ArcelorMittal S.A. (NYSE:MT) Shares Purchased by Pzena Investment Management LLC

Pzena Investment Management LLC grew its position in shares of ArcelorMittal S.A. (NYSE:MT) by 32.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 33,198 shares of the basic materials company’s stock after purchasing an additional 8,113 shares during the quarter. Pzena Investment Management LLC’s holdings in ArcelorMittal were worth $872,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Crossmark Global Holdings Inc. lifted its stake in shares of ArcelorMittal by 4.6% during the second quarter. Crossmark Global Holdings Inc. now owns 12,927 shares of the basic materials company’s stock valued at $296,000 after buying an additional 572 shares during the period. Rhumbline Advisers raised its holdings in ArcelorMittal by 6.8% in the 2nd quarter. Rhumbline Advisers now owns 9,633 shares of the basic materials company’s stock valued at $221,000 after acquiring an additional 610 shares during the last quarter. Trust Co. of Toledo NA OH lifted its stake in shares of ArcelorMittal by 5.6% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 26,135 shares of the basic materials company’s stock worth $599,000 after purchasing an additional 1,395 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of ArcelorMittal by 298.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock worth $54,000 after purchasing an additional 1,771 shares during the last quarter. Finally, Seascape Capital Management grew its position in shares of ArcelorMittal by 7.4% in the third quarter. Seascape Capital Management now owns 26,170 shares of the basic materials company’s stock valued at $687,000 after purchasing an additional 1,812 shares during the period. 9.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

ArcelorMittal Price Performance

Shares of NYSE:MT opened at $25.08 on Thursday. ArcelorMittal S.A. has a 12 month low of $20.52 and a 12 month high of $29.01. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 1.46. The business has a 50-day moving average of $24.66 and a two-hundred day moving average of $24.01.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.11 billion. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The company’s revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 EPS. On average, analysts anticipate that ArcelorMittal S.A. will post 2.99 earnings per share for the current fiscal year.

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.