Charles Schwab Investment Management Inc. Boosts Stake in ArcelorMittal S.A. (NYSE:MT)

Charles Schwab Investment Management Inc. raised its position in ArcelorMittal S.A. (NYSE:MT) by 24.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,562 shares of the basic materials company’s stock after purchasing an additional 13,141 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in ArcelorMittal were worth $1,563,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its stake in shares of ArcelorMittal by 89.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock valued at $26,000 after buying an additional 536 shares in the last quarter. GAMMA Investing LLC boosted its holdings in ArcelorMittal by 68.5% during the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 595 shares during the period. Smartleaf Asset Management LLC grew its position in ArcelorMittal by 76.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company’s stock valued at $137,000 after acquiring an additional 2,586 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in ArcelorMittal during the fourth quarter worth about $212,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of ArcelorMittal during the fourth quarter worth about $233,000. 9.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MT. Jefferies Financial Group cut shares of ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 price objective for the company. in a report on Wednesday. Morgan Stanley downgraded shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, ArcelorMittal currently has an average rating of “Hold” and an average price target of $32.43.

ArcelorMittal Stock Down 3.1 %

Shares of NYSE:MT opened at $28.81 on Friday. ArcelorMittal S.A. has a fifty-two week low of $20.52 and a fifty-two week high of $34.90. The firm’s 50 day moving average price is $28.60 and its 200 day moving average price is $25.77. 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 stock has a market cap of $23.60 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 0.14 and a beta of 1.79.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data 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 4.31%. As a group, equities research analysts predict that ArcelorMittal S.A. will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Announces Dividend

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