ArcelorMittal S.A. (NYSE:MT) Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its position in shares of ArcelorMittal S.A. (NYSE:MT) by 210.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 114,324 shares of the basic materials company’s stock after buying an additional 77,519 shares during the quarter. Quantinno Capital Management LP’s holdings in ArcelorMittal were worth $3,002,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Recurrent Investment Advisors LLC grew its holdings in ArcelorMittal by 8.2% in the third quarter. Recurrent Investment Advisors LLC now owns 102,290 shares of the basic materials company’s stock valued at $2,686,000 after purchasing an additional 7,753 shares during the period. Flow Traders U.S. LLC purchased a new position in shares of ArcelorMittal during the 3rd quarter valued at approximately $369,000. Capstone Investment Advisors LLC purchased a new position in shares of ArcelorMittal during the 3rd quarter valued at approximately $292,000. JB Capital Partners LP grew its stake in ArcelorMittal by 17.1% in the 3rd quarter. JB Capital Partners LP now owns 205,000 shares of the basic materials company’s stock valued at $5,383,000 after acquiring an additional 30,000 shares during the period. Finally, FORA Capital LLC purchased a new stake in ArcelorMittal in the 3rd quarter worth $445,000. Hedge funds and other institutional investors own 9.29% of the company’s stock.

ArcelorMittal Trading Up 1.8 %

Shares of MT opened at $25.75 on Tuesday. ArcelorMittal S.A. has a 52-week low of $20.52 and a 52-week high of $29.01. The company has a quick ratio of 0.59, a current ratio of 1.46 and a debt-to-equity ratio of 0.16. The firm’s fifty day moving average is $24.88 and its two-hundred day moving average is $23.94. The stock has a market cap 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.

ArcelorMittal (NYSE:MT) last announced its earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $15.11 billion. During the same quarter in the previous year, the company posted $1.10 EPS. The firm’s quarterly revenue was down 8.5% on a year-over-year basis. Research analysts forecast that ArcelorMittal S.A. will post 3.02 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Bank of America raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and increased their price objective for the company from $30.00 to $32.90 in a report on Thursday, November 14th. Barclays raised shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 19th. JPMorgan Chase & Co. lowered ArcelorMittal from an “overweight” rating to a “neutral” rating in a research note on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft raised ArcelorMittal from a “hold” rating to a “buy” rating and lifted their price target for the stock from $29.00 to $31.00 in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to 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.