Raymond James Financial Inc. Buys Shares of 120,051 ArcelorMittal S.A. (NYSE:MT)

Raymond James Financial Inc. purchased a new position in ArcelorMittal S.A. (NYSE:MT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 120,051 shares of the basic materials company’s stock, valued at approximately $2,777,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Geneos Wealth Management Inc. grew its stake in 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 buying an additional 536 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of 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 acquiring an additional 595 shares during the last quarter. US Bancorp DE increased its holdings in shares of ArcelorMittal by 5.0% during the fourth quarter. US Bancorp DE now owns 15,085 shares of the basic materials company’s stock valued at $349,000 after acquiring an additional 717 shares in the last quarter. Dorsey & Whitney Trust CO LLC raised its position in shares of ArcelorMittal by 9.1% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 9,545 shares of the basic materials company’s stock valued at $221,000 after purchasing an additional 797 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in ArcelorMittal by 13.9% in the 4th quarter. Quadrant Capital Group LLC now owns 10,146 shares of the basic materials company’s stock worth $235,000 after purchasing an additional 1,242 shares in the last quarter. Hedge funds and other institutional investors own 9.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on MT shares. Deutsche Bank Aktiengesellschaft reaffirmed 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 price target for the company. in a research report on Wednesday, March 26th. The Goldman Sachs Group raised ArcelorMittal from a “neutral” rating to a “buy” rating and increased their price objective for the company from $29.00 to $31.70 in a report on Thursday, April 10th. Finally, Morgan Stanley downgraded ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Friday, February 14th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $32.95.

ArcelorMittal Stock Performance

NYSE MT opened at $30.26 on Tuesday. The firm has a market capitalization of $24.79 billion, a P/E ratio of 18.34, a PEG ratio of 0.14 and a beta of 1.60. The stock has a 50-day simple moving average of $29.03 and a two-hundred day simple moving average of $26.19. 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 fifty-two week low of $20.52 and a fifty-two week high of $34.90.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share (EPS) 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%. On average, equities analysts forecast that ArcelorMittal S.A. will post 3.72 earnings per share for the current year.

ArcelorMittal Announces Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, December 3rd. Investors of record on Thursday, November 13th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a yield of 1.5%. ArcelorMittal’s dividend payout ratio is presently 27.88%.

ArcelorMittal Company 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.