OLD Mission Capital LLC Raises Stock Holdings in ArcelorMittal S.A. (NYSE:MT)

OLD Mission Capital LLC grew its position in shares of ArcelorMittal S.A. (NYSE:MT) by 145.8% in the fourth quarter, Holdings Channel reports. The fund owned 678,350 shares of the basic materials company’s stock after buying an additional 402,402 shares during the quarter. OLD Mission Capital LLC’s holdings in ArcelorMittal were worth $15,690,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MT. Geneos Wealth Management Inc. increased 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 valued at $26,000 after purchasing an additional 536 shares during the last quarter. GAMMA Investing LLC boosted its stake in ArcelorMittal by 68.5% during 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 period. Smartleaf Asset Management LLC boosted its stake in ArcelorMittal by 76.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company’s stock worth $137,000 after buying an additional 2,586 shares during the period. Callan Family Office LLC bought a new position in ArcelorMittal during the fourth quarter valued at $207,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of ArcelorMittal by 23.1% in 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 acquiring an additional 1,702 shares during the period. 9.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on MT. Jefferies Financial Group cut shares of ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 price target for the company. in a research note on Wednesday, March 26th. Morgan Stanley lowered ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $32.43.

ArcelorMittal Stock Up 0.2 %

Shares of MT opened at $28.85 on Tuesday. The firm has a fifty day moving average price of $28.72 and a 200-day moving average price of $25.84. The company has a current ratio of 1.35, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $23.63 billion, a P/E ratio of 17.48, a P/E/G ratio of 0.14 and a beta of 1.79. ArcelorMittal S.A. has a 12-month low of $20.52 and a 12-month high of $34.90.

ArcelorMittal (NYSE:MT) last issued its earnings results on Thursday, February 6th. The basic materials company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). ArcelorMittal had a return on equity of 4.31% and a net margin of 2.14%. Equities research analysts expect that ArcelorMittal S.A. will post 3.72 earnings per share for the current 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 issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, November 12th. This represents a yield of 1.5%. ArcelorMittal’s payout ratio is currently 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.