US Bancorp DE Boosts Stock Holdings in ArcelorMittal S.A. (NYSE:MT)

US Bancorp DE lifted its position in shares of ArcelorMittal S.A. (NYSE:MT) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,085 shares of the basic materials company’s stock after purchasing an additional 717 shares during the period. US Bancorp DE’s holdings in ArcelorMittal were worth $349,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in ArcelorMittal by 221.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company’s stock worth $78,712,000 after buying an additional 2,344,020 shares in the last quarter. Callan Capital LLC raised its stake in ArcelorMittal by 53.8% in the fourth quarter. Callan Capital LLC now owns 31,555 shares of the basic materials company’s stock worth $730,000 after buying an additional 11,042 shares in the last quarter. ABC Arbitrage SA bought a new position in ArcelorMittal in the fourth quarter worth about $9,895,000. Geneos Wealth Management Inc. raised its stake 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 buying an additional 536 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of ArcelorMittal during the fourth quarter valued at approximately $233,000. 9.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

ArcelorMittal Trading Up 1.1 %

NYSE:MT opened at $30.85 on Friday. ArcelorMittal S.A. has a 52 week low of $20.52 and a 52 week high of $34.90. 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 company’s 50 day moving average price is $26.61 and its 200-day moving average price is $25.09. The stock has a market cap of $25.27 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 0.14 and a beta of 1.79.

ArcelorMittal (NYSE:MT) last issued its earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share (EPS) 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%. On average, equities research analysts forecast that ArcelorMittal S.A. will post 3.72 earnings per share for the current fiscal 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.