PNC Financial Services Group Inc. Purchases 1,702 Shares of ArcelorMittal S.A. (NYSE:MT)

PNC Financial Services Group Inc. boosted its position in ArcelorMittal S.A. (NYSE:MT) by 23.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,076 shares of the basic materials company’s stock after buying an additional 1,702 shares during the quarter. PNC Financial Services Group Inc.’s holdings in ArcelorMittal were worth $210,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of MT. Bank of New York Mellon Corp raised its holdings in ArcelorMittal by 221.3% during 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 acquiring an additional 2,344,020 shares in the last quarter. ABC Arbitrage SA acquired a new position in shares of ArcelorMittal during the 4th quarter worth approximately $9,895,000. FMR LLC raised its stake in shares of ArcelorMittal by 46.7% during the 3rd quarter. FMR LLC now owns 1,317,833 shares of the basic materials company’s stock worth $34,606,000 after purchasing an additional 419,465 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of ArcelorMittal by 128.0% in the 3rd quarter. Cerity Partners LLC now owns 464,315 shares of the basic materials company’s stock valued at $12,193,000 after buying an additional 260,633 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of ArcelorMittal in the fourth quarter valued at $2,777,000. Institutional investors own 9.29% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley lowered shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, ArcelorMittal presently has a consensus rating of “Moderate Buy” and an average target price of $31.17.

ArcelorMittal Stock Down 1.3 %

MT opened at $31.60 on Monday. The stock’s fifty day simple moving average is $27.84 and its 200 day simple moving average is $25.50. ArcelorMittal S.A. has a 1-year low of $20.52 and a 1-year high of $34.90. The stock has a market cap of $25.88 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 0.14 and a beta of 1.79. The company has a current ratio of 1.35, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings data on Thursday, February 6th. The basic materials company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. As a group, research analysts expect that ArcelorMittal S.A. will post 3.72 earnings per share for the current year.

ArcelorMittal Dividend Announcement

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

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.