Dimensional Fund Advisors LP Has $168.01 Million Stake in ArcelorMittal $MT

Dimensional Fund Advisors LP raised its holdings in shares of ArcelorMittal (NYSE:MT) by 0.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 3,232,495 shares of the basic materials company’s stock after acquiring an additional 11,503 shares during the period. Dimensional Fund Advisors LP owned approximately 0.42% of ArcelorMittal worth $168,008,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Assetmark Inc. grew its holdings in ArcelorMittal by 57.4% during the first quarter. Assetmark Inc. now owns 5,033 shares of the basic materials company’s stock valued at $262,000 after purchasing an additional 1,836 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in ArcelorMittal in the first quarter worth $207,000. ABC Arbitrage SA acquired a new stake in ArcelorMittal in the first quarter worth $3,819,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of ArcelorMittal by 11.3% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,769 shares of the basic materials company’s stock worth $300,000 after purchasing an additional 587 shares in the last quarter. Finally, Darwin Wealth Management LLC boosted its position in shares of ArcelorMittal by 9.7% during the first quarter. Darwin Wealth Management LLC now owns 27,093 shares of the basic materials company’s stock worth $1,408,000 after purchasing an additional 2,387 shares in the last quarter. 9.29% of the stock is currently owned by institutional investors.

ArcelorMittal Trading Up 1.3%

Shares of NYSE:MT opened at $66.95 on Friday. ArcelorMittal has a 12-month low of $30.17 and a 12-month high of $72.50. The business has a 50 day moving average of $65.52 and a 200-day moving average of $59.91. The company has a quick ratio of 0.54, a current ratio of 1.39 and a debt-to-equity ratio of 0.19. The stock has a market cap of $51.89 billion, a PE ratio of 17.57, a P/E/G ratio of 0.51 and a beta of 1.55.

ArcelorMittal (NYSE:MT) last announced its earnings results on Thursday, April 30th. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. ArcelorMittal had a net margin of 4.71% and a return on equity of 4.77%. The company had revenue of $15.46 billion during the quarter, compared to analysts’ expectations of $17.04 billion. During the same quarter in the previous year, the business posted $1.05 earnings per share. ArcelorMittal’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, equities research analysts forecast that ArcelorMittal will post 4.89 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on MT shares. Weiss Ratings upgraded ArcelorMittal from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Santander downgraded shares of ArcelorMittal from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 21st. Wells Fargo & Company boosted their price objective on shares of ArcelorMittal from $61.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $70.00 target price on shares of ArcelorMittal in a report on Tuesday, July 7th. Finally, Citigroup reaffirmed a “buy” rating on shares of ArcelorMittal in a research report on Wednesday, May 20th. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, ArcelorMittal has a consensus rating of “Moderate Buy” and an average price target of $68.40.

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.