Crossmark Global Holdings Inc. Has $913,000 Stake in ArcelorMittal S.A. (NYSE:MT)

Crossmark Global Holdings Inc. grew its position in ArcelorMittal S.A. (NYSE:MT) by 168.9% during the third quarter, HoldingsChannel.com reports. The firm owned 34,766 shares of the basic materials company’s stock after buying an additional 21,839 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in ArcelorMittal were worth $913,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Blue Trust Inc. grew its position in ArcelorMittal by 1,820.0% in 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 in the last quarter. Mather Group LLC. grew its holdings in shares of ArcelorMittal by 1,388.6% in the 2nd quarter. Mather Group LLC. now owns 2,218 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 2,069 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of ArcelorMittal by 298.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock valued at $54,000 after acquiring an additional 1,771 shares during the last quarter. Headlands Technologies LLC bought a new stake in ArcelorMittal during the first quarter worth about $71,000. Finally, CWM LLC boosted its position in ArcelorMittal by 378.2% during the second quarter. CWM LLC now owns 4,930 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 3,899 shares during the last quarter. 9.88% of the stock is owned by institutional investors and hedge funds.

ArcelorMittal Trading Up 3.0 %

Shares of ArcelorMittal stock opened at $24.49 on Friday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.59. The business has a fifty day simple moving average of $24.36 and a two-hundred day simple moving average of $24.03. ArcelorMittal S.A. has a 1 year low of $20.52 and a 1 year high of $29.01. The company has a market capitalization of $19.72 billion, a price-to-earnings ratio of -17.71, a P/E/G ratio of 0.47 and a beta of 1.77.

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. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The company had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.11 billion. During the same quarter last year, the company posted $1.10 EPS. ArcelorMittal’s quarterly revenue was down 8.5% compared to the same quarter last year. Research analysts forecast that ArcelorMittal S.A. will post 3 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MT. Deutsche Bank Aktiengesellschaft upgraded ArcelorMittal from a “hold” rating to a “buy” rating and upped their price objective for the stock from $29.00 to $31.00 in a research note on Wednesday, August 28th. Bank of America raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and upped their price target for the stock from $30.00 to $32.90 in a research report on Thursday. JPMorgan Chase & Co. downgraded shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research report on Friday, October 11th. Finally, Barclays raised shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a report on Monday, August 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, ArcelorMittal presently has an average rating of “Moderate Buy” and a consensus target price of $31.17.

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.