14,914 Shares in ArcelorMittal S.A. (NYSE:MT) Acquired by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC acquired a new position in ArcelorMittal S.A. (NYSE:MT) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 14,914 shares of the basic materials company’s stock, valued at approximately $376,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of ArcelorMittal by 2,038.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 822,426 shares of the basic materials company’s stock valued at $18,858,000 after buying an additional 783,965 shares during the period. Encompass Capital Advisors LLC acquired a new stake in shares of ArcelorMittal during the 2nd quarter valued at $12,679,000. FMR LLC boosted its stake in shares of ArcelorMittal by 46.7% during the 3rd quarter. FMR LLC now owns 1,317,833 shares of the basic materials company’s stock valued at $34,606,000 after buying an additional 419,465 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of ArcelorMittal by 90.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,335 shares of the basic materials company’s stock valued at $16,343,000 after buying an additional 295,682 shares during the period. Finally, Cerity Partners LLC boosted its stake 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 valued at $12,193,000 after buying an additional 260,633 shares during the period. Institutional investors and hedge funds own 9.29% of the company’s stock.

ArcelorMittal Stock Performance

Shares of MT opened at $24.71 on Friday. The company has a market capitalization of $19.90 billion, a PE ratio of -17.52, a price-to-earnings-growth ratio of 0.64 and a beta of 1.74. ArcelorMittal S.A. has a one year low of $20.52 and a one year high of $29.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.59. The company’s fifty day moving average price is $24.85 and its 200 day moving average price is $23.95.

ArcelorMittal (NYSE:MT) last announced its earnings results on Thursday, November 7th. The basic materials company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.58 by $0.05. The firm had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.11 billion. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The business’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.10 EPS. As a group, analysts expect that ArcelorMittal S.A. will post 2.93 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays raised shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft raised shares of ArcelorMittal from a “hold” rating to a “buy” rating and lifted their price objective for the company from $29.00 to $31.00 in a research note on Wednesday, August 28th. JPMorgan Chase & Co. lowered shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research note on Friday, October 11th. Finally, Bank of America raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $30.00 to $32.90 in a research note on Thursday, November 14th. Three 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 currently has an average rating of “Moderate Buy” and an average target price of $31.17.

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.