Flow Traders U.S. LLC Buys Shares of 14,050 ArcelorMittal S.A. (NYSE:MT)

Flow Traders U.S. LLC bought a new position in shares of ArcelorMittal S.A. (NYSE:MT) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 14,050 shares of the basic materials company’s stock, valued at approximately $369,000.

Several other large investors have also recently bought and sold shares of the business. Crossmark Global Holdings Inc. increased its position in ArcelorMittal by 4.6% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,927 shares of the basic materials company’s stock worth $296,000 after purchasing an additional 572 shares in the last quarter. Rhumbline Advisers boosted its position in ArcelorMittal by 6.8% during the 2nd quarter. Rhumbline Advisers now owns 9,633 shares of the basic materials company’s stock valued at $221,000 after purchasing an additional 610 shares during the period. Pzena Investment Management LLC grew its position in shares of ArcelorMittal by 4.0% during the second quarter. Pzena Investment Management LLC now owns 25,085 shares of the basic materials company’s stock worth $575,000 after acquiring an additional 963 shares during the last quarter. Eagle Asset Management Inc. boosted its position in shares of ArcelorMittal by 11.2% during the third quarter. Eagle Asset Management Inc. now owns 16,008 shares of the basic materials company’s stock worth $418,000 after buying an additional 1,615 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in ArcelorMittal by 298.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock worth $54,000 after purchasing an additional 1,771 shares during the period. Hedge funds and other institutional investors own 9.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MT shares. Deutsche Bank Aktiengesellschaft raised ArcelorMittal from a “hold” rating to a “buy” rating and raised their price target for the stock from $29.00 to $31.00 in a research note on Wednesday, August 28th. Barclays raised ArcelorMittal from an “equal weight” rating to an “overweight” rating in a report on Monday, August 19th. JPMorgan Chase & Co. cut shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a report on Friday, October 11th. Finally, Bank of America raised shares of 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 report on Thursday, November 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, ArcelorMittal has an average rating of “Moderate Buy” and an average price target of $31.17.

ArcelorMittal Stock Performance

NYSE MT opened at $25.37 on Friday. ArcelorMittal S.A. has a 52-week low of $20.52 and a 52-week high of $29.01. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 1.46. The company has a 50-day simple moving average of $24.90 and a 200 day simple moving average of $23.96. The company has a market capitalization of $20.43 billion, a PE ratio of -17.99, a price-to-earnings-growth ratio of 0.60 and a beta of 1.74.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The business had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.11 billion. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%. The company’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter last year, the business posted $1.10 earnings per share. On average, research analysts predict that ArcelorMittal S.A. will post 3.02 EPS for the current year.

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.