Citigroup Inc. Reiterates Buy Rating for ArcelorMittal SA (MT)
Posted by Jared Coughlin on Jun 29th, 2016 // No Comments
ArcelorMittal SA logoArcelorMittal SA (NYSE:MT)‘s stock had its “buy” rating reiterated by equities researchers at Citigroup Inc. in a research note issued on Wednesday.
Several large investors have added to or reduced their stakes in the stock. Morgan Stanley boosted its stake in ArcelorMittal SA by 8.9% in the fourth quarter. Morgan Stanley now owns 8,505,451 shares of the company’s stock worth $35,893,000 after buying an additional 695,850 shares during the period. Van ECK Associates Corp boosted its stake in ArcelorMittal SA by 28.8% in the fourth quarter. Van ECK Associates Corp now owns 563,786 shares of the company’s stock worth $2,379,000 after buying an additional 126,199 shares during the period. Federated Investors Inc. PA acquired a new stake in ArcelorMittal SA during the fourth quarter worth $5,868,000. Steelhead Partners LLC acquired a new stake in ArcelorMittal SA during the fourth quarter worth $1,055,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in ArcelorMittal SA during the fourth quarter worth $2,762,000.
Shares of ArcelorMittal SA (NYSE:MT) traded up 1.78% during mid-day trading on Wednesday, reaching $4.58. The company’s stock had a trading volume of 2,123,658 shares. The firm has a 50-day moving average of $4.90 and a 200-day moving average of $4.47. The firm’s market capitalization is $8.21 billion. ArcelorMittal SA has a 52 week low of $2.93 and a 52 week high of $9.77.