ArcelorMittal SA (MT) Stake Lessened by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its stake in shares of ArcelorMittal SA (NYSE:MT) by 33.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,074 shares of the basic materials company’s stock after selling 5,135 shares during the period. Oppenheimer & Co. Inc.’s holdings in ArcelorMittal were worth $311,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the company. Greenleaf Trust raised its position in shares of ArcelorMittal by 18.9% during the second quarter. Greenleaf Trust now owns 9,882 shares of the basic materials company’s stock worth $284,000 after purchasing an additional 1,572 shares during the period. LPL Financial LLC grew its holdings in shares of ArcelorMittal by 23.4% during the first quarter. LPL Financial LLC now owns 8,501 shares of the basic materials company’s stock valued at $270,000 after buying an additional 1,610 shares in the last quarter. Raymond James & Associates grew its holdings in shares of ArcelorMittal by 10.4% during the second quarter. Raymond James & Associates now owns 19,110 shares of the basic materials company’s stock valued at $550,000 after buying an additional 1,796 shares in the last quarter. Intrust Bank NA grew its holdings in shares of ArcelorMittal by 6.1% during the second quarter. Intrust Bank NA now owns 32,517 shares of the basic materials company’s stock valued at $936,000 after buying an additional 1,874 shares in the last quarter. Finally, BlackRock Inc. grew its holdings in shares of ArcelorMittal by 2.7% during the second quarter. BlackRock Inc. now owns 89,829 shares of the basic materials company’s stock valued at $2,586,000 after buying an additional 2,364 shares in the last quarter. 3.35% of the stock is currently owned by institutional investors.

Shares of NYSE MT opened at $25.36 on Friday. The company has a current ratio of 1.38, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21. ArcelorMittal SA has a one year low of $23.80 and a one year high of $37.50. The stock has a market capitalization of $26.58 billion, a price-to-earnings ratio of 4.75, a PEG ratio of 2.70 and a beta of 2.28.

ArcelorMittal (NYSE:MT) last issued its earnings results on Thursday, November 1st. The basic materials company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.11). ArcelorMittal had a net margin of 6.62% and a return on equity of 12.59%. The firm had revenue of $18.52 billion during the quarter, compared to analysts’ expectations of $19.33 billion. During the same quarter last year, the firm earned $1.18 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities research analysts anticipate that ArcelorMittal SA will post 5.18 EPS for the current fiscal year.

A number of research analysts have recently weighed in on the company. ValuEngine upgraded ArcelorMittal from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Credit Suisse Group reiterated a “buy” rating on shares of ArcelorMittal in a report on Wednesday, August 8th. Zacks Investment Research downgraded ArcelorMittal from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 4th. Jefferies Financial Group reiterated a “buy” rating on shares of ArcelorMittal in a report on Monday, September 17th. Finally, Deutsche Bank reiterated a “buy” rating on shares of ArcelorMittal in a report on Tuesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. ArcelorMittal currently has an average rating of “Buy” and an average target price of $37.00.

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ArcelorMittal Company Profile

ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through NAFTA, Brazil, Europe, ACIS, and Mining segments. The company produces finished and semi-finished steel products with various specifications.

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Institutional Ownership by Quarter for ArcelorMittal (NYSE:MT)

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