ArcelorMittal SA (MT) Position Lifted by Raymond James & Associates

Raymond James & Associates lifted its stake in ArcelorMittal SA (NYSE:MT) by 10.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,110 shares of the basic materials company’s stock after acquiring an additional 1,796 shares during the period. Raymond James & Associates’ holdings in ArcelorMittal were worth $550,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Renaissance Technologies LLC grew its holdings in shares of ArcelorMittal by 92.2% during the second quarter. Renaissance Technologies LLC now owns 820,401 shares of the basic materials company’s stock worth $23,815,000 after purchasing an additional 393,607 shares during the last quarter. BlueMountain Capital Management LLC bought a new stake in shares of ArcelorMittal during the second quarter worth $1,035,000. FMR LLC grew its holdings in shares of ArcelorMittal by 6.7% during the second quarter. FMR LLC now owns 2,895,387 shares of the basic materials company’s stock worth $83,329,000 after purchasing an additional 181,968 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of ArcelorMittal by 7.0% during the second quarter. PNC Financial Services Group Inc. now owns 46,167 shares of the basic materials company’s stock worth $1,329,000 after purchasing an additional 3,036 shares during the last quarter. Finally, BlackRock Inc. increased its position in ArcelorMittal by 2.7% in the 2nd quarter. BlackRock Inc. now owns 89,829 shares of the basic materials company’s stock valued at $2,586,000 after acquiring an additional 2,364 shares in the last quarter. 3.34% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have weighed in on the stock. ValuEngine upgraded shares of ArcelorMittal from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. Credit Suisse Group restated a “buy” rating on shares of ArcelorMittal in a research report on Wednesday, August 8th. Zacks Investment Research cut shares of ArcelorMittal from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 4th. Macquarie assumed coverage on shares of ArcelorMittal in a research note on Friday, July 6th. They set an “outperform” rating on the stock. Finally, Jefferies Financial Group reissued a “buy” rating on shares of ArcelorMittal in a research note on Monday, September 17th. Two analysts have rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. ArcelorMittal presently has an average rating of “Buy” and an average price target of $37.00.



ArcelorMittal stock opened at $25.07 on Friday. The stock has a market capitalization of $27.71 billion, a P/E ratio of 4.69, a PEG ratio of 1.36 and a beta of 2.31. ArcelorMittal SA has a 12-month low of $24.24 and a 12-month high of $37.50. The company has a current ratio of 1.38, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.28. The business had revenue of $20 billion for the quarter, compared to analysts’ expectations of $20.25 billion. ArcelorMittal had a return on equity of 12.62% and a net margin of 7.11%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.29 earnings per share. As a group, equities analysts predict that ArcelorMittal SA will post 5.52 earnings per share for the current fiscal year.

ArcelorMittal Company Profile

ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through NAFTA, Brazil, Europe, ACIS, and Mining segments. The company produces finished and semi-finished steel products with various specifications.

Further Reading: Calculate Your Return on Investment (ROI)

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Institutional Ownership by Quarter for ArcelorMittal (NYSE:MT)

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