The business's quarterly revenue was down 9.1% on a year-over-year basis. Research analysts forecast that ArcelorMittal S.A. will post 3.72 EPS for the current year.

ArcelorMittal Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th will be paid a dividend of $0.2338 per share. This represents a dividend yield of 1.44%. The ex-dividend date is Friday, May 16th. ArcelorMittal's payout ratio is currently 30.07%.

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.