Connor Clark & Lunn Investment Management Ltd. Has $35.51 Million Stake in ArcelorMittal S.A. (NYSE:MT)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of ArcelorMittal S.A. (NYSE:MT) by 146.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,535,319 shares of the basic materials company’s stock after buying an additional 912,984 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.19% of ArcelorMittal worth $35,512,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Bank of New York Mellon Corp grew its position in shares of ArcelorMittal by 221.3% during the 4th 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 buying an additional 2,344,020 shares during the period. FMR LLC grew its position in shares of ArcelorMittal by 46.7% during the 3rd quarter. FMR LLC now owns 1,317,833 shares of the basic materials company’s stock worth $34,606,000 after buying an additional 419,465 shares during the period. Cerity Partners LLC grew its position in shares of ArcelorMittal by 128.0% during the 3rd quarter. Cerity Partners LLC now owns 464,315 shares of the basic materials company’s stock worth $12,193,000 after buying an additional 260,633 shares during the period. ABC Arbitrage SA acquired a new stake in shares of ArcelorMittal during the 4th quarter worth approximately $9,895,000. Finally, JB Capital Partners LP grew its position in shares of ArcelorMittal by 17.1% during the 3rd quarter. JB Capital Partners LP now owns 205,000 shares of the basic materials company’s stock worth $5,383,000 after buying an additional 30,000 shares during the period. Institutional investors and hedge funds own 9.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MT. Bank of America upgraded shares of ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $30.00 to $32.90 in a report on Thursday, November 14th. Morgan Stanley cut shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Friday, February 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, ArcelorMittal presently has an average rating of “Moderate Buy” and a consensus target price of $31.17.

ArcelorMittal Stock Down 4.8 %

Shares of NYSE MT opened at $30.53 on Thursday. The stock has a market cap of $25.01 billion, a P/E ratio of 18.50, a P/E/G ratio of 0.14 and a beta of 1.79. The firm has a 50 day moving average price of $26.45 and a 200 day moving average price of $25.05. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35. ArcelorMittal S.A. has a 52-week low of $20.52 and a 52-week high of $34.90.

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

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.