427,794 Shares in ArcelorMittal S.A. (NYSE:MT) Purchased by ABC Arbitrage SA

ABC Arbitrage SA bought a new position in ArcelorMittal S.A. (NYSE:MT) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 427,794 shares of the basic materials company’s stock, valued at approximately $9,895,000. ArcelorMittal comprises 1.4% of ABC Arbitrage SA’s holdings, making the stock its 16th biggest position. ABC Arbitrage SA owned approximately 0.05% of ArcelorMittal as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake in ArcelorMittal by 46.7% in the third quarter. FMR LLC now owns 1,317,833 shares of the basic materials company’s stock worth $34,606,000 after buying an additional 419,465 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased 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 period. Cerity Partners LLC increased its holdings in 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 purchasing an additional 260,633 shares during the period. JB Capital Partners LP raised its holdings in shares of ArcelorMittal by 17.1% during the third quarter. JB Capital Partners LP now owns 205,000 shares of the basic materials company’s stock valued at $5,383,000 after acquiring an additional 30,000 shares in the last quarter. Finally, Pathstone Holdings LLC boosted its stake in shares of ArcelorMittal by 136.9% during the 3rd quarter. Pathstone Holdings LLC now owns 178,035 shares of the basic materials company’s stock valued at $4,675,000 after purchasing an additional 102,876 shares in the last quarter. 9.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MT shares. Morgan Stanley lowered ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday. Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and raised their price target for the company from $30.00 to $32.90 in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, ArcelorMittal has a consensus rating of “Hold” and an average price target of $31.17.

ArcelorMittal Stock Down 0.5 %

ArcelorMittal stock opened at $28.58 on Friday. The firm has a market cap of $23.41 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.56 and a beta of 1.74. The company has a current ratio of 1.46, a quick ratio of 0.59 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 $29.38. The stock has a fifty day simple moving average of $24.26 and a two-hundred day simple moving average of $24.03.

ArcelorMittal (NYSE:MT) last released its quarterly earnings data on Thursday, February 6th. The basic materials company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.24%. Equities analysts predict that ArcelorMittal S.A. will post 3.6 EPS for the current fiscal year.

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.