10,058 Shares in ArcelorMittal S.A. (NYSE:MT) Acquired by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC purchased a new position in ArcelorMittal S.A. (NYSE:MT) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 10,058 shares of the basic materials company’s stock, valued at approximately $233,000.

Several other institutional investors have also made changes to their positions in the company. Truist Financial Corp acquired a new position in ArcelorMittal during the second quarter valued at $250,000. Sanctuary Advisors LLC purchased a new position in ArcelorMittal during the 2nd quarter valued at about $533,000. Creative Planning increased its holdings in shares of ArcelorMittal by 24.1% in the 3rd quarter. Creative Planning now owns 61,226 shares of the basic materials company’s stock valued at $1,608,000 after purchasing an additional 11,898 shares during the period. Blue Trust Inc. lifted its position in shares of ArcelorMittal by 382.9% in the third quarter. Blue Trust Inc. now owns 9,735 shares of the basic materials company’s stock worth $256,000 after purchasing an additional 7,719 shares in the last quarter. Finally, Signaturefd LLC lifted its position in shares of ArcelorMittal by 7.9% in the third quarter. Signaturefd LLC now owns 30,011 shares of the basic materials company’s stock worth $788,000 after purchasing an additional 2,199 shares in the last quarter. 9.29% of the stock is owned by hedge funds and other institutional investors.

ArcelorMittal Stock Up 6.0 %

Shares of ArcelorMittal stock opened at $29.02 on Thursday. The stock has a 50-day simple moving average of $24.11 and a 200-day simple moving average of $23.96. ArcelorMittal S.A. has a 52-week low of $20.52 and a 52-week high of $29.38. The firm has a market cap of $23.78 billion, a price-to-earnings ratio of 17.59, a P/E/G ratio of 0.56 and a beta of 1.74. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.59.

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

Wall Street Analyst Weigh In

Separately, Bank of America upgraded 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. 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, the company has a consensus rating of “Moderate Buy” and an average 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.