Vestmark Advisory Solutions Inc. Acquires Shares of 11,070 ArcelorMittal S.A. (NYSE:MT)

Vestmark Advisory Solutions Inc. acquired a new stake in shares of ArcelorMittal S.A. (NYSE:MT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,070 shares of the basic materials company’s stock, valued at approximately $256,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in ArcelorMittal during the fourth quarter valued at $2,777,000. Charles Schwab Investment Management Inc. lifted its position in ArcelorMittal by 24.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 67,562 shares of the basic materials company’s stock valued at $1,563,000 after buying an additional 13,141 shares during the period. Smartleaf Asset Management LLC raised its position in shares of ArcelorMittal by 76.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company’s stock worth $137,000 after purchasing an additional 2,586 shares during the last quarter. US Bancorp DE raised its position in shares of ArcelorMittal by 5.0% in the 4th quarter. US Bancorp DE now owns 15,085 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 717 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of 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 purchasing an additional 2,344,020 shares during the last quarter. Hedge funds and other institutional investors own 9.29% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MT shares. Bank of America raised ArcelorMittal from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $30.00 to $32.90 in a research report on Thursday, November 14th. Morgan Stanley lowered ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, ArcelorMittal presently has an average rating of “Moderate Buy” and a consensus target price of $31.17.

ArcelorMittal Price Performance

Shares of NYSE:MT opened at $33.17 on Monday. ArcelorMittal S.A. has a fifty-two week low of $20.52 and a fifty-two week high of $34.90. The business has a 50-day simple moving average of $25.95 and a two-hundred day simple moving average of $24.89. 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 firm has a market cap of $27.18 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 0.14 and a beta of 1.79.

ArcelorMittal (NYSE:MT) last issued its earnings results 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 return on equity of 4.31% and a net margin of 2.14%. On average, analysts expect that ArcelorMittal S.A. will post 3.72 earnings per share for the current 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.