Causeway Capital Management LLC Raises Stake in ArcelorMittal S.A. (NYSE:MT)

Causeway Capital Management LLC increased its holdings in shares of ArcelorMittal S.A. (NYSE:MT) by 12.8% during the 4th quarter, HoldingsChannel reports. The fund owned 1,067,400 shares of the basic materials company’s stock after buying an additional 121,155 shares during the period. Causeway Capital Management LLC’s holdings in ArcelorMittal were worth $24,689,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in MT. Geneos Wealth Management Inc. increased its holdings in shares of ArcelorMittal by 89.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 536 shares in the last quarter. GAMMA Investing LLC increased its stake in ArcelorMittal by 68.5% during the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 595 shares in the last quarter. US Bancorp DE increased its stake in ArcelorMittal by 5.0% during the 4th quarter. US Bancorp DE now owns 15,085 shares of the basic materials company’s stock valued at $349,000 after purchasing an additional 717 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in shares of ArcelorMittal by 9.1% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,545 shares of the basic materials company’s stock worth $221,000 after buying an additional 797 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of ArcelorMittal by 13.9% during the fourth quarter. Quadrant Capital Group LLC now owns 10,146 shares of the basic materials company’s stock valued at $235,000 after buying an additional 1,242 shares during the last quarter. Institutional investors own 9.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MT shares. Jefferies Financial Group lowered shares of ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 price objective for the company. in a report on Wednesday, March 26th. The Goldman Sachs Group raised ArcelorMittal from a “neutral” rating to a “buy” rating and increased their price objective for the company from $29.00 to $31.70 in a research report on Thursday. Finally, Morgan Stanley downgraded ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, ArcelorMittal currently has a consensus rating of “Moderate Buy” and an average price target of $32.95.

ArcelorMittal Stock Performance

MT stock opened at $26.82 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 company has a market cap of $21.97 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 0.14 and a beta of 1.60. The stock’s fifty day moving average price is $29.07 and its 200-day moving average price is $25.99.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. On average, equities analysts forecast that ArcelorMittal S.A. will post 3.72 earnings per share for the current year.

ArcelorMittal Dividend Announcement

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Thursday, November 13th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a yield of 1.5%. ArcelorMittal’s dividend payout ratio is currently 27.88%.

ArcelorMittal Company 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.