ArcelorMittal S.A. (NYSE:MT) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its position in shares of ArcelorMittal S.A. (NYSE:MT) by 90.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 622,335 shares of the basic materials company’s stock after buying an additional 295,682 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in ArcelorMittal were worth $16,343,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MT. Blue Trust Inc. raised its position in shares of ArcelorMittal by 1,820.0% during the 2nd quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 1,911 shares in the last quarter. Mather Group LLC. raised its holdings in shares of ArcelorMittal by 1,388.6% during the second quarter. Mather Group LLC. now owns 2,218 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 2,069 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of ArcelorMittal by 298.1% during 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. CWM LLC lifted its position in shares of ArcelorMittal by 378.2% in the 2nd quarter. CWM LLC now owns 4,930 shares of the basic materials company’s stock worth $113,000 after buying an additional 3,899 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of ArcelorMittal in the 2nd quarter valued at about $156,000. Institutional investors own 9.88% of the company’s stock.

Wall Street Analyst Weigh In

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

ArcelorMittal Stock Down 1.6 %

Shares of ArcelorMittal stock opened at $25.08 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.46 and a quick ratio of 0.59. ArcelorMittal S.A. has a 1-year low of $20.52 and a 1-year high of $29.01. The business’s fifty day moving average price is $24.66 and its two-hundred day moving average price is $24.01. The company has a market capitalization of $20.20 billion, a P/E ratio of -17.79, a PEG ratio of 0.61 and a beta of 1.77.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, November 7th. The basic materials company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.05. The business had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.11 billion. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The company’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.10 earnings per share. As a group, research analysts forecast that ArcelorMittal S.A. will post 2.99 EPS for the current year.

About ArcelorMittal

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.