Pathstone Holdings LLC Purchases 102,876 Shares of ArcelorMittal S.A. (NYSE:MT)

Pathstone Holdings LLC lifted its stake in shares of ArcelorMittal S.A. (NYSE:MT) by 136.9% in the third quarter, Holdings Channel.com reports. The fund owned 178,035 shares of the basic materials company’s stock after acquiring an additional 102,876 shares during the quarter. Pathstone Holdings LLC’s holdings in ArcelorMittal were worth $4,675,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of MT. Blue Trust Inc. raised its holdings in shares of ArcelorMittal by 1,820.0% during the second quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 1,911 shares during the period. Mather Group LLC. increased its position in shares of ArcelorMittal by 1,388.6% during the second quarter. Mather Group LLC. now owns 2,218 shares of the basic materials company’s stock worth $51,000 after acquiring an additional 2,069 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of ArcelorMittal by 298.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock worth $54,000 after acquiring an additional 1,771 shares during the last quarter. CWM LLC lifted its position in ArcelorMittal by 378.2% in the 2nd quarter. CWM LLC now owns 4,930 shares of the basic materials company’s stock valued at $113,000 after acquiring an additional 3,899 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in ArcelorMittal during the 2nd quarter valued at about $156,000. Institutional investors and hedge funds own 9.88% of the company’s stock.

Wall Street Analyst Weigh In

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

ArcelorMittal Trading Down 0.7 %

Shares of MT stock opened at $25.11 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm has a market cap of $20.22 billion, a P/E ratio of -17.81, a PEG ratio of 0.61 and a beta of 1.77. The company has a 50 day moving average of $24.77 and a 200-day moving average of $24.02. ArcelorMittal S.A. has a 12-month low of $20.52 and a 12-month high of $29.01.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, November 7th. The basic materials company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.11 billion. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. ArcelorMittal’s revenue was down 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.10 EPS. Sell-side analysts anticipate that ArcelorMittal S.A. will post 2.99 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.