Dynasty Wealth Management LLC Makes New $501,000 Investment in ArcelorMittal $MT

Dynasty Wealth Management LLC acquired a new stake in shares of ArcelorMittal (NYSE:MT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 13,849 shares of the basic materials company’s stock, valued at approximately $501,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MT. Sequoia Financial Advisors LLC raised its stake in shares of ArcelorMittal by 27.5% during the third quarter. Sequoia Financial Advisors LLC now owns 16,715 shares of the basic materials company’s stock valued at $604,000 after acquiring an additional 3,601 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of ArcelorMittal by 15.7% during the 3rd quarter. Evergreen Capital Management LLC now owns 15,567 shares of the basic materials company’s stock valued at $563,000 after purchasing an additional 2,110 shares during the last quarter. Bayforest Capital Ltd increased its holdings in shares of ArcelorMittal by 220.7% during the third quarter. Bayforest Capital Ltd now owns 9,926 shares of the basic materials company’s stock valued at $359,000 after acquiring an additional 6,831 shares in the last quarter. CWA Asset Management Group LLC increased its stake in ArcelorMittal by 6.9% during the 3rd quarter. CWA Asset Management Group LLC now owns 37,479 shares of the basic materials company’s stock valued at $1,355,000 after purchasing an additional 2,429 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake in ArcelorMittal by 282.2% during the 3rd quarter. Global Retirement Partners LLC now owns 2,427 shares of the basic materials company’s stock valued at $88,000 after acquiring an additional 1,792 shares during the period. 9.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on MT. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ArcelorMittal in a report on Wednesday, October 8th. Citigroup reaffirmed a “buy” rating on shares of ArcelorMittal in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised shares of ArcelorMittal from a “neutral” rating to an “overweight” rating in a research note on Friday, November 7th. Morgan Stanley upgraded shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, January 6th. Finally, Wall Street Zen downgraded shares of ArcelorMittal from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, ArcelorMittal presently has an average rating of “Hold” and a consensus price target of $38.98.

ArcelorMittal Stock Up 0.2%

NYSE MT opened at $48.81 on Wednesday. The business has a fifty day moving average price of $44.56 and a 200 day moving average price of $38.59. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.58 and a current ratio of 1.39. The company has a market cap of $37.83 billion, a P/E ratio of 14.53, a P/E/G ratio of 0.18 and a beta of 1.52. ArcelorMittal has a one year low of $23.19 and a one year high of $49.33.

ArcelorMittal (NYSE:MT) last released its earnings results on Thursday, November 6th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $15.66 billion during the quarter, compared to analyst estimates of $15.88 billion. ArcelorMittal had a net margin of 4.23% and a return on equity of 4.94%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Research analysts anticipate that ArcelorMittal will post 3.72 EPS for the current fiscal year.

ArcelorMittal Company 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.