ArcelorMittal SA (MT) Stake Lessened by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. lessened its stake in shares of ArcelorMittal SA (NYSE:MT) by 33.8% in the 3rd quarter, HoldingsChannel reports. The fund 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 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MT. Campbell & CO Investment Adviser LLC acquired a new position in shares of ArcelorMittal during the 2nd quarter worth about $305,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of ArcelorMittal during the 2nd quarter worth about $2,730,000. Renaissance Technologies LLC lifted its position in shares of ArcelorMittal by 92.2% during the 2nd quarter. Renaissance Technologies LLC now owns 820,401 shares of the basic materials company’s stock worth $23,815,000 after purchasing an additional 393,607 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of ArcelorMittal during the 2nd quarter worth about $553,000. Finally, Stevens Capital Management LP acquired a new position in shares of ArcelorMittal during the 2nd quarter worth about $1,296,000. Institutional investors own 3.35% of the company’s stock.
MT has been the subject of several research analyst reports. Deutsche Bank reissued a “buy” rating on shares of ArcelorMittal in a research report on Tuesday. Credit Suisse Group reissued a “buy” rating on shares of ArcelorMittal in a research report on Thursday, August 2nd. Jefferies Financial Group reissued a “buy” rating on shares of ArcelorMittal in a research report on Monday, September 17th. Zacks Investment Research raised ArcelorMittal from a “hold” rating to a “buy” rating and set a $31.00 price objective for the company in a research report on Friday, October 12th. Finally, ValuEngine raised ArcelorMittal from a “sell” rating to a “hold” rating in a research report on Thursday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $37.00.
ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, November 1st. The basic materials company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.38 by ($0.11). The firm had revenue of $18.52 billion during the quarter, compared to analyst estimates of $19.33 billion. ArcelorMittal had a net margin of 6.62% and a return on equity of 12.59%. The company’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the company earned $1.18 EPS. As a group, analysts expect that ArcelorMittal SA will post 5.18 earnings per share for the current fiscal year.
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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