ArcelorMittal S.A. (NYSE:MT) Shares Sold by State Street Corp

State Street Corp lessened its position in ArcelorMittal S.A. (NYSE:MT) by 3.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,271 shares of the basic materials company’s stock after selling 2,529 shares during the period. State Street Corp’s holdings in ArcelorMittal were worth $1,688,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Raymond James & Associates grew its stake in shares of ArcelorMittal by 32.7% in the second quarter. Raymond James & Associates now owns 58,194 shares of the basic materials company’s stock worth $1,334,000 after purchasing an additional 14,338 shares in the last quarter. Bank of New York Mellon Corp grew its position in ArcelorMittal by 2,038.3% in 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 in the last quarter. Allspring Global Investments Holdings LLC grew its position in ArcelorMittal by 298.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock valued at $54,000 after buying an additional 1,771 shares in the last quarter. Crossmark Global Holdings Inc. increased its stake in ArcelorMittal by 4.6% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,927 shares of the basic materials company’s stock valued at $296,000 after buying an additional 572 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of ArcelorMittal by 1.8% during the 2nd quarter. Van ECK Associates Corp now owns 225,420 shares of the basic materials company’s stock worth $5,169,000 after buying an additional 3,994 shares in the last quarter. 9.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on MT. Bank of America upgraded shares of ArcelorMittal from a “neutral” rating to a “buy” rating and increased their price objective for the company from $30.00 to $32.90 in a report on Thursday, November 14th. JPMorgan Chase & Co. downgraded shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research note on Friday, October 11th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.17.

ArcelorMittal Trading Up 0.9 %

NYSE:MT opened at $23.13 on Thursday. 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 $28.95. The company’s 50 day moving average is $24.59 and its 200-day moving average is $23.76. The firm has a market cap of $18.63 billion, a price-to-earnings ratio of -16.40, a P/E/G ratio of 0.61 and a beta of 1.74.

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