Renaissance Technologies LLC increased its stake in ArcelorMittal SA (NYSE:MT) by 28.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,580,363 shares of the basic materials company’s stock after purchasing an additional 1,693,291 shares during the quarter. Renaissance Technologies LLC owned approximately 0.75% of ArcelorMittal worth $132,960,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of MT. FNY Investment Advisers LLC bought a new position in shares of ArcelorMittal during the fourth quarter worth about $1,052,000. Millennium Management LLC raised its stake in ArcelorMittal by 4,348.4% during the 3rd quarter. Millennium Management LLC now owns 696,487 shares of the basic materials company’s stock worth $9,917,000 after buying an additional 680,830 shares during the period. NEXT Financial Group Inc raised its stake in ArcelorMittal by 90.9% during the 4th quarter. NEXT Financial Group Inc now owns 10,499 shares of the basic materials company’s stock worth $184,000 after buying an additional 5,000 shares during the period. CoreCommodity Management LLC raised its stake in shares of ArcelorMittal by 68.8% in the fourth quarter. CoreCommodity Management LLC now owns 102,908 shares of the basic materials company’s stock worth $1,805,000 after purchasing an additional 41,931 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of ArcelorMittal in the fourth quarter worth approximately $235,000. Hedge funds and other institutional investors own 3.31% of the company’s stock.
NYSE:MT traded down $1.66 during trading hours on Thursday, reaching $8.54. The company had a trading volume of 477,866 shares, compared to its average volume of 4,162,811. The company has a current ratio of 1.34, a quick ratio of 0.53 and a debt-to-equity ratio of 0.28. ArcelorMittal SA has a 52 week low of $10.01 and a 52 week high of $24.19. The firm has a market cap of $8.70 billion, a price-to-earnings ratio of -3.55 and a beta of 2.21. The firm’s 50 day moving average price is $15.47 and its 200-day moving average price is $15.84.
MT has been the subject of several recent analyst reports. ValuEngine raised ArcelorMittal from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. KeyCorp upped their target price on ArcelorMittal from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $21.00.
ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through five segments: NAFTA, Brazil, Europe, ACIS, and Mining. The company produces finished and semi-finished steel products with various specifications.
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