Quantitative Investment Management LLC Takes Position in ArcelorMittal S.A. (NYSE:MT)

Quantitative Investment Management LLC bought a new stake in shares of ArcelorMittal S.A. (NYSE:MTGet Rating) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,062 shares of the basic materials company’s stock, valued at approximately $290,000.

A number of other large investors have also recently modified their holdings of the company. Atria Wealth Solutions Inc. purchased a new stake in shares of ArcelorMittal in the first quarter valued at approximately $241,000. Renaissance Technologies LLC purchased a new stake in shares of ArcelorMittal in the first quarter valued at approximately $54,502,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of ArcelorMittal by 1,300.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,349,935 shares of the basic materials company’s stock valued at $171,251,000 after purchasing an additional 4,967,981 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of ArcelorMittal by 21.8% in the first quarter. Clearbridge Investments LLC now owns 3,126,342 shares of the basic materials company’s stock valued at $100,074,000 after purchasing an additional 558,849 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in shares of ArcelorMittal in the first quarter valued at approximately $212,000. Hedge funds and other institutional investors own 10.00% of the company’s stock.

ArcelorMittal Stock Performance

Shares of MT opened at $23.38 on Monday. ArcelorMittal S.A. has a 12 month low of $20.86 and a 12 month high of $37.87. The stock has a fifty day moving average price of $23.40 and a 200-day moving average price of $27.65. The company has a current ratio of 1.58, a quick ratio of 0.68 and a debt-to-equity ratio of 0.11. The firm has a market cap of $21.93 billion, a PE ratio of 1.41 and a beta of 1.93.

ArcelorMittal (NYSE:MTGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The basic materials company reported $4.24 EPS for the quarter, beating the consensus estimate of $4.19 by $0.05. ArcelorMittal had a return on equity of 31.17% and a net margin of 19.66%. The firm had revenue of $22.14 billion during the quarter, compared to analyst estimates of $21.75 billion. During the same quarter in the prior year, the business posted $3.46 EPS. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities research analysts predict that ArcelorMittal S.A. will post 12.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley upped their target price on ArcelorMittal from €46.00 ($46.94) to €46.10 ($47.04) and gave the stock an “overweight” rating in a report on Thursday, June 23rd. UBS Group lowered their target price on ArcelorMittal from €38.00 ($38.78) to €27.00 ($27.55) in a report on Tuesday, July 26th. JPMorgan Chase & Co. upped their target price on ArcelorMittal from €30.50 ($31.12) to €31.00 ($31.63) in a report on Monday, August 1st. Deutsche Bank Aktiengesellschaft lowered their target price on ArcelorMittal from €38.00 ($38.78) to €37.00 ($37.76) in a report on Monday, August 1st. Finally, StockNews.com lowered ArcelorMittal from a “strong-buy” rating to a “buy” rating in a report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.35.

ArcelorMittal Profile

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ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in Europe, North and South America, Asia, and Africa. Its principal steel products include 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, which includes blooms and billets; finished long products, including bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.

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Institutional Ownership by Quarter for ArcelorMittal (NYSE:MT)

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