Evergreen Capital Management LLC trimmed its holdings in ArcelorMittal S.A. (NYSE:MT – Free Report) by 17.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,595 shares of the basic materials company’s stock after selling 2,467 shares during the quarter. Evergreen Capital Management LLC’s holdings in ArcelorMittal were worth $266,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MT. Blue Trust Inc. raised its holdings in ArcelorMittal by 1,820.0% during the 2nd quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 1,911 shares during the last quarter. Mather Group LLC. raised its holdings in ArcelorMittal by 1,388.6% during the 2nd quarter. Mather Group LLC. now owns 2,218 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 2,069 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in ArcelorMittal by 298.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock worth $54,000 after purchasing an additional 1,771 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of ArcelorMittal in the 1st quarter valued at about $71,000. Finally, CWM LLC increased its stake in shares of ArcelorMittal by 378.2% in the 2nd quarter. CWM LLC now owns 4,930 shares of the basic materials company’s stock valued at $113,000 after acquiring an additional 3,899 shares during the last quarter. 9.88% of the stock is owned by institutional investors.
ArcelorMittal Price Performance
Shares of MT opened at $25.96 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.66 and a current ratio of 1.53. The stock has a 50 day simple moving average of $22.75 and a 200 day simple moving average of $24.48. ArcelorMittal S.A. has a 52-week low of $20.52 and a 52-week high of $29.01. The firm has a market capitalization of $20.91 billion, a PE ratio of 29.17, a P/E/G ratio of 0.44 and a beta of 1.76.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on MT shares. Barclays raised ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft raised ArcelorMittal from a “hold” rating to a “buy” rating and upped their price target for the company from $29.00 to $31.00 in a research note on Wednesday, August 28th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $30.30.
Check Out Our Latest Report on MT
ArcelorMittal Profile
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.
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