Raymond James Financial Inc. Purchases Shares of 120,051 ArcelorMittal S.A. (NYSE:MT)

Raymond James Financial Inc. acquired 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 fund acquired 120,051 shares of the basic materials company’s stock, valued at approximately $2,777,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of MT. Bank of New York Mellon Corp grew its holdings in shares of ArcelorMittal by 221.3% in the 4th 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 during the last quarter. ABC Arbitrage SA purchased a new position in ArcelorMittal in the 4th quarter worth about $9,895,000. FMR LLC raised its holdings in 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 buying an additional 419,465 shares during the period. Quantinno Capital Management LP lifted its stake in ArcelorMittal by 210.6% during the third quarter. Quantinno Capital Management LP now owns 114,324 shares of the basic materials company’s stock valued at $3,002,000 after buying an additional 77,519 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of ArcelorMittal by 23.1% in the third quarter. Bank of Montreal Can now owns 174,995 shares of the basic materials company’s stock worth $4,543,000 after buying an additional 32,834 shares during the period. 9.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MT has been the subject of several research analyst reports. Morgan Stanley downgraded shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Jefferies Financial Group downgraded ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 price target on the stock. in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $32.43.

ArcelorMittal Stock Down 3.1 %

MT stock opened at $28.81 on Friday. The company has a 50 day moving average of $28.60 and a two-hundred day moving average of $25.74. The company has a market cap of $23.60 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 0.14 and a beta of 1.79. ArcelorMittal S.A. has a 12-month low of $20.52 and a 12-month 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.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data 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 analysts anticipate that ArcelorMittal S.A. will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Announces Dividend

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

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.