ArcelorMittal S.A. (NYSE:MT) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE boosted its position in shares of ArcelorMittal S.A. (NYSE:MT - Free Report) by 56.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 784,252 shares of the basic materials company's stock after buying an additional 283,758 shares during the period. Bank of America Corp DE owned 0.10% of ArcelorMittal worth $18,140,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. BNP Paribas Financial Markets grew its position in shares of ArcelorMittal by 76.2% in the fourth quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company's stock valued at $113,000 after purchasing an additional 2,110 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in ArcelorMittal by 25.0% in the fourth quarter. Ameriprise Financial Inc. now owns 23,540 shares of the basic materials company's stock valued at $544,000 after acquiring an additional 4,707 shares during the last quarter. Northern Trust Corp lifted its stake in ArcelorMittal by 31.7% during the fourth quarter. Northern Trust Corp now owns 1,153,924 shares of the basic materials company's stock worth $26,690,000 after purchasing an additional 277,891 shares in the last quarter. Dauntless Investment Group LLC acquired a new position in ArcelorMittal during the fourth quarter worth $655,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in ArcelorMittal by 218.1% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 82,183 shares of the basic materials company's stock worth $1,891,000 after purchasing an additional 56,345 shares in the last quarter. 9.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

ArcelorMittal Price Performance

Shares of MT stock traded up $0.43 during midday trading on Monday, reaching $30.39. 3,349,989 shares of the company traded hands, compared to its average volume of 1,887,032. The firm's 50 day simple moving average is $29.01 and its two-hundred day simple moving average is $27.02. 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 current ratio of 1.35 and a quick ratio of 0.59. The firm has a market cap of $24.89 billion, a PE ratio of 18.42, a price-to-earnings-growth ratio of 0.14 and a beta of 1.62.

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

ArcelorMittal Cuts Dividend

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

ArcelorMittal Profile

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.