Oppenheimer Asset Management Inc. Sells 1,841 Shares of ArcelorMittal S.A. (NYSE:MT)

Oppenheimer Asset Management Inc. reduced its holdings in shares of ArcelorMittal S.A. (NYSE:MT) by 3.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,265 shares of the basic materials company’s stock after selling 1,841 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in ArcelorMittal were worth $1,278,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MT. Bank of New York Mellon Corp grew its stake in shares of ArcelorMittal by 221.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company’s stock worth $78,712,000 after buying an additional 2,344,020 shares during the last quarter. ABC Arbitrage SA bought a new stake in ArcelorMittal during the 4th quarter worth $9,895,000. FMR LLC grew its position in ArcelorMittal by 46.7% during the 3rd quarter. FMR LLC now owns 1,317,833 shares of the basic materials company’s stock worth $34,606,000 after acquiring an additional 419,465 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in ArcelorMittal by 90.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,335 shares of the basic materials company’s stock worth $16,343,000 after purchasing an additional 295,682 shares in the last quarter. Finally, Cerity Partners LLC raised its position in ArcelorMittal by 128.0% in the third quarter. Cerity Partners LLC now owns 464,315 shares of the basic materials company’s stock valued at $12,193,000 after purchasing an additional 260,633 shares during the last quarter. 9.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MT has been the topic of a number of research reports. Morgan Stanley lowered shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Friday, February 14th. Bank of America upgraded shares of ArcelorMittal from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $30.00 to $32.90 in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $31.17.

ArcelorMittal Stock Up 6.3 %

Shares of NYSE MT opened at $29.49 on Tuesday. The company’s 50 day moving average price is $25.19 and its 200-day moving average price is $24.61. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35. ArcelorMittal S.A. has a 52-week low of $20.52 and a 52-week high of $30.38. The company has a market capitalization of $24.16 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 0.14 and a beta of 1.74.

ArcelorMittal (NYSE:MT) last released its earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. Equities analysts forecast that ArcelorMittal S.A. will post 3.72 earnings per share 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.