Pzena Investment Management LLC Has $834,000 Position in ArcelorMittal S.A. (NYSE:MT)

Pzena Investment Management LLC lifted its position in shares of ArcelorMittal S.A. (NYSE:MT) by 8.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,046 shares of the basic materials company’s stock after acquiring an additional 2,848 shares during the period. Pzena Investment Management LLC’s holdings in ArcelorMittal were worth $834,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Dorsey & Whitney Trust CO LLC grew its position in ArcelorMittal by 9.1% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,545 shares of the basic materials company’s stock valued at $221,000 after acquiring an additional 797 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of ArcelorMittal by 23.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,076 shares of the basic materials company’s stock valued at $210,000 after purchasing an additional 1,702 shares in the last quarter. Callan Family Office LLC bought a new stake in shares of ArcelorMittal during the 4th quarter valued at approximately $207,000. Vestmark Advisory Solutions Inc. acquired a new position in ArcelorMittal during the 4th quarter worth approximately $256,000. Finally, Raymond James Financial Inc. bought a new position in ArcelorMittal in the 4th quarter valued at approximately $2,777,000. Institutional investors and hedge funds own 9.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MT shares. Morgan Stanley cut shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 14th. Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $30.00 to $32.90 in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $31.17.

ArcelorMittal Trading Up 1.8 %

MT opened at $32.04 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59. ArcelorMittal S.A. has a fifty-two week low of $20.52 and a fifty-two week high of $34.90. The company’s 50 day moving average price is $26.30 and its two-hundred day moving average price is $25.01. The firm has a market capitalization of $26.25 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 0.14 and a beta of 1.79.

ArcelorMittal (NYSE:MT) last issued 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 return on equity of 4.31% and a net margin of 2.14%. As a group, research analysts predict that ArcelorMittal S.A. will post 3.72 earnings per share for the current year.

ArcelorMittal Company 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.