OLD Mission Capital LLC Purchases 402,402 Shares of ArcelorMittal S.A. (NYSE:MT)

OLD Mission Capital LLC boosted its position in shares of ArcelorMittal S.A. (NYSE:MT) by 145.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 678,350 shares of the basic materials company’s stock after acquiring an additional 402,402 shares during the quarter. OLD Mission Capital LLC owned 0.08% of ArcelorMittal worth $15,690,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its position in ArcelorMittal by 89.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 536 shares during the period. GAMMA Investing LLC increased its stake in shares of ArcelorMittal by 68.5% in the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 595 shares in the last quarter. US Bancorp DE raised its holdings in ArcelorMittal by 5.0% in the 4th quarter. US Bancorp DE now owns 15,085 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 717 shares during the period. Dorsey & Whitney Trust CO LLC lifted its position in ArcelorMittal by 9.1% during 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 purchasing an additional 797 shares in the last quarter. Finally, HighTower Advisors LLC grew its holdings in ArcelorMittal by 11.6% during the fourth quarter. HighTower Advisors LLC now owns 13,746 shares of the basic materials company’s stock valued at $318,000 after purchasing an additional 1,426 shares during the period. Institutional investors own 9.29% of the company’s stock.

Analysts Set New Price Targets

MT has been the topic of several recent research reports. Morgan Stanley downgraded ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 14th. Jefferies Financial Group cut shares of ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 target price on the stock. in a research note on Wednesday, March 26th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $32.43.

ArcelorMittal Price Performance

Shares of ArcelorMittal stock opened at $28.85 on Tuesday. The company has a market capitalization of $23.63 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 0.14 and a beta of 1.79. The company has a quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. The stock’s 50-day simple moving average is $28.72 and its 200-day simple moving average is $25.84. ArcelorMittal S.A. has a 52 week low of $20.52 and a 52 week high of $34.90.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates 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, analysts expect that ArcelorMittal S.A. will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Dividend Announcement

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, December 3rd. Investors of record on Thursday, November 13th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a yield of 1.5%. ArcelorMittal’s payout ratio is 27.88%.

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.