Deutsche Bank AG Acquires 152,381 Shares of ArcelorMittal (NYSE:MT)

Deutsche Bank AG lifted its holdings in shares of ArcelorMittal (NYSE:MT) by 29,247.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 152,902 shares of the basic materials company’s stock after purchasing an additional 152,381 shares during the quarter. Deutsche Bank AG’s holdings in ArcelorMittal were worth $4,612,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in MT. Maverick Capital Ltd. bought a new position in shares of ArcelorMittal during the second quarter worth approximately $36,000. Advisory Services Network LLC bought a new position in shares of ArcelorMittal during the second quarter worth approximately $47,000. Arkadios Wealth Advisors increased its holdings in shares of ArcelorMittal by 401.8% during the third quarter. Arkadios Wealth Advisors now owns 1,671 shares of the basic materials company’s stock worth $50,000 after purchasing an additional 1,338 shares during the period. BNP Paribas Arbitrage SA bought a new position in shares of ArcelorMittal during the second quarter worth approximately $107,000. Finally, Signaturefd LLC increased its holdings in shares of ArcelorMittal by 86.1% during the third quarter. Signaturefd LLC now owns 4,475 shares of the basic materials company’s stock worth $135,000 after purchasing an additional 2,071 shares during the period. 42.79% of the stock is currently owned by institutional investors.

MT has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of ArcelorMittal from $55.00 to $52.00 in a research note on Monday, January 10th. Credit Suisse Group raised shares of ArcelorMittal from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $34.00 to $42.00 in a research note on Thursday, October 14th. Bank of America decreased their price objective on shares of ArcelorMittal from €47.00 ($53.41) to €45.00 ($51.14) and set a “buy” rating on the stock in a research note on Friday, November 26th. They noted that the move was a valuation call. JPMorgan Chase & Co. reissued an “overweight” rating on shares of ArcelorMittal in a research note on Friday, November 12th. Finally, UBS Group restated a “buy” rating on shares of ArcelorMittal in a research report on Thursday, November 4th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $40.65.

Shares of NYSE:MT opened at $37.22 on Friday. The firm has a market cap of $36.58 billion, a PE ratio of 3.53, a price-to-earnings-growth ratio of 2.40 and a beta of 2.09. The firm’s fifty day moving average is $31.25 and its 200-day moving average is $31.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.61 and a current ratio of 1.42. ArcelorMittal has a 52 week low of $20.50 and a 52 week high of $37.87.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Wednesday, November 10th. The basic materials company reported $4.16 EPS for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.01). The business had revenue of $20.23 billion for the quarter, compared to analyst estimates of $22.44 billion. ArcelorMittal had a return on equity of 25.32% and a net margin of 17.32%. During the same quarter last year, the firm posted ($0.15) EPS. Sell-side analysts forecast that ArcelorMittal will post 13.07 EPS for the current year.

ArcelorMittal 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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