45,607 Shares in ArcelorMittal S.A. (NYSE:MT) Bought by Nomura Holdings Inc.

Nomura Holdings Inc. bought a new position in shares of ArcelorMittal S.A. (NYSE:MT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 45,607 shares of the basic materials company’s stock, valued at approximately $1,055,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MT. Park Avenue Securities LLC bought a new position in shares of ArcelorMittal during the fourth quarter worth $212,000. Janney Montgomery Scott LLC bought a new position in shares of ArcelorMittal during the fourth quarter worth $233,000. Geneos Wealth Management Inc. boosted its position 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 worth $26,000 after acquiring an additional 536 shares during the last quarter. ABC Arbitrage SA bought a new position in shares of ArcelorMittal during the fourth quarter worth $9,895,000. Finally, Callan Capital LLC boosted its position in shares of ArcelorMittal by 53.8% during the fourth quarter. Callan Capital LLC now owns 31,555 shares of the basic materials company’s stock worth $730,000 after acquiring an additional 11,042 shares during the last quarter. Institutional investors own 9.29% of the company’s stock.

Analysts Set New Price Targets

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

ArcelorMittal Price Performance

ArcelorMittal stock opened at $30.71 on Monday. The company 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. The firm’s fifty day moving average is $29.15 and its 200 day moving average is $26.80. The company has a quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. ArcelorMittal S.A. has a 52-week low of $20.52 and a 52-week high of $34.90.

ArcelorMittal (NYSE:MT) last announced its earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $15.11 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. The business’s revenue for the quarter was down 9.1% on a year-over-year basis. Sell-side analysts forecast that ArcelorMittal S.A. will post 3.72 EPS for the current fiscal year.

ArcelorMittal Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th will be paid 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%.

About ArcelorMittal

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.