Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in ArcelorMittal S.A. (NYSE:MT – Get Rating) by 8.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,040 shares of the basic materials company’s stock after buying an additional 1,412 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in ArcelorMittal were worth $379,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Captrust Financial Advisors grew its stake in ArcelorMittal by 166.1% in the 1st quarter. Captrust Financial Advisors now owns 1,381 shares of the basic materials company’s stock valued at $44,000 after buying an additional 862 shares during the last quarter. Wipfli Financial Advisors LLC acquired a new stake in ArcelorMittal in the 3rd quarter worth $42,000. Penserra Capital Management LLC acquired a new stake in ArcelorMittal in the 1st quarter worth $212,000. Quadrant Capital Group LLC grew its position in ArcelorMittal by 43.4% in the 2nd quarter. Quadrant Capital Group LLC now owns 6,748 shares of the basic materials company’s stock worth $153,000 after purchasing an additional 2,041 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its position in ArcelorMittal by 430.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,178 shares of the basic materials company’s stock worth $230,000 after purchasing an additional 5,825 shares during the last quarter. 5.40% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have issued reports on MT. Morgan Stanley decreased their price target on shares of ArcelorMittal from €40.00 ($43.48) to €38.00 ($41.30) and set an “overweight” rating on the stock in a research report on Tuesday, November 15th. StockNews.com upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating in a research report on Saturday, January 14th. JPMorgan Chase & Co. decreased their price target on shares of ArcelorMittal from €24.50 ($26.63) to €23.00 ($25.00) and set a “neutral” rating on the stock in a research report on Wednesday, December 14th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of ArcelorMittal from €37.00 ($40.22) to €33.00 ($35.87) in a research report on Monday, October 10th. Finally, UBS Group downgraded shares of ArcelorMittal from a “neutral” rating to a “sell” rating in a report on Wednesday, January 18th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ArcelorMittal has an average rating of “Hold” and an average price target of $32.94.
ArcelorMittal Trading Up 1.8 %
ArcelorMittal (NYSE:MT – Get Rating) last announced its quarterly earnings results on Thursday, November 10th. The basic materials company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.28. ArcelorMittal had a net margin of 15.62% and a return on equity of 24.32%. The firm had revenue of $18.98 billion during the quarter, compared to the consensus estimate of $17.22 billion. Research analysts forecast that ArcelorMittal S.A. will post 10.32 earnings per share for the current fiscal year.
ArcelorMittal Company Profile
ArcelorMittal SA is a holding company, which engages in steelmaking and mining activities. It operates through the following business segments: NAFTA; Brazil; Europe; Africa and Commonwealth of Independent States (ACIS), Mining, and Others. The NAFTA segment consists of flat products such as slabs, hot-rolled coil, cold-rolled coil, coated steel, and plate.
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