ArcelorMittal S.A. (NYSE:MT) Stock Holdings Lowered by Van ECK Associates Corp

Van ECK Associates Corp lowered its position in shares of ArcelorMittal S.A. (NYSE:MT) by 7.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 188,475 shares of the basic materials company’s stock after selling 14,467 shares during the period. Van ECK Associates Corp’s holdings in ArcelorMittal were worth $4,359,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its position in shares of ArcelorMittal by 68.5% during the fourth quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 595 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of ArcelorMittal by 154.7% during the third quarter. Oppenheimer Asset Management Inc. now owns 57,106 shares of the basic materials company’s stock worth $1,500,000 after acquiring an additional 34,688 shares during the last quarter. Natixis Advisors LLC grew its position in ArcelorMittal by 171.4% in the 3rd quarter. Natixis Advisors LLC now owns 130,100 shares of the basic materials company’s stock valued at $3,416,000 after buying an additional 82,164 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in ArcelorMittal in the 3rd quarter valued at about $642,000. Finally, Mediolanum International Funds Ltd bought a new position in ArcelorMittal in the 3rd quarter valued at about $3,042,000. Institutional investors own 9.29% of the company’s stock.

ArcelorMittal Price Performance

Shares of NYSE MT opened at $28.88 on Wednesday. ArcelorMittal S.A. has a twelve month low of $20.52 and a twelve month high of $29.38. The company has a current ratio of 1.46, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $23.66 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 0.56 and a beta of 1.74. The firm has a 50-day moving average of $24.39 and a two-hundred day moving average of $24.14.

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

Wall Street Analysts Forecast Growth

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

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.