Guardian Capital Advisors LP reduced its position in ArcelorMittal (NYSE:MT) by 67.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 41,121 shares of the basic materials company’s stock after selling 87,119 shares during the quarter. Guardian Capital Advisors LP’s holdings in ArcelorMittal were worth $1,030,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. BB&T Corp boosted its stake in ArcelorMittal by 0.4% during the second quarter. BB&T Corp now owns 35,799 shares of the basic materials company’s stock worth $813,000 after acquiring an additional 137 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in ArcelorMittal by 0.5% during the first quarter. Ameriprise Financial Inc. now owns 53,502 shares of the basic materials company’s stock worth $447,000 after acquiring an additional 285 shares in the last quarter. Alliancebernstein L.P. boosted its stake in ArcelorMittal by 1.2% during the first quarter. Alliancebernstein L.P. now owns 59,901 shares of the basic materials company’s stock worth $500,000 after acquiring an additional 720 shares in the last quarter. Bank of Montreal Can boosted its stake in ArcelorMittal by 7.8% during the first quarter. Bank of Montreal Can now owns 22,020 shares of the basic materials company’s stock worth $184,000 after acquiring an additional 1,599 shares in the last quarter. Finally, US Bancorp DE boosted its stake in ArcelorMittal by 14.2% during the first quarter. US Bancorp DE now owns 15,540 shares of the basic materials company’s stock worth $129,000 after acquiring an additional 1,934 shares in the last quarter. 3.57% of the stock is currently owned by institutional investors.

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Shares of ArcelorMittal (NYSE:MT) traded up 1.10% during mid-day trading on Friday, hitting $25.76. 1,986,055 shares of the stock traded hands. ArcelorMittal has a 1-year low of $17.58 and a 1-year high of $28.11. The company’s 50-day moving average price is $26.50 and its 200 day moving average price is $24.31. The company has a market capitalization of $26.28 billion, a PE ratio of 8.11 and a beta of 2.10.

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

Several brokerages recently issued reports on MT. Zacks Investment Research raised shares of ArcelorMittal from a “hold” rating to a “strong-buy” rating and set a $29.00 target price on the stock in a research note on Tuesday, September 26th. ValuEngine lowered shares of ArcelorMittal from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 26th. Cowen and Company lowered shares of ArcelorMittal from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $32.00 to $27.00 in a research note on Friday, September 22nd. Jefferies Group LLC reissued a “buy” rating on shares of ArcelorMittal in a research note on Monday, September 18th. Finally, Deutsche Bank AG reissued a “buy” rating on shares of ArcelorMittal in a research note on Thursday, August 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. ArcelorMittal currently has a consensus rating of “Buy” and an average target price of $30.77.

ArcelorMittal Profile

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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