Charles Schwab Investment Management Inc. Buys 15,285 Shares of ArcelorMittal S.A. (NYSE:MT)

Charles Schwab Investment Management Inc. grew its position in ArcelorMittal S.A. (NYSE:MT) by 39.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,421 shares of the basic materials company’s stock after acquiring an additional 15,285 shares during the period. Charles Schwab Investment Management Inc.’s holdings in ArcelorMittal were worth $1,429,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MT. Bank of New York Mellon Corp increased its position in ArcelorMittal by 2,038.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 822,426 shares of the basic materials company’s stock worth $18,858,000 after buying an additional 783,965 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of ArcelorMittal by 90.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,335 shares of the basic materials company’s stock worth $16,343,000 after purchasing an additional 295,682 shares during the last quarter. Encompass Capital Advisors LLC acquired a new position in shares of ArcelorMittal in the second quarter worth approximately $12,679,000. Van ECK Associates Corp increased its position in shares of ArcelorMittal by 1.8% during the second quarter. Van ECK Associates Corp now owns 225,420 shares of the basic materials company’s stock worth $5,169,000 after buying an additional 3,994 shares during the period. Finally, Pathstone Holdings LLC boosted its position in shares of ArcelorMittal by 136.9% during the 3rd quarter. Pathstone Holdings LLC now owns 178,035 shares of the basic materials company’s stock valued at $4,675,000 after purchasing an additional 102,876 shares in the last quarter. Institutional investors and hedge funds own 9.29% of the company’s stock.

ArcelorMittal Price Performance

Shares of ArcelorMittal stock opened at $24.52 on Tuesday. The stock has a market capitalization of $19.75 billion, a P/E ratio of -17.39, a price-to-earnings-growth ratio of 0.64 and a beta of 1.74. ArcelorMittal S.A. has a one year low of $20.52 and a one year high of $29.01. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.59. The business’s 50 day simple moving average is $24.83 and its two-hundred day simple moving average is $23.92.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The business had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.11 billion. During the same period in the previous year, the firm earned $1.10 EPS. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. Analysts forecast that ArcelorMittal S.A. will post 2.93 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research report on Friday, October 11th. Barclays raised ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research report on Monday, August 19th. Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $30.00 to $32.90 in a research note on Thursday, November 14th. Finally, Deutsche Bank Aktiengesellschaft upgraded ArcelorMittal from a “hold” rating to a “buy” rating and upped their target price for the stock from $29.00 to $31.00 in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, ArcelorMittal has an average rating of “Moderate Buy” and an average price target of $31.17.

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.