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

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

A number of other institutional investors also recently bought and sold shares of MT. Wellington Management Group LLP grew its position in shares of ArcelorMittal by 10.2% during the 3rd quarter. Wellington Management Group LLP now owns 370,804 shares of the basic materials company’s stock valued at $9,281,000 after acquiring an additional 34,205 shares during the period. Van ECK Associates Corp raised its stake in shares of ArcelorMittal by 22.2% in the third quarter. Van ECK Associates Corp now owns 242,970 shares of the basic materials company’s stock worth $6,082,000 after buying an additional 44,170 shares during the period. American Century Companies Inc. lifted its position in shares of ArcelorMittal by 4.4% during the 3rd quarter. American Century Companies Inc. now owns 214,413 shares of the basic materials company’s stock valued at $5,367,000 after buying an additional 9,117 shares in the last quarter. Appian Way Asset Management LP purchased a new position in shares of ArcelorMittal during the 3rd quarter valued at about $4,786,000. Finally, Recurrent Investment Advisors LLC grew its stake in shares of ArcelorMittal by 32.0% during the 3rd quarter. Recurrent Investment Advisors LLC now owns 128,015 shares of the basic materials company’s stock valued at $3,044,000 after acquiring an additional 31,067 shares during the period. Institutional investors own 9.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MT. StockNews.com lowered shares of ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $31.00 price target (down previously from $34.00) on shares of ArcelorMittal in a research note on Tuesday, April 16th.

ArcelorMittal Trading Down 1.1 %

Shares of MT opened at $25.38 on Thursday. The firm has a market cap of $20.44 billion, a P/E ratio of 28.52, a price-to-earnings-growth ratio of 0.42 and a beta of 1.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.55 and a quick ratio of 0.65. ArcelorMittal S.A. has a 1 year low of $21.30 and a 1 year high of $29.15. The company has a 50 day simple moving average of $26.40 and a two-hundred day simple moving average of $26.10.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.23. ArcelorMittal had a net margin of 1.15% and a return on equity of 8.29%. The company had revenue of $16.28 billion for the quarter, compared to the consensus estimate of $16.67 billion. During the same period in the previous year, the firm posted $1.27 EPS. ArcelorMittal’s revenue for the quarter was down 12.0% compared to the same quarter last year. On average, equities analysts expect that ArcelorMittal S.A. will post 3.91 earnings per share for the current fiscal year.

ArcelorMittal Dividend Announcement

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 17th will be paid a dividend of $0.213 per share. The ex-dividend date is Thursday, May 16th. ArcelorMittal’s payout ratio is presently 47.19%.

ArcelorMittal 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.