GAMMA Investing LLC Boosts Position in ArcelorMittal S.A. (NYSE:MT)

GAMMA Investing LLC increased its position in shares of ArcelorMittal S.A. (NYSE:MT - Free Report) by 3,683.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,392 shares of the basic materials company's stock after buying an additional 53,928 shares during the quarter. GAMMA Investing LLC's holdings in ArcelorMittal were worth $15,980,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of ArcelorMittal by 221.3% in 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. Dimensional Fund Advisors LP increased its position in ArcelorMittal by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,029,028 shares of the basic materials company's stock valued at $70,061,000 after acquiring an additional 91,363 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in ArcelorMittal by 146.7% during 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 acquiring an additional 912,984 shares during the last quarter. Northern Trust Corp raised its stake in ArcelorMittal by 31.7% during the 4th quarter. Northern Trust Corp now owns 1,153,924 shares of the basic materials company's stock valued at $26,690,000 after acquiring an additional 277,891 shares during the last quarter. Finally, Causeway Capital Management LLC lifted its position in 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 acquiring an additional 121,155 shares during the period. Institutional investors and hedge funds own 9.29% of the company's stock.

Wall Street Analysts Forecast Growth

MT has been the topic of a number of recent research reports. The Goldman Sachs Group raised 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 report on Thursday, April 10th. Jefferies Financial Group cut shares of ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 price objective on the stock. in a research note on Wednesday, March 26th. Morgan Stanley downgraded shares of 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 report on Monday, April 14th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, ArcelorMittal currently has a consensus rating of "Moderate Buy" and an average target price of $32.95.

ArcelorMittal Price Performance

NYSE:MT traded up $0.25 during trading hours on Monday, hitting $30.36. The company's stock had a trading volume of 2,753,017 shares, compared to its average volume of 1,872,022. ArcelorMittal S.A. has a 52-week low of $20.52 and a 52-week 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 business's 50-day moving average is $29.02 and its two-hundred day moving average is $27.37. The company has a market capitalization of $24.87 billion, a PE ratio of 18.40, a PEG ratio of 0.14 and a beta of 1.65.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.71 by $0.33. ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. The business had revenue of $14.80 billion during the quarter, compared to the consensus estimate of $15.11 billion. During the same quarter last year, the firm posted $1.16 EPS. The business's revenue was down 9.1% compared to the same quarter last year. As a group, research analysts anticipate that ArcelorMittal S.A. will post 3.72 EPS for the current fiscal year.

ArcelorMittal Cuts Dividend

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