Wealth Enhancement Advisory Services LLC Raises Stake in ArcelorMittal $MT

Wealth Enhancement Advisory Services LLC grew its stake in shares of ArcelorMittal (NYSE:MT) by 4.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,873 shares of the basic materials company’s stock after buying an additional 860 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in ArcelorMittal were worth $714,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. GAMMA Investing LLC lifted its position in ArcelorMittal by 3,683.6% during the first quarter. GAMMA Investing LLC now owns 55,392 shares of the basic materials company’s stock valued at $15,980,000 after buying an additional 53,928 shares during the period. QRG Capital Management Inc. raised its holdings in shares of ArcelorMittal by 10.1% during the 1st quarter. QRG Capital Management Inc. now owns 64,380 shares of the basic materials company’s stock worth $1,857,000 after acquiring an additional 5,920 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of ArcelorMittal during the 1st quarter valued at approximately $863,000. Hexagon Capital Partners LLC grew its position in ArcelorMittal by 25.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 360 shares during the last quarter. Finally, Callan Capital LLC grew its position in ArcelorMittal by 16.0% in the 1st quarter. Callan Capital LLC now owns 36,607 shares of the basic materials company’s stock valued at $1,056,000 after acquiring an additional 5,052 shares during the last quarter. 9.29% of the stock is currently owned by institutional investors.

ArcelorMittal Stock Performance

Shares of ArcelorMittal stock opened at $38.38 on Friday. ArcelorMittal has a fifty-two week low of $21.59 and a fifty-two week high of $38.83. The company’s 50 day moving average price is $34.10 and its two-hundred day moving average price is $31.63. The firm has a market capitalization of $31.44 billion, a P/E ratio of 11.84, a P/E/G ratio of 0.17 and a beta of 1.69. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.40 and a quick ratio of 0.59.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.01). ArcelorMittal had a net margin of 4.11% and a return on equity of 4.99%. The company had revenue of $15.93 billion during the quarter, compared to the consensus estimate of $15.48 billion. During the same period last year, the firm posted $0.63 earnings per share. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, equities analysts forecast that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MT has been the subject of a number of analyst reports. Wells Fargo & Company upgraded ArcelorMittal to a “hold” rating in a research note on Thursday, August 14th. Weiss Ratings reissued a “hold (c)” rating on shares of ArcelorMittal in a report on Saturday, September 27th. Barclays downgraded ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 16th. Finally, Wall Street Zen raised ArcelorMittal from a “hold” rating to a “buy” rating in a research note on Friday. Three analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, ArcelorMittal currently has a consensus rating of “Hold” and a consensus target price of $33.45.

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.