ArcelorMittal S.A. (NYSE:MT) Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp lifted its holdings in ArcelorMittal S.A. (NYSE:MT) by 1.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 246,001 shares of the basic materials company’s stock after acquiring an additional 3,031 shares during the quarter. Van ECK Associates Corp’s holdings in ArcelorMittal were worth $6,984,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. International Assets Investment Management LLC acquired a new position in ArcelorMittal in the fourth quarter worth approximately $5,160,000. Quantbot Technologies LP raised its position in shares of ArcelorMittal by 24.4% during the third quarter. Quantbot Technologies LP now owns 102,724 shares of the basic materials company’s stock worth $2,571,000 after purchasing an additional 20,137 shares during the period. Citigroup Inc. lifted its holdings in shares of ArcelorMittal by 38.2% during the third quarter. Citigroup Inc. now owns 12,356 shares of the basic materials company’s stock valued at $309,000 after purchasing an additional 3,413 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of ArcelorMittal in the 3rd quarter valued at $1,644,000. Finally, Wellington Management Group LLP increased its stake in ArcelorMittal by 10.2% in the 3rd quarter. Wellington Management Group LLP now owns 370,804 shares of the basic materials company’s stock worth $9,281,000 after purchasing an additional 34,205 shares in the last quarter. 9.88% of the stock is currently owned by institutional investors.

ArcelorMittal Stock Performance

Shares of MT stock opened at $26.22 on Friday. The stock’s fifty day simple moving average is $26.42 and its 200-day simple moving average is $25.98. The company has a market capitalization of $21.11 billion, a price-to-earnings ratio of 29.46, a P/E/G ratio of 0.42 and a beta of 1.93. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 0.15. ArcelorMittal S.A. has a 1-year low of $21.30 and a 1-year high of $29.15.

ArcelorMittal (NYSE:MT) last released its earnings results on Tuesday, April 30th. The basic materials company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.23. The company had revenue of $16.28 billion for the quarter, compared to analysts’ expectations of $16.67 billion. ArcelorMittal had a return on equity of 8.24% and a net margin of 1.15%. The business’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.27 EPS. On average, sell-side analysts predict that ArcelorMittal S.A. will post 3.91 earnings per share for the current fiscal year.

ArcelorMittal Dividend Announcement

The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, June 12th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.213 per share. The ex-dividend date is Thursday, May 16th. ArcelorMittal’s dividend payout ratio (DPR) is currently 41.57%.

Analyst Ratings Changes

A number of analysts have commented on MT shares. StockNews.com lowered shares of ArcelorMittal from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $31.00 price target (down previously from $34.00) on shares of ArcelorMittal in a research report on Tuesday, April 16th.

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.