ArcelorMittal S.A. (NYSE:MT) Stake Boosted by Pathstone Holdings LLC

Pathstone Holdings LLC increased its stake in ArcelorMittal S.A. (NYSE:MT) by 136.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 178,035 shares of the basic materials company’s stock after purchasing an additional 102,876 shares during the period. Pathstone Holdings LLC’s holdings in ArcelorMittal were worth $4,675,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. raised its holdings in ArcelorMittal by 4.6% during the second quarter. Crossmark Global Holdings Inc. now owns 12,927 shares of the basic materials company’s stock worth $296,000 after purchasing an additional 572 shares in the last quarter. Rhumbline Advisers raised its stake in shares of ArcelorMittal by 6.8% in the 2nd quarter. Rhumbline Advisers now owns 9,633 shares of the basic materials company’s stock worth $221,000 after buying an additional 610 shares in the last quarter. Pzena Investment Management LLC lifted its holdings in shares of ArcelorMittal by 4.0% in the second quarter. Pzena Investment Management LLC now owns 25,085 shares of the basic materials company’s stock valued at $575,000 after buying an additional 963 shares during the period. Trust Co. of Toledo NA OH boosted its stake in ArcelorMittal by 5.6% during the second quarter. Trust Co. of Toledo NA OH now owns 26,135 shares of the basic materials company’s stock valued at $599,000 after buying an additional 1,395 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in ArcelorMittal by 298.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock worth $54,000 after acquiring an additional 1,771 shares during the period. Institutional investors and hedge funds own 9.88% of the company’s stock.

ArcelorMittal Trading Down 0.7 %

Shares of MT opened at $25.11 on Friday. The stock’s fifty day simple moving average is $24.77 and its 200-day simple moving average is $24.02. The company has a quick ratio of 0.59, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. ArcelorMittal S.A. has a 12-month low of $20.52 and a 12-month high of $29.01. The firm has a market capitalization of $20.22 billion, a PE ratio of -17.81, a price-to-earnings-growth ratio of 0.61 and a beta of 1.77.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. The company had revenue of $15.20 billion during 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 firm’s revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.10 earnings per share. As a group, research analysts predict that ArcelorMittal S.A. will post 2.99 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently 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. Bank of America raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and upped their price objective for the company from $30.00 to $32.90 in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised ArcelorMittal from a “hold” rating to a “buy” rating and upped their target price for the stock from $29.00 to $31.00 in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. downgraded ArcelorMittal from an “overweight” rating to a “neutral” rating in a research note on Friday, October 11th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.