International Assets Investment Management LLC Invests $5.16 Million in ArcelorMittal S.A. (NYSE:MT)

International Assets Investment Management LLC purchased a new position in ArcelorMittal S.A. (NYSE:MT) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,193 shares of the basic materials company’s stock, valued at approximately $5,160,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership grew its holdings in shares of ArcelorMittal by 1,300.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,349,935 shares of the basic materials company’s stock valued at $171,251,000 after purchasing an additional 4,967,981 shares during the last quarter. BlackRock Inc. grew its holdings in shares of ArcelorMittal by 96.3% during the 1st quarter. BlackRock Inc. now owns 3,706,360 shares of the basic materials company’s stock valued at $118,642,000 after purchasing an additional 1,818,361 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of ArcelorMittal during the 1st quarter valued at $54,502,000. Morgan Stanley grew its holdings in shares of ArcelorMittal by 111.6% during the 3rd quarter. Morgan Stanley now owns 3,036,238 shares of the basic materials company’s stock valued at $75,997,000 after purchasing an additional 1,601,336 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of ArcelorMittal by 408.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 974,988 shares of the basic materials company’s stock valued at $4,005,000 after purchasing an additional 783,241 shares during the last quarter. Institutional investors own 9.88% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of ArcelorMittal from a “buy” rating to a “hold” rating in a report on Monday, March 4th.

ArcelorMittal Price Performance

Shares of ArcelorMittal stock opened at $26.95 on Tuesday. The firm has a market cap of $21.70 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 0.34 and a beta of 1.93. The company’s fifty day simple moving average is $26.94 and its two-hundred day simple moving average is $25.89. The company has a quick ratio of 0.67, a current ratio of 1.53 and a debt-to-equity ratio of 0.15. ArcelorMittal S.A. has a 12-month low of $21.30 and a 12-month high of $30.15.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, February 8th. The basic materials company reported ($3.57) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.08) by ($1.49). ArcelorMittal had a return on equity of 8.55% and a net margin of 1.35%. The business had revenue of $14.55 billion during the quarter, compared to the consensus estimate of $16.39 billion. During the same period in the previous year, the business earned $1.37 earnings per share. The firm’s revenue for the quarter was down 13.8% compared to the same quarter last year. As a group, equities analysts expect that ArcelorMittal S.A. will post 4.37 EPS 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.