Nomura Holdings Inc. Takes $1.06 Million Position in ArcelorMittal S.A. (NYSE:MT)

Nomura Holdings Inc. purchased a new position in ArcelorMittal S.A. (NYSE:MT) during the fourth quarter, HoldingsChannel reports. The firm purchased 45,607 shares of the basic materials company’s stock, valued at approximately $1,055,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in shares of ArcelorMittal by 221.3% in 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 purchasing an additional 2,344,020 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of ArcelorMittal by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,029,028 shares of the basic materials company’s stock worth $70,061,000 after purchasing an additional 91,363 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of ArcelorMittal by 146.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,535,319 shares of the basic materials company’s stock worth $35,512,000 after purchasing an additional 912,984 shares during the last quarter. Northern Trust Corp grew its holdings in shares of ArcelorMittal by 31.7% in the fourth quarter. Northern Trust Corp now owns 1,153,924 shares of the basic materials company’s stock worth $26,690,000 after purchasing an additional 277,891 shares during the last quarter. Finally, Causeway Capital Management LLC grew its holdings in shares of ArcelorMittal by 12.8% in the fourth quarter. Causeway Capital Management LLC now owns 1,067,400 shares of the basic materials company’s stock worth $24,689,000 after purchasing an additional 121,155 shares during the last quarter. 9.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MT shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of ArcelorMittal in a report on Monday, April 14th. Jefferies Financial Group cut shares of ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 target price on the stock. in a report on Wednesday, March 26th. Morgan Stanley cut shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Friday, February 14th. Finally, The Goldman Sachs Group upgraded shares of ArcelorMittal from a “neutral” rating to a “buy” rating and increased their target price for the stock from $29.00 to $31.70 in a report on Thursday, April 10th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $32.95.

ArcelorMittal Stock Down 1.0%

Shares of ArcelorMittal stock opened at $30.71 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59. ArcelorMittal S.A. has a 1 year low of $20.52 and a 1 year high of $34.90. The firm’s 50-day moving average is $29.15 and its two-hundred day moving average is $26.80. The stock has a market cap of $25.16 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 0.14 and a beta of 1.62.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.33. ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. The business had revenue of $14.80 billion for the quarter, compared to analysts’ expectations of $15.11 billion. During the same period last year, the business earned $1.16 EPS. The company’s revenue was down 9.1% compared to the same quarter last year. As a group, research analysts expect that ArcelorMittal S.A. will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Cuts Dividend

The company also recently declared a dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th will be issued a $0.2338 dividend. This represents a dividend yield of 1.44%. The ex-dividend date of this dividend is Friday, May 16th. ArcelorMittal’s dividend payout ratio is currently 30.07%.

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.