Caprock Group LLC Takes $305,000 Position in ArcelorMittal $MT

Caprock Group LLC purchased a new position in ArcelorMittal (NYSE:MT) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,143 shares of the basic materials company’s stock, valued at approximately $305,000.

A number of other large investors have also added to or reduced their stakes in the stock. Arrow Capital Pty Ltd bought a new position in shares of ArcelorMittal during the second quarter valued at $5,206,000. Balyasny Asset Management L.P. bought a new stake in ArcelorMittal during the 2nd quarter valued at about $3,855,000. Covalis Capital LLP purchased a new position in ArcelorMittal in the second quarter worth about $3,644,000. American Century Companies Inc. lifted its stake in shares of ArcelorMittal by 39.1% in the second quarter. American Century Companies Inc. now owns 392,644 shares of the basic materials company’s stock worth $12,400,000 after buying an additional 110,420 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of ArcelorMittal during the second quarter valued at approximately $1,396,000. Hedge funds and other institutional investors own 9.29% of the company’s stock.

ArcelorMittal Price Performance

NYSE MT opened at $65.12 on Thursday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.53 and a current ratio of 1.36. The business’s fifty day moving average is $51.56 and its 200 day moving average is $42.26. The company has a market capitalization of $50.47 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 0.56 and a beta of 1.52. ArcelorMittal has a fifty-two week low of $23.19 and a fifty-two week high of $66.97.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, February 5th. The basic materials company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.30. The firm had revenue of $14.97 billion for the quarter, compared to analysts’ expectations of $15.56 billion. ArcelorMittal had a return on equity of 5.27% and a net margin of 5.14%.The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.52 EPS. Sell-side analysts predict that ArcelorMittal will post 3.72 earnings per share for the current year.

ArcelorMittal Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Friday, November 13th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Friday, November 13th. ArcelorMittal’s dividend payout ratio (DPR) is presently 11.46%.

Analyst Ratings Changes

Several research firms recently issued reports on MT. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ArcelorMittal in a research report on Wednesday, January 21st. JPMorgan Chase & Co. upgraded ArcelorMittal from a “neutral” rating to an “overweight” rating in a research note on Friday, November 7th. Morgan Stanley reaffirmed an “overweight” rating on shares of ArcelorMittal in a report on Tuesday. Citigroup reiterated a “buy” rating on shares of ArcelorMittal in a report on Friday, February 13th. Finally, Oddo Bhf raised ArcelorMittal from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 14th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.98.

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.