Smartleaf Asset Management LLC Purchases 2,586 Shares of ArcelorMittal S.A. (NYSE:MT)

Smartleaf Asset Management LLC grew its position in ArcelorMittal S.A. (NYSE:MT) by 76.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,963 shares of the basic materials company’s stock after acquiring an additional 2,586 shares during the quarter. Smartleaf Asset Management LLC’s holdings in ArcelorMittal were worth $137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in ArcelorMittal by 68.5% in the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 595 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in ArcelorMittal by 154.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 57,106 shares of the basic materials company’s stock worth $1,500,000 after acquiring an additional 34,688 shares during the last quarter. Natixis Advisors LLC increased its stake in ArcelorMittal by 171.4% in the 3rd quarter. Natixis Advisors LLC now owns 130,100 shares of the basic materials company’s stock worth $3,416,000 after acquiring an additional 82,164 shares during the last quarter. Bank of New York Mellon Corp increased its stake in 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. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in ArcelorMittal in the 3rd quarter worth approximately $642,000. Institutional investors own 9.29% of the company’s stock.

ArcelorMittal Stock Performance

NYSE MT opened at $33.17 on Friday. The company has a market cap of $27.18 billion, a P/E ratio of 20.11, a P/E/G ratio of 0.14 and a beta of 1.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35. The business’s 50 day moving average price is $25.95 and its 200-day moving average price is $24.86. ArcelorMittal S.A. has a fifty-two week low of $20.52 and a fifty-two week high of $34.90.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, February 6th. The basic materials company reported $0.52 earnings per share (EPS) 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%. Sell-side analysts predict that ArcelorMittal S.A. will post 3.72 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Morgan Stanley downgraded ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Bank of America raised ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their target price for the company from $30.00 to $32.90 in a research report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.17.

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.