22,418 Shares in ArcelorMittal S.A. (NYSE:MT) Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. acquired a new stake in shares of ArcelorMittal S.A. (NYSE:MT) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 22,418 shares of the basic materials company’s stock, valued at approximately $514,000.

Other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in shares of ArcelorMittal during the first quarter valued at approximately $2,705,000. Goldman Sachs Group Inc. boosted its holdings in shares of ArcelorMittal by 8.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 839,485 shares of the basic materials company’s stock valued at $23,833,000 after buying an additional 66,813 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of ArcelorMittal by 24.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,115 shares of the basic materials company’s stock worth $117,000 after buying an additional 818 shares during the period. Blue Trust Inc. grew its position in shares of ArcelorMittal by 1,820.0% in the 2nd quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company’s stock worth $46,000 after buying an additional 1,911 shares during the period. Finally, Quantbot Technologies LP increased its stake in shares of ArcelorMittal by 160.6% in the 1st quarter. Quantbot Technologies LP now owns 57,664 shares of the basic materials company’s stock worth $1,590,000 after acquiring an additional 35,535 shares in the last quarter. 9.88% of the stock is currently owned by institutional investors.

ArcelorMittal Trading Down 1.6 %

Shares of NYSE MT opened at $23.97 on Friday. The firm’s 50 day moving average price is $22.61 and its 200-day moving average price is $24.51. ArcelorMittal S.A. has a 52-week low of $20.52 and a 52-week high of $29.01. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.66 and a current ratio of 1.53. The company has a market cap of $19.30 billion, a PE ratio of 26.93, a P/E/G ratio of 0.37 and a beta of 1.76.

ArcelorMittal (NYSE:MT) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.49). The business had revenue of $16.25 billion during the quarter, compared to the consensus estimate of $16.32 billion. ArcelorMittal had a negative net margin of 0.93% and a positive return on equity of 6.00%. The business’s revenue was down 12.7% compared to the same quarter last year. During the same period last year, the company posted $2.20 earnings per share. On average, equities research analysts expect that ArcelorMittal S.A. will post 3.51 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MT has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and upped their price objective for the stock from $29.00 to $31.00 in a report on Wednesday, August 28th. Barclays upgraded ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.30.

ArcelorMittal 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.