First Trust Advisors LP Takes $400,000 Position in ArcelorMittal S.A. (NYSE:MT)

First Trust Advisors LP bought a new position in shares of ArcelorMittal S.A. (NYSE:MT) during the 4th quarter, Holdings Channel reports. The institutional investor bought 17,311 shares of the basic materials company’s stock, valued at approximately $400,000.

Several other large investors have also recently bought and sold shares of MT. Geneos Wealth Management Inc. lifted its stake 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 buying an additional 536 shares during the last quarter. GAMMA Investing LLC raised its holdings in ArcelorMittal by 68.5% in the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 595 shares during the period. Smartleaf Asset Management LLC lifted its position 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 acquiring an additional 2,586 shares during the last quarter. Callan Family Office LLC bought a new stake in shares of ArcelorMittal during the fourth quarter worth approximately $207,000. Finally, PNC Financial Services Group Inc. grew its position 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 purchasing an additional 1,702 shares during the last quarter. 9.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on MT shares. Morgan Stanley lowered ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Friday, February 14th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of ArcelorMittal in a research note on Monday, April 14th. The Goldman Sachs Group upgraded shares of ArcelorMittal from a “neutral” rating to a “buy” rating and increased their target price for the stock from $29.00 to $31.70 in a research report on Thursday, April 10th. Finally, Jefferies Financial Group downgraded shares of 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. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, ArcelorMittal has an average rating of “Moderate Buy” and an average price target of $32.95.

ArcelorMittal Trading Up 1.5 %

NYSE:MT opened at $30.27 on Friday. ArcelorMittal S.A. has a 12 month low of $20.52 and a 12 month high of $34.90. 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 stock has a market capitalization of $24.80 billion, a price-to-earnings ratio of 18.35, a PEG ratio of 0.14 and a beta of 1.62. The firm has a fifty day simple moving average of $29.32 and a two-hundred day simple moving average of $26.55.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.71 by $0.33. The firm had revenue of $14.80 billion during the quarter, compared to the consensus estimate of $15.11 billion. ArcelorMittal had a return on equity of 4.31% and a net margin of 2.14%. The company’s quarterly revenue was down 9.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.16 earnings per share. Analysts expect that ArcelorMittal S.A. will post 3.72 EPS for the current fiscal year.

ArcelorMittal Announces Dividend

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

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.