Highland Capital Management LLC Boosts Stock Position in ArcelorMittal S.A. (NYSE:MT)

Highland Capital Management LLC raised its position in ArcelorMittal S.A. (NYSE:MT) by 6.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 24,786 shares of the basic materials company’s stock after buying an additional 1,450 shares during the period. Highland Capital Management LLC’s holdings in ArcelorMittal were worth $704,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Raymond James & Associates grew its position in ArcelorMittal by 36.5% during the first quarter. Raymond James & Associates now owns 77,799 shares of the basic materials company’s stock valued at $2,490,000 after acquiring an additional 20,821 shares during the period. Bank of New York Mellon Corp grew its stake in ArcelorMittal by 15.0% during the first quarter. Bank of New York Mellon Corp now owns 17,618 shares of the basic materials company’s stock worth $564,000 after buying an additional 2,294 shares during the period. American Century Companies Inc. increased its position in shares of ArcelorMittal by 11.3% in the first quarter. American Century Companies Inc. now owns 79,895 shares of the basic materials company’s stock worth $2,557,000 after acquiring an additional 8,085 shares in the last quarter. US Bancorp DE raised its stake in shares of ArcelorMittal by 75.4% in the 1st quarter. US Bancorp DE now owns 23,765 shares of the basic materials company’s stock valued at $760,000 after acquiring an additional 10,217 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of ArcelorMittal by 10.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 7,874 shares of the basic materials company’s stock valued at $252,000 after acquiring an additional 758 shares in the last quarter. 9.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MT has been the topic of several recent research reports. JPMorgan Chase & Co. raised ArcelorMittal from a “neutral” rating to an “overweight” rating in a research report on Tuesday, December 12th. StockNews.com lowered shares of ArcelorMittal from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

ArcelorMittal Stock Up 3.0 %

MT stock opened at $27.83 on Thursday. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 0.15. The firm has a 50 day simple moving average of $26.86 and a 200-day simple moving average of $25.65. The company has a market capitalization of $22.41 billion, a P/E ratio of 27.83, a PEG ratio of 0.34 and a beta of 1.92. ArcelorMittal S.A. has a twelve month low of $21.30 and a twelve month high of $30.36.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Thursday, February 8th. The basic materials company reported ($3.57) earnings per share for the quarter, missing the consensus estimate of ($2.08) by ($1.49). The company had revenue of $14.55 billion for the quarter, compared to analyst estimates of $16.39 billion. ArcelorMittal had a return on equity of 8.55% and a net margin of 1.35%. ArcelorMittal’s revenue was down 13.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.37 earnings per share. On average, equities research analysts predict that ArcelorMittal S.A. will post 4.59 earnings per share for the current fiscal year.

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.