Pzena Investment Management LLC Has $834,000 Holdings in ArcelorMittal S.A. (NYSE:MT)

Pzena Investment Management LLC increased its position in shares of ArcelorMittal S.A. (NYSE:MT) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,046 shares of the basic materials company’s stock after buying an additional 2,848 shares during the period. Pzena Investment Management LLC’s holdings in ArcelorMittal were worth $834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MT. Bank of New York Mellon Corp increased its stake in shares of ArcelorMittal by 221.3% during 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. ABC Arbitrage SA bought a new position in ArcelorMittal during the fourth quarter worth about $9,895,000. FMR LLC increased its position in ArcelorMittal by 46.7% during the third quarter. FMR LLC now owns 1,317,833 shares of the basic materials company’s stock worth $34,606,000 after buying an additional 419,465 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in ArcelorMittal by 90.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,335 shares of the basic materials company’s stock valued at $16,343,000 after buying an additional 295,682 shares during the period. Finally, Cerity Partners LLC lifted its position in shares of ArcelorMittal by 128.0% in the third quarter. Cerity Partners LLC now owns 464,315 shares of the basic materials company’s stock valued at $12,193,000 after buying an additional 260,633 shares during the last quarter. 9.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

ArcelorMittal Stock Performance

NYSE MT opened at $32.04 on Wednesday. The firm has a 50-day moving average price of $26.30 and a two-hundred day moving average price of $25.01. ArcelorMittal S.A. has a 12-month low of $20.52 and a 12-month high of $34.90. The company has a market capitalization of $26.25 billion, a P/E ratio of 19.42, a P/E/G ratio of 0.14 and a beta of 1.79. The company has a quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17.

ArcelorMittal (NYSE:MT) last released its quarterly 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 net margin of 2.14% and a return on equity of 4.31%. Analysts anticipate that ArcelorMittal S.A. will post 3.72 earnings per share 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.