MMCAP International Inc. SPC acquired a new stake in shares of ArcelorMittal (NYSE:MT – Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 91,427 shares of the basic materials company’s stock, valued at approximately $4,166,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of ArcelorMittal by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,171,378 shares of the basic materials company’s stock valued at $114,647,000 after buying an additional 55,549 shares in the last quarter. UBS Group AG raised its position in shares of ArcelorMittal by 405.2% during the 3rd quarter. UBS Group AG now owns 1,181,358 shares of the basic materials company’s stock valued at $42,706,000 after buying an additional 947,532 shares in the last quarter. Maple Rock Capital Partners Inc. purchased a new stake in shares of ArcelorMittal during the 3rd quarter valued at $41,399,000. Bank of America Corp DE raised its position in shares of ArcelorMittal by 15.6% during the 3rd quarter. Bank of America Corp DE now owns 947,909 shares of the basic materials company’s stock valued at $34,267,000 after buying an additional 128,045 shares in the last quarter. Finally, Retirement Systems of Alabama purchased a new stake in shares of ArcelorMittal during the 4th quarter valued at $30,721,000. Hedge funds and other institutional investors own 9.29% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on MT. JPMorgan Chase & Co. cut shares of ArcelorMittal from an “overweight” rating to an “underweight” rating in a research report on Monday, March 9th. Weiss Ratings upgraded shares of ArcelorMittal from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. KeyCorp began coverage on shares of ArcelorMittal in a research report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Jefferies Financial Group upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and raised their price objective for the company from $51.10 to $73.20 in a research report on Wednesday, February 11th. Finally, Wells Fargo & Company raised their price objective on shares of ArcelorMittal from $60.00 to $61.00 and gave the company an “equal weight” rating in a research report on Friday, May 1st. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $61.07.
ArcelorMittal Price Performance
Shares of NYSE:MT opened at $68.50 on Wednesday. The stock has a market cap of $53.09 billion, a PE ratio of 17.98, a PEG ratio of 0.53 and a beta of 1.48. The company’s fifty day moving average is $58.09 and its 200 day moving average is $53.15. ArcelorMittal has a 52 week low of $29.76 and a 52 week high of $68.61. The company has a quick ratio of 0.54, a current ratio of 1.39 and a debt-to-equity ratio of 0.19.
ArcelorMittal (NYSE:MT – Get Free Report) last issued its earnings results on Thursday, April 30th. The basic materials company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. The company had revenue of $15.46 billion for the quarter, compared to analysts’ expectations of $17.04 billion. ArcelorMittal had a net margin of 4.71% and a return on equity of 4.77%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 EPS. Research analysts anticipate that ArcelorMittal will post 4.69 earnings per share for the current year.
ArcelorMittal Company Profile
ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.
ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.
Featured Stories
- Five stocks we like better than ArcelorMittal
- Banks Are Buying Back Stock Hand Over Fist, Including These 3 Names
- 2 Aluminum Stocks Poised for Big Tariff-Related Gains
- AutoZone’s Pullback Sets Up a Long-Term Buying Opportunity
- AST SpaceMobile’s June Launch Plan Puts Its 2026 Satellite Goal Back in Focus
Want to see what other hedge funds are holding MT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ArcelorMittal (NYSE:MT – Free Report).
Receive News & Ratings for ArcelorMittal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcelorMittal and related companies with MarketBeat.com's FREE daily email newsletter.
