Raymond James Financial Inc. Invests $2.78 Million in ArcelorMittal S.A. (NYSE:MT)

Raymond James Financial Inc. purchased a new stake in ArcelorMittal S.A. (NYSE:MT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 120,051 shares of the basic materials company's stock, valued at approximately $2,777,000.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in ArcelorMittal by 68.5% in the fourth quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company's stock worth $34,000 after purchasing an additional 595 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of ArcelorMittal by 221.3% in 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 last quarter. Charles Schwab Investment Management Inc. grew its position 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 valued at $1,563,000 after buying an additional 13,141 shares during the period. American Century Companies Inc. increased its holdings in ArcelorMittal by 4.8% during the fourth quarter. American Century Companies Inc. now owns 280,838 shares of the basic materials company's stock worth $6,496,000 after buying an additional 12,929 shares during the last quarter. Finally, Callan Family Office LLC bought a new stake in ArcelorMittal in the fourth quarter worth about $207,000. 9.29% of the stock is owned by institutional investors.

ArcelorMittal Stock Performance

Shares of NYSE:MT traded up $0.94 during trading on Friday, hitting $30.64. 1,454,957 shares of the company were exchanged, compared to its average volume of 1,866,021. ArcelorMittal S.A. has a 52-week low of $20.52 and a 52-week high of $34.90. The stock has a 50 day moving average of $29.21 and a 200 day moving average of $26.34. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59. The company has a market cap of $25.10 billion, a PE ratio of 18.57, a P/E/G ratio of 0.14 and a beta of 1.60.

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, 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 return on equity of 4.31% and a net margin of 2.14%. The firm's quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.16 EPS. As a group, equities research analysts predict that ArcelorMittal S.A. will post 3.72 EPS for the current year.

ArcelorMittal Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on MT shares. Jefferies Financial Group downgraded shares of ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 target price for the company. in a research report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of ArcelorMittal in a report on Monday, April 14th. The Goldman Sachs Group upgraded 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 research note on Thursday, April 10th. Finally, Morgan Stanley downgraded ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $32.95.

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.