New York State Common Retirement Fund Makes New $1.65 Million Investment in ArcelorMittal (NYSE:MT)

New York State Common Retirement Fund purchased a new position in shares of ArcelorMittal (NYSE:MT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 57,100 shares of the basic materials company's stock, valued at approximately $1,647,000.

Other large investors have also modified their holdings of the company. Hexagon Capital Partners LLC boosted its position in ArcelorMittal by 25.4% in the first quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company's stock valued at $51,000 after buying an additional 360 shares during the last quarter. GAMMA Investing LLC boosted its position in ArcelorMittal by 31.1% in the first quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company's stock valued at $55,000 after buying an additional 456 shares during the last quarter. BNP Paribas Financial Markets boosted its position in 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 buying an additional 2,110 shares during the last quarter. Vise Technologies Inc. purchased a new stake in ArcelorMittal in the fourth quarter valued at approximately $217,000. Finally, Tower Research Capital LLC TRC boosted its position in ArcelorMittal by 94.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 9,408 shares of the basic materials company's stock valued at $218,000 after buying an additional 4,567 shares during the last quarter. Hedge funds and other institutional investors own 9.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MT shares. Barclays lowered ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, July 16th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of ArcelorMittal in a report on Monday, April 14th. The Goldman Sachs Group raised ArcelorMittal from a "neutral" rating to a "buy" rating and boosted their price target for the company from $29.00 to $31.70 in a report on Thursday, April 10th. Finally, Wall Street Zen downgraded ArcelorMittal from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $32.95.

ArcelorMittal Price Performance

Shares of MT stock traded down $0.54 during trading hours on Monday, hitting $33.11. 1,170,375 shares of the company's stock were exchanged, compared to its average volume of 1,384,387. The company has a quick ratio of 0.58, a current ratio of 1.35 and a debt-to-equity ratio of 0.16. The firm has a market cap of $27.13 billion, a P/E ratio of 21.64, a P/E/G ratio of 0.15 and a beta of 1.63. The firm has a 50 day moving average of $31.69 and a two-hundred day moving average of $29.44. ArcelorMittal has a fifty-two week low of $20.52 and a fifty-two week high of $34.90.

ArcelorMittal (NYSE:MT - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.71 by $0.33. ArcelorMittal had a return on equity of 4.11% and a net margin of 1.98%. 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 prior year, the company earned $1.16 EPS. The firm's revenue was down 9.1% compared to the same quarter last year. Sell-side analysts forecast that ArcelorMittal will post 3.72 EPS for the current year.

ArcelorMittal Cuts Dividend

The business also recently announced a dividend, which was paid on Wednesday, June 11th. Shareholders of record on Monday, May 19th were paid a $0.2338 dividend. This represents a dividend yield of 1.44%. The ex-dividend date was Friday, May 16th. ArcelorMittal's dividend payout ratio (DPR) is presently 30.72%.

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.