Hsbc Holdings PLC Takes $1.62 Million Position in ArcelorMittal S.A. (NYSE:MT)

Hsbc Holdings PLC acquired a new position in shares of ArcelorMittal S.A. (NYSE:MT - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 70,520 shares of the basic materials company's stock, valued at approximately $1,623,000.

Other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its position in ArcelorMittal by 89.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company's stock worth $26,000 after buying an additional 536 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of ArcelorMittal by 68.5% in the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 595 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in ArcelorMittal by 76.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company's stock worth $137,000 after purchasing an additional 2,586 shares during the last quarter. Callan Family Office LLC bought a new stake in ArcelorMittal during the fourth quarter worth approximately $207,000. Finally, PNC Financial Services Group Inc. grew its holdings in ArcelorMittal by 23.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,076 shares of the basic materials company's stock valued at $210,000 after purchasing an additional 1,702 shares during the last quarter. Institutional investors and hedge funds own 9.29% of the company's stock.

Wall Street Analyst Weigh In

MT has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of ArcelorMittal in a report on Monday, April 14th. Morgan Stanley lowered ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 14th. Jefferies Financial Group downgraded ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 target price for the company. in a research note on Wednesday, March 26th. Finally, The Goldman Sachs Group raised 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 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $32.95.

ArcelorMittal Stock Performance

ArcelorMittal stock traded down $0.12 during trading hours on Wednesday, hitting $29.95. The stock had a trading volume of 90,658 shares, compared to its average volume of 2,362,067. The company has a 50-day moving average of $29.27 and a two-hundred day moving average of $26.42. The company has a quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. The company has a market cap of $24.54 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 0.14 and a beta of 1.62. ArcelorMittal S.A. 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 issued its quarterly earnings data 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 return on equity of 4.31% and a net margin of 2.14%. The company had revenue of $14.80 billion during the quarter, compared to analysts' expectations of $15.11 billion. During the same period last year, the business earned $1.16 earnings per share. The business's revenue was down 9.1% on a year-over-year basis. On average, equities research analysts anticipate that ArcelorMittal S.A. will post 3.72 EPS for the current fiscal year.

ArcelorMittal Dividend Announcement

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 paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a yield of 1.5%. ArcelorMittal's dividend payout ratio is 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.