Connor Clark & Lunn Investment Management Ltd. Has $35.51 Million Holdings in ArcelorMittal S.A. (NYSE:MT)

Connor Clark & Lunn Investment Management Ltd. grew its stake in ArcelorMittal S.A. (NYSE:MT) by 146.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,535,319 shares of the basic materials company’s stock after buying an additional 912,984 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in ArcelorMittal were worth $35,512,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. HighTower Advisors LLC lifted its position in shares of ArcelorMittal by 11.6% in the fourth quarter. HighTower Advisors LLC now owns 13,746 shares of the basic materials company’s stock worth $318,000 after purchasing an additional 1,426 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of ArcelorMittal by 8.6% in the fourth quarter. Pzena Investment Management LLC now owns 36,046 shares of the basic materials company’s stock worth $834,000 after purchasing an additional 2,848 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its position in shares of ArcelorMittal by 9.1% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,545 shares of the basic materials company’s stock worth $221,000 after purchasing an additional 797 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of ArcelorMittal by 23.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 9,076 shares of the basic materials company’s stock worth $210,000 after purchasing an additional 1,702 shares in the last quarter. Finally, Callan Family Office LLC bought a new stake in shares of ArcelorMittal in the fourth quarter worth $207,000. Institutional investors own 9.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MT shares. Bank of America raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $30.00 to $32.90 in a research report on Thursday, November 14th. Morgan Stanley lowered shares of 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 company. According to data from MarketBeat.com, ArcelorMittal presently has a consensus rating of “Moderate Buy” and an average price target of $31.17.

ArcelorMittal Stock Performance

NYSE MT opened at $30.53 on Thursday. The company has a current ratio of 1.35, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. The firm’s fifty day moving average price is $26.45 and its two-hundred day moving average price is $25.05. ArcelorMittal S.A. has a 1 year low of $20.52 and a 1 year high of $34.90. The firm has a market capitalization of $25.01 billion, a P/E ratio of 18.50, a price-to-earnings-growth ratio of 0.14 and a beta of 1.79.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.09). ArcelorMittal had a return on equity of 4.31% and a net margin of 2.14%. As a group, research analysts anticipate that ArcelorMittal S.A. will post 3.72 EPS for the current year.

About ArcelorMittal

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.