Bank of New York Mellon Corp Has $78.71 Million Stock Holdings in ArcelorMittal S.A. (NYSE:MT)

Bank of New York Mellon Corp lifted its holdings in shares of ArcelorMittal S.A. (NYSE:MT) by 221.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,403,048 shares of the basic materials company’s stock after purchasing an additional 2,344,020 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.42% of ArcelorMittal worth $78,712,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MT. ABC Arbitrage SA acquired a new stake in ArcelorMittal in the 4th quarter worth approximately $9,895,000. FMR LLC raised its position in shares of ArcelorMittal by 46.7% in the third quarter. FMR LLC now owns 1,317,833 shares of the basic materials company’s stock valued at $34,606,000 after purchasing an additional 419,465 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of ArcelorMittal by 90.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,335 shares of the basic materials company’s stock worth $16,343,000 after buying an additional 295,682 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of ArcelorMittal by 128.0% during the 3rd quarter. Cerity Partners LLC now owns 464,315 shares of the basic materials company’s stock worth $12,193,000 after buying an additional 260,633 shares during the period. Finally, Pathstone Holdings LLC grew its stake in ArcelorMittal by 136.9% in the 3rd quarter. Pathstone Holdings LLC now owns 178,035 shares of the basic materials company’s stock valued at $4,675,000 after buying an additional 102,876 shares during the last quarter. Institutional investors own 9.29% of the company’s stock.

ArcelorMittal Stock Performance

NYSE MT opened at $29.49 on Tuesday. The company’s fifty day moving average is $25.19 and its two-hundred day moving average is $24.61. ArcelorMittal S.A. has a 52-week low of $20.52 and a 52-week high of $30.38. 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 firm has a market capitalization of $24.16 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 0.14 and a beta of 1.74.

ArcelorMittal (NYSE:MT) last released its 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 return on equity of 4.31% and a net margin of 2.14%. Equities research analysts forecast that ArcelorMittal S.A. will post 3.72 EPS for the current year.

Analyst Ratings Changes

MT has been the subject of a number of research analyst reports. Morgan Stanley lowered shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Bank of America raised ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $30.00 to $32.90 in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ArcelorMittal has a consensus rating of “Hold” and a consensus price target of $31.17.

About ArcelorMittal

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.