Wetherby Asset Management Inc. raised its holdings in shares of ArcelorMittal SA (NYSE:MT) by 6.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,424 shares of the basic materials company’s stock after purchasing an additional 1,071 shares during the quarter. Wetherby Asset Management Inc.’s holdings in ArcelorMittal were worth $248,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Lindbrook Capital LLC grew its stake in ArcelorMittal by 275.1% during the 3rd quarter. Lindbrook Capital LLC now owns 4,332 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 3,177 shares in the last quarter. Quadrant Capital Group LLC grew its stake in ArcelorMittal by 1,133.1% during the 3rd quarter. Quadrant Capital Group LLC now owns 18,299 shares of the basic materials company’s stock valued at $253,000 after purchasing an additional 16,815 shares in the last quarter. Advisor Partners LLC acquired a new stake in ArcelorMittal during the 3rd quarter valued at approximately $171,000. Signaturefd LLC grew its stake in ArcelorMittal by 32.8% during the 3rd quarter. Signaturefd LLC now owns 8,637 shares of the basic materials company’s stock valued at $123,000 after purchasing an additional 2,134 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in ArcelorMittal during the 3rd quarter valued at approximately $157,000. Hedge funds and other institutional investors own 2.57% of the company’s stock.
A number of brokerages have weighed in on MT. Zacks Investment Research lowered ArcelorMittal from a “hold” rating to a “sell” rating and set a $15.00 price objective for the company. in a research note on Friday, October 11th. ValuEngine lowered ArcelorMittal from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Credit Suisse Group restated a “buy” rating on shares of ArcelorMittal in a research note on Tuesday, September 10th. Deutsche Bank lowered their price objective on ArcelorMittal from $25.00 to $18.00 and set a “buy” rating for the company in a research note on Monday, October 7th. Finally, UBS Group reiterated a “neutral” rating on shares of ArcelorMittal in a research report on Wednesday, October 9th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $21.14.
Shares of MT traded down $0.17 during mid-day trading on Friday, hitting $17.00. The stock had a trading volume of 3,280,762 shares, compared to its average volume of 3,093,834. The company has a market cap of $17.41 billion, a PE ratio of 2.95 and a beta of 2.42. The company’s fifty day simple moving average is $14.71 and its two-hundred day simple moving average is $16.07. The company has a quick ratio of 0.52, a current ratio of 1.41 and a debt-to-equity ratio of 0.24. ArcelorMittal SA has a fifty-two week low of $12.53 and a fifty-two week high of $25.46.
ArcelorMittal (NYSE:MT) last issued its earnings results on Thursday, November 7th. The basic materials company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.24). The firm had revenue of $16.63 billion during the quarter, compared to analyst estimates of $16.70 billion. ArcelorMittal had a return on equity of 8.39% and a net margin of 2.73%. ArcelorMittal’s revenue was down 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 EPS. Equities analysts expect that ArcelorMittal SA will post 0.13 earnings per share for the current year.
ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through five segments: NAFTA, Brazil, Europe, ACIS, and Mining. The company produces finished and semi-finished steel products with various specifications.
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