ArcelorMittal S.A. (NYSE:MT) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN increased its position in shares of ArcelorMittal S.A. (NYSE:MT - Free Report) by 61.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,407 shares of the basic materials company's stock after purchasing an additional 43,425 shares during the quarter. Wells Fargo & Company MN's holdings in ArcelorMittal were worth $2,646,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of 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 buying an additional 595 shares during the last quarter. Park Avenue Securities LLC acquired a new position in shares of ArcelorMittal during the 4th quarter worth approximately $212,000. Janney Montgomery Scott LLC purchased a new position in ArcelorMittal during the fourth quarter valued at $233,000. Geneos Wealth Management Inc. raised its position in shares of ArcelorMittal by 89.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company's stock worth $26,000 after purchasing an additional 536 shares during the last quarter. Finally, ABC Arbitrage SA purchased a new position in ArcelorMittal in the 4th quarter valued at about $9,895,000. Institutional investors and hedge funds own 9.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Morgan Stanley cut ArcelorMittal from an "overweight" rating to an "equal weight" rating in a report on Friday, February 14th. Jefferies Financial Group lowered ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 price objective on the stock. in a report on Wednesday, March 26th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of ArcelorMittal in a report on Monday, April 14th. Finally, The Goldman Sachs Group raised shares of ArcelorMittal from a "neutral" rating to a "buy" rating and raised their price target for the stock from $29.00 to $31.70 in a research note on Thursday, April 10th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, ArcelorMittal currently has an average rating of "Moderate Buy" and a consensus target price of $32.95.

ArcelorMittal Trading Down 1.7 %

MT traded down $0.52 during trading hours on Wednesday, reaching $29.67. The company's stock had a trading volume of 2,528,303 shares, compared to its average volume of 1,875,577. The business's 50-day moving average is $29.12 and its 200-day moving average is $26.24. 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 stock has a market cap of $24.31 billion, a PE ratio of 17.98, a P/E/G ratio of 0.14 and a beta of 1.60. 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 announced its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share for the quarter, missing analysts' consensus estimates of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. As a group, equities research analysts predict that ArcelorMittal S.A. will post 3.72 earnings per share 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. Stockholders of record on Thursday, November 13th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, November 12th. This represents a dividend yield of 1.5%. ArcelorMittal's payout ratio is presently 27.88%.

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.