Oppenheimer & Co. Inc. Invests $998,000 in ArcelorMittal (MT)

Oppenheimer & Co. Inc. purchased a new stake in shares of ArcelorMittal (NYSE:MT) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 43,913 shares of the basic materials company’s stock, valued at approximately $998,000.

Several other institutional investors also recently made changes to their positions in MT. Integrated Investment Consultants LLC bought a new stake in shares of ArcelorMittal during the 2nd quarter valued at approximately $111,000. Jacobi Capital Management LLC bought a new stake in shares of ArcelorMittal during the 1st quarter valued at approximately $127,000. US Bancorp DE grew its holdings in shares of ArcelorMittal by 14.2% during the 1st quarter. US Bancorp DE now owns 15,540 shares of the basic materials company’s stock valued at $129,000 after purchasing an additional 1,934 shares during the last quarter. MAVEN SECURITIES Ltd bought a new stake in shares of ArcelorMittal during the 1st quarter valued at approximately $139,000. Finally, Bank of Montreal Can grew its holdings in shares of ArcelorMittal by 7.8% during the 1st quarter. Bank of Montreal Can now owns 22,020 shares of the basic materials company’s stock valued at $184,000 after purchasing an additional 1,599 shares during the last quarter. 3.57% of the stock is currently owned by institutional investors.

ArcelorMittal (NYSE MT) opened at 26.84 on Friday. ArcelorMittal has a 12 month low of $16.14 and a 12 month high of $28.11. The firm has a market cap of $27.38 billion, a P/E ratio of 8.45 and a beta of 2.10. The stock has a 50 day moving average of $26.24 and a 200-day moving average of $24.33.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.55. ArcelorMittal had a return on equity of 10.52% and a net margin of 5.50%. The company had revenue of $17.24 billion during the quarter, compared to analyst estimates of $16.88 billion. During the same quarter last year, the firm posted $0.38 earnings per share. The firm’s revenue was up 17.0% on a year-over-year basis. Equities research analysts predict that ArcelorMittal will post $3.12 earnings per share for the current fiscal year.

Several brokerages recently issued reports on MT. Cowen and Company set a $32.00 price target on shares of ArcelorMittal and gave the company a “buy” rating in a report on Wednesday, August 23rd. Deutsche Bank AG reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Thursday, August 17th. Zacks Investment Research lowered shares of ArcelorMittal from a “strong-buy” rating to a “hold” rating in a report on Monday, August 7th. SBG Securities lowered shares of ArcelorMittal from a “buy” rating to a “hold” rating in a report on Sunday, July 30th. Finally, BidaskClub lowered shares of ArcelorMittal from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. ArcelorMittal currently has a consensus rating of “Buy” and a consensus price target of $29.72.

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About ArcelorMittal

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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Institutional Ownership by Quarter for ArcelorMittal (NYSE:MT)

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