Quantinno Capital Management LP Boosts Position in ArcelorMittal S.A. (NYSE:MT)

Quantinno Capital Management LP lifted its stake in shares of ArcelorMittal S.A. (NYSE:MT) by 210.6% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 114,324 shares of the basic materials company’s stock after acquiring an additional 77,519 shares during the period. Quantinno Capital Management LP’s holdings in ArcelorMittal were worth $3,002,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. raised its holdings in ArcelorMittal by 1,820.0% in the 2nd quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company’s stock valued at $46,000 after buying an additional 1,911 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in ArcelorMittal by 298.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock valued at $54,000 after buying an additional 1,771 shares during the period. CWM LLC raised its holdings in ArcelorMittal by 378.2% in the 2nd quarter. CWM LLC now owns 4,930 shares of the basic materials company’s stock valued at $113,000 after buying an additional 3,899 shares during the period. SG Americas Securities LLC purchased a new stake in ArcelorMittal in the 2nd quarter valued at about $156,000. Finally, Rhumbline Advisers raised its holdings in ArcelorMittal by 6.8% in the 2nd quarter. Rhumbline Advisers now owns 9,633 shares of the basic materials company’s stock valued at $221,000 after buying an additional 610 shares during the period. Hedge funds and other institutional investors own 9.29% of the company’s stock.

ArcelorMittal Stock Up 1.8 %

Shares of NYSE:MT opened at $25.75 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.59. The firm has a market capitalization of $20.73 billion, a PE ratio of -18.26, a price-to-earnings-growth ratio of 0.60 and a beta of 1.74. The firm’s 50-day moving average is $24.88 and its two-hundred day moving average is $23.94. ArcelorMittal S.A. has a 1 year low of $20.52 and a 1 year high of $29.01.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The company had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.11 billion. During the same period in the prior year, the firm earned $1.10 earnings per share. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. Analysts predict that ArcelorMittal S.A. will post 3.02 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MT. JPMorgan Chase & Co. lowered shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and boosted their price objective for the company from $29.00 to $31.00 in a report on Wednesday, August 28th. Bank of America upgraded shares of ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $30.00 to $32.90 in a research note on Thursday, November 14th. Finally, Barclays upgraded shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $31.17.

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.