Sivia Capital Partners LLC bought a new stake in ArcelorMittal (NYSE:MT – Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 9,942 shares of the basic materials company’s stock, valued at approximately $453,000.
A number of other institutional investors have also modified their holdings of MT. State of Wyoming acquired a new position in shares of ArcelorMittal in the 3rd quarter valued at $36,000. True Wealth Design LLC increased its holdings in shares of ArcelorMittal by 41.4% in the 4th quarter. True Wealth Design LLC now owns 799 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 234 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of ArcelorMittal by 44.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 501 shares during the period. Allworth Financial LP increased its holdings in shares of ArcelorMittal by 91.5% in the 4th quarter. Allworth Financial LP now owns 1,126 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 538 shares during the period. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of ArcelorMittal by 268.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,422 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 1,765 shares during the period. 9.29% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. Morgan Stanley reiterated an “overweight” rating on shares of ArcelorMittal in a research report on Tuesday, February 17th. Jefferies Financial Group raised shares of ArcelorMittal from a “hold” rating to a “buy” rating and boosted their price objective for the company from $51.10 to $73.20 in a research note on Wednesday, February 11th. Weiss Ratings raised shares of ArcelorMittal from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. cut shares of ArcelorMittal from an “overweight” rating to an “underweight” rating in a research note on Monday, March 9th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of ArcelorMittal in a research note on Friday, February 6th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, ArcelorMittal currently has a consensus rating of “Hold” and an average target price of $61.07.
ArcelorMittal Price Performance
Shares of NYSE MT opened at $67.11 on Friday. The stock has a market cap of $52.01 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 0.58 and a beta of 1.53. ArcelorMittal has a 52 week low of $29.80 and a 52 week high of $72.50. The company’s 50-day moving average price is $61.09 and its 200 day moving average price is $54.76. The company has a current ratio of 1.39, a quick ratio of 0.54 and a debt-to-equity ratio of 0.19.
ArcelorMittal (NYSE:MT – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. The firm 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% on a year-over-year basis. During the same period in the prior year, the company earned $1.05 EPS. As a group, research analysts forecast that ArcelorMittal will post 4.69 earnings per share for the current fiscal year.
ArcelorMittal 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.
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