Crow Point Partners LLC acquired a new position in shares of ArcelorMittal SA (NYSE:MT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 11,889 shares of the basic materials company’s stock, valued at approximately $389,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in MT. TIAA CREF Investment Management LLC acquired a new stake in ArcelorMittal during the 2nd quarter worth about $13,408,000. Quantitative Investment Management LLC acquired a new stake in ArcelorMittal during the 2nd quarter worth about $6,605,000. ETRADE Capital Management LLC acquired a new stake in shares of ArcelorMittal during the 2nd quarter valued at about $765,000. M&T Bank Corp acquired a new stake in shares of ArcelorMittal during the 2nd quarter valued at about $1,759,000. Finally, Advisor Group Inc. lifted its holdings in shares of ArcelorMittal by 160.6% during the 2nd quarter. Advisor Group Inc. now owns 10,147 shares of the basic materials company’s stock valued at $230,000 after buying an additional 6,253 shares during the last quarter. Hedge funds and other institutional investors own 4.11% of the company’s stock.
Shares of ArcelorMittal SA (NYSE:MT) opened at $35.85 on Thursday. ArcelorMittal SA has a 1-year low of $19.59 and a 1-year high of $35.94. The company has a quick ratio of 0.44, a current ratio of 1.21 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $36,660.00, a P/E ratio of 9.34, a P/E/G ratio of 0.95 and a beta of 2.21.
MT has been the subject of several research reports. UBS Group reiterated a “buy” rating on shares of ArcelorMittal in a report on Thursday, October 26th. Zacks Investment Research upgraded ArcelorMittal from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 25th. Cowen lifted their price target on ArcelorMittal from $27.00 to $32.00 and gave the company a “market perform” rating in a report on Monday, November 13th. TheStreet lowered ArcelorMittal from a “b-” rating to a “c+” rating in a report on Friday, November 10th. Finally, Jefferies Group reiterated a “buy” rating on shares of ArcelorMittal in a report on Monday, September 18th. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. ArcelorMittal presently has an average rating of “Buy” and an average target price of $35.39.
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ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.
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