GAMMA Investing LLC Has $77,000 Stock Holdings in ArcelorMittal $MT

GAMMA Investing LLC raised its holdings in ArcelorMittal (NYSE:MT) by 26.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,426 shares of the basic materials company’s stock after buying an additional 506 shares during the quarter. GAMMA Investing LLC’s holdings in ArcelorMittal were worth $77,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of ArcelorMittal by 22.0% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,872,477 shares of the basic materials company’s stock valued at $54,021,000 after acquiring an additional 337,158 shares during the period. OLD Mission Capital LLC raised its holdings in ArcelorMittal by 20.1% during the 1st quarter. OLD Mission Capital LLC now owns 814,793 shares of the basic materials company’s stock worth $23,507,000 after buying an additional 136,443 shares during the period. ABC Arbitrage SA lifted its position in ArcelorMittal by 31.0% in the 1st quarter. ABC Arbitrage SA now owns 560,329 shares of the basic materials company’s stock valued at $16,165,000 after acquiring an additional 132,535 shares in the last quarter. Telemark Asset Management LLC bought a new stake in shares of ArcelorMittal in the first quarter valued at about $11,540,000. Finally, American Century Companies Inc. lifted its stake in ArcelorMittal by 0.5% in the 1st quarter. American Century Companies Inc. now owns 282,224 shares of the basic materials company’s stock valued at $8,142,000 after acquiring an additional 1,386 shares in the last quarter. 9.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MT has been the topic of several recent analyst reports. Wall Street Zen lowered shares of ArcelorMittal from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Wells Fargo & Company upgraded shares of ArcelorMittal to a “hold” rating in a report on Thursday, August 14th. Finally, Barclays lowered shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 16th. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $33.45.

ArcelorMittal Price Performance

Shares of NYSE:MT opened at $38.14 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.40 and a quick ratio of 0.59. The company has a market capitalization of $31.24 billion, a PE ratio of 11.77, a PEG ratio of 0.17 and a beta of 1.69. ArcelorMittal has a 1-year low of $21.59 and a 1-year high of $38.60. The business has a fifty day moving average price of $34.01 and a 200-day moving average price of $31.59.

ArcelorMittal (NYSE:MT) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.32 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.01). The business had revenue of $15.93 billion during the quarter, compared to the consensus estimate of $15.48 billion. ArcelorMittal had a return on equity of 4.99% and a net margin of 4.11%.ArcelorMittal’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. As a group, equities analysts expect that ArcelorMittal will post 3.72 EPS 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.