Oppenheimer Asset Management Inc. Has $1.28 Million Position in ArcelorMittal S.A. (NYSE:MT)

Oppenheimer Asset Management Inc. trimmed its stake in ArcelorMittal S.A. (NYSE:MT) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,265 shares of the basic materials company’s stock after selling 1,841 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in ArcelorMittal were worth $1,278,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MT. Bank of New York Mellon Corp raised its holdings in ArcelorMittal by 221.3% during the fourth 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 buying an additional 2,344,020 shares during the last quarter. FMR LLC increased its position in shares of 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 acquiring an additional 419,465 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of ArcelorMittal by 90.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,335 shares of the basic materials company’s stock worth $16,343,000 after acquiring an additional 295,682 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of ArcelorMittal by 128.0% in the 3rd quarter. Cerity Partners LLC now owns 464,315 shares of the basic materials company’s stock worth $12,193,000 after acquiring an additional 260,633 shares during the last quarter. Finally, ABC Arbitrage SA bought a new position in ArcelorMittal in the 4th quarter valued at about $9,895,000. 9.29% of the stock is owned by institutional investors.

ArcelorMittal Price Performance

Shares of NYSE MT opened at $29.49 on Tuesday. The company has a market capitalization of $24.16 billion, a PE ratio of 17.87, a PEG ratio of 0.14 and a beta of 1.74. The company has a quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average price is $25.19 and its 200-day moving average price is $24.61. ArcelorMittal S.A. has a twelve month low of $20.52 and a twelve month high of $30.38.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, February 6th. The basic materials company reported $0.52 earnings per share 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%. On average, equities analysts anticipate that ArcelorMittal S.A. will post 3.72 EPS for the current year.

Wall Street Analysts Forecast Growth

MT has been the subject of several analyst reports. Bank of America raised ArcelorMittal from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $30.00 to $32.90 in a research note on Thursday, November 14th. Morgan Stanley cut ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 14th. Four 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.com, ArcelorMittal currently has a consensus rating of “Hold” and a consensus target price of $31.17.

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.