ArcelorMittal S.A. (NYSE:MT) Shares Bought by Northern Trust Corp

Northern Trust Corp boosted its position in ArcelorMittal S.A. (NYSE:MT - Free Report) by 31.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,153,924 shares of the basic materials company's stock after purchasing an additional 277,891 shares during the quarter. Northern Trust Corp owned about 0.14% of ArcelorMittal worth $26,690,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of ArcelorMittal by 68.5% during the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company's stock worth $34,000 after acquiring an additional 595 shares during the period. Bank of New York Mellon Corp increased its position in ArcelorMittal by 221.3% during the fourth 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 purchasing an additional 2,344,020 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in ArcelorMittal by 24.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 67,562 shares of the basic materials company's stock worth $1,563,000 after purchasing an additional 13,141 shares during the period. American Century Companies Inc. boosted its holdings in shares of ArcelorMittal by 4.8% in the 4th quarter. American Century Companies Inc. now owns 280,838 shares of the basic materials company's stock valued at $6,496,000 after purchasing an additional 12,929 shares during the last quarter. Finally, Callan Family Office LLC purchased a new stake in shares of ArcelorMittal during the 4th quarter valued at $207,000. 9.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

ArcelorMittal Stock Down 0.9%

Shares of NYSE:MT traded down $0.28 during mid-day trading on Friday, hitting $30.49. 417,322 shares of the company traded hands, compared to its average volume of 2,276,603. The firm's 50 day simple moving average is $29.18 and its 200 day simple moving average is $26.73. The firm has a market cap of $24.98 billion, a P/E ratio of 18.48, a PEG ratio of 0.14 and a beta of 1.62. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35. ArcelorMittal S.A. has a 52-week low of $20.52 and a 52-week high of $34.90.

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, topping analysts' consensus estimates of $0.71 by $0.33. The business had revenue of $14.80 billion for the quarter, compared to analysts' expectations of $15.11 billion. ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. During the same period in the previous year, the company posted $1.16 earnings per share. The business's revenue for the quarter was down 9.1% compared to the same quarter last year. On average, equities analysts anticipate that ArcelorMittal S.A. will post 3.72 EPS for the current year.

ArcelorMittal Cuts Dividend

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