Creative Planning Has $2.34 Million Holdings in ArcelorMittal $MT

Creative Planning grew its holdings in shares of ArcelorMittal (NYSE:MT) by 13.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 73,957 shares of the basic materials company’s stock after buying an additional 8,768 shares during the period. Creative Planning’s holdings in ArcelorMittal were worth $2,336,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in ArcelorMittal by 12.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 76,010 shares of the basic materials company’s stock worth $2,193,000 after acquiring an additional 8,448 shares in the last quarter. Summit Securities Group LLC bought a new stake in ArcelorMittal in the first quarter valued at $3,778,000. FORA Capital LLC acquired a new position in shares of ArcelorMittal during the first quarter valued at about $440,000. Russell Investments Group Ltd. boosted its position in shares of ArcelorMittal by 232.6% during the 1st quarter. Russell Investments Group Ltd. now owns 33,858 shares of the basic materials company’s stock worth $977,000 after purchasing an additional 23,678 shares in the last quarter. Finally, Caption Management LLC acquired a new stake in shares of ArcelorMittal in the 1st quarter valued at about $288,000. Institutional investors own 9.29% of the company’s stock.

Analysts Set New Price Targets

MT has been the topic of a number of research reports. Wells Fargo & Company reaffirmed a “cautious” rating and set a $39.00 price target (up from $33.00) on shares of ArcelorMittal in a research note on Thursday, October 23rd. JPMorgan Chase & Co. raised ArcelorMittal from a “neutral” rating to an “overweight” rating in a research report on Friday, November 7th. Citigroup reiterated a “buy” rating on shares of ArcelorMittal in a report on Wednesday, October 8th. The Goldman Sachs Group reissued a “neutral” rating on shares of ArcelorMittal in a research report on Friday, October 10th. Finally, Wall Street Zen downgraded shares of ArcelorMittal from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, ArcelorMittal has an average rating of “Hold” and an average target price of $35.63.

ArcelorMittal Stock Up 2.1%

Shares of NYSE:MT opened at $40.63 on Tuesday. The business’s 50 day moving average is $38.22 and its 200 day moving average is $34.35. ArcelorMittal has a 12-month low of $21.59 and a 12-month high of $41.28. The stock has a market cap of $33.28 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 0.17 and a beta of 1.72. The company has a quick ratio of 0.59, a current ratio of 1.40 and a debt-to-equity ratio of 0.19.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, November 6th. The basic materials company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $15.66 billion during the quarter, compared to analyst estimates of $15.88 billion. ArcelorMittal had a return on equity of 4.99% and a net margin of 4.11%.ArcelorMittal’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS. On average, sell-side analysts forecast that ArcelorMittal will post 3.72 earnings per share for the current fiscal 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.