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

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

Several other large investors also recently modified their holdings of the stock. Bank of New York Mellon Corp increased its position in ArcelorMittal by 221.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company's stock worth $78,712,000 after buying an additional 2,344,020 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its stake in ArcelorMittal by 146.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,535,319 shares of the basic materials company's stock worth $35,512,000 after purchasing an additional 912,984 shares in the last quarter. ABC Arbitrage SA acquired a new position in shares of ArcelorMittal during the 4th quarter worth approximately $9,895,000. OLD Mission Capital LLC increased its holdings in shares of ArcelorMittal by 145.8% during the fourth quarter. OLD Mission Capital LLC now owns 678,350 shares of the basic materials company's stock worth $15,690,000 after purchasing an additional 402,402 shares during the period. Finally, Causeway Capital Management LLC raised its position in shares of ArcelorMittal by 12.8% in the fourth quarter. Causeway Capital Management LLC now owns 1,067,400 shares of the basic materials company's stock valued at $24,689,000 after buying an additional 121,155 shares in the last quarter. 9.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

ArcelorMittal Price Performance

Shares of NYSE:MT traded down $0.31 during trading on Monday, hitting $30.33. 756,596 shares of the company were exchanged, compared to its average volume of 1,861,583. The company has a quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. ArcelorMittal S.A. has a 1-year low of $20.52 and a 1-year high of $34.90. The company has a market capitalization of $24.85 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 0.14 and a beta of 1.60. The business's 50 day moving average is $29.21 and its 200-day moving average is $26.35.

ArcelorMittal (NYSE:MT - Get Free Report) last posted its earnings results 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 4.31% 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 last year, the company earned $1.16 earnings per share. The business's quarterly revenue was down 9.1% on a year-over-year basis. Equities analysts forecast that ArcelorMittal S.A. will post 3.72 earnings per share for the current year.

ArcelorMittal Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Thursday, November 13th will be given a $0.275 dividend. This represents a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, November 12th. ArcelorMittal's dividend payout ratio (DPR) is currently 30.07%.

ArcelorMittal Company 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.