US Bancorp DE Increases Holdings in ArcelorMittal (NYSE:MT)

US Bancorp DE boosted its holdings in shares of ArcelorMittal (NYSE:MT) by 8.5% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 13,524 shares of the basic materials company’s stock after buying an additional 1,057 shares during the period. US Bancorp DE’s holdings in ArcelorMittal were worth $421,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Advisor Partners LLC boosted its stake in ArcelorMittal by 5.0% during the first quarter. Advisor Partners LLC now owns 14,229 shares of the basic materials company’s stock valued at $415,000 after buying an additional 673 shares during the period. Profund Advisors LLC boosted its stake in ArcelorMittal by 3.7% during the first quarter. Profund Advisors LLC now owns 21,114 shares of the basic materials company’s stock valued at $616,000 after buying an additional 745 shares during the period. Personal CFO Solutions LLC boosted its stake in ArcelorMittal by 11.0% during the second quarter. Personal CFO Solutions LLC now owns 9,094 shares of the basic materials company’s stock valued at $282,000 after buying an additional 898 shares during the period. Atlas Capital Advisors LLC boosted its stake in ArcelorMittal by 451.4% during the second quarter. Atlas Capital Advisors LLC now owns 1,213 shares of the basic materials company’s stock valued at $38,000 after buying an additional 993 shares during the period. Finally, Bessemer Group Inc. bought a new stake in ArcelorMittal during the first quarter valued at $30,000. 6.79% of the stock is owned by institutional investors.

Several equities research analysts recently issued reports on MT shares. Morgan Stanley reissued an “overweight” rating on shares of ArcelorMittal in a research note on Tuesday, August 3rd. Barclays reissued an “overweight” rating on shares of ArcelorMittal in a research note on Tuesday. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of ArcelorMittal in a research note on Friday, July 30th. KeyCorp lifted their price target on ArcelorMittal from $37.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on ArcelorMittal from $43.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, July 30th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $31.38.

NYSE MT opened at $32.30 on Wednesday. ArcelorMittal has a 1-year low of $11.84 and a 1-year high of $36.58. The company has a current ratio of 1.28, a quick ratio of 0.57 and a debt-to-equity ratio of 0.14. The stock has a 50-day moving average of $33.28 and a 200-day moving average of $31.03. The firm has a market cap of $32.69 billion, a PE ratio of 5.23, a price-to-earnings-growth ratio of 1.70 and a beta of 1.99.

ArcelorMittal (NYSE:MT) last released its earnings results on Thursday, July 29th. The basic materials company reported $3.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.70 by $0.76. ArcelorMittal had a return on equity of 15.22% and a net margin of 11.49%. The company had revenue of $19.34 billion during the quarter, compared to analyst estimates of $19.67 billion. As a group, equities research analysts forecast that ArcelorMittal will post 12.56 earnings per share for the current fiscal year.

ArcelorMittal Company Profile

ArcelorMittal SA is a holding company, which engages in steelmaking and mining activities. It operates through the following business segments: NAFTA, Brazil, Europe, Africa and Commonwealth of Independent States (ACIS), Mining, and Others. The NAFTA segment consists of flat products such as slabs, hot-rolled coil, cold-rolled coil, coated steel, and plate.

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Institutional Ownership by Quarter for ArcelorMittal (NYSE:MT)

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