ArcelorMittal $MT Shares Bought by AlphaCore Capital LLC

AlphaCore Capital LLC grew its holdings in ArcelorMittal (NYSE:MT) by 672.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,894 shares of the basic materials company’s stock after purchasing an additional 27,765 shares during the quarter. AlphaCore Capital LLC’s holdings in ArcelorMittal were worth $1,153,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. State of Wyoming purchased a new stake in ArcelorMittal in the 3rd quarter valued at approximately $36,000. Geneos Wealth Management Inc. raised its holdings in shares of ArcelorMittal by 44.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 501 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of ArcelorMittal by 392.1% in the third quarter. Farther Finance Advisors LLC now owns 1,752 shares of the basic materials company’s stock worth $63,000 after acquiring an additional 1,396 shares during the last quarter. CWM LLC lifted its position in shares of ArcelorMittal by 23.3% in the third quarter. CWM LLC now owns 1,826 shares of the basic materials company’s stock valued at $66,000 after acquiring an additional 345 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of ArcelorMittal by 268.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,422 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 1,765 shares during the last quarter. 9.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MT. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of ArcelorMittal in a research note on Friday, February 6th. Morgan Stanley reiterated an “overweight” rating on shares of ArcelorMittal in a report on Tuesday, February 17th. Oddo Bhf raised shares of ArcelorMittal from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 14th. Jefferies Financial Group upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and raised their target price for the stock from $51.10 to $73.20 in a research report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ArcelorMittal in a research note on Wednesday, January 21st. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.98.

ArcelorMittal Trading Down 1.9%

Shares of MT opened at $65.87 on Friday. ArcelorMittal has a twelve month low of $23.19 and a twelve month high of $67.60. The firm has a market capitalization of $51.05 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 0.58 and a beta of 1.52. The company has a current ratio of 1.36, a quick ratio of 0.53 and a debt-to-equity ratio of 0.19. The stock’s fifty day simple moving average is $53.97 and its 200 day simple moving average is $43.61.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, February 5th. The basic materials company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.56 by $0.30. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.56 billion. ArcelorMittal had a return on equity of 5.27% and a net margin of 5.14%.The firm’s revenue was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 earnings per share. On average, equities research analysts forecast that ArcelorMittal will post 3.72 earnings per share for the current year.

ArcelorMittal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Friday, November 13th will be issued a $0.15 dividend. The ex-dividend date is Friday, November 13th. This represents a $0.60 annualized dividend and a yield of 0.9%. ArcelorMittal’s dividend payout ratio (DPR) is presently 12.44%.

About ArcelorMittal

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.