Highland Capital Management LLC Raises Stake in ArcelorMittal S.A. (NYSE:MT)

Highland Capital Management LLC lifted its position in ArcelorMittal S.A. (NYSE:MT) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,786 shares of the basic materials company’s stock after purchasing an additional 1,450 shares during the period. Highland Capital Management LLC’s holdings in ArcelorMittal were worth $704,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MT. Tower Research Capital LLC TRC purchased a new stake in ArcelorMittal during the 3rd quarter valued at approximately $28,000. Clear Street Markets LLC purchased a new position in shares of ArcelorMittal in the 4th quarter worth $40,000. Captrust Financial Advisors increased its holdings in shares of ArcelorMittal by 166.1% in the 1st quarter. Captrust Financial Advisors now owns 1,381 shares of the basic materials company’s stock worth $44,000 after buying an additional 862 shares during the last quarter. National Bank of Canada FI raised its position in shares of ArcelorMittal by 71.7% during the 3rd quarter. National Bank of Canada FI now owns 1,915 shares of the basic materials company’s stock valued at $47,000 after buying an additional 800 shares in the last quarter. Finally, Atlas Capital Advisors LLC lifted its holdings in shares of ArcelorMittal by 72.0% in the 1st quarter. Atlas Capital Advisors LLC now owns 2,018 shares of the basic materials company’s stock valued at $61,000 after acquiring an additional 845 shares during the last quarter. 9.88% of the stock is owned by hedge funds and other institutional investors.

ArcelorMittal Stock Performance

Shares of ArcelorMittal stock opened at $27.83 on Thursday. ArcelorMittal S.A. has a 12 month low of $21.30 and a 12 month high of $30.36. The stock’s fifty day moving average price is $26.86 and its 200-day moving average price is $25.65. The firm has a market cap of $22.41 billion, a P/E ratio of 27.83, a P/E/G ratio of 0.34 and a beta of 1.92. The company has a current ratio of 1.53, a quick ratio of 0.67 and a debt-to-equity ratio of 0.15.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, February 8th. The basic materials company reported ($3.57) EPS for the quarter, missing analysts’ consensus estimates of ($2.08) by ($1.49). The business had revenue of $14.55 billion for the quarter, compared to analysts’ expectations of $16.39 billion. ArcelorMittal had a net margin of 1.35% and a return on equity of 8.55%. The company’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same period last year, the business posted $1.37 EPS. On average, equities research analysts expect that ArcelorMittal S.A. will post 4.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MT shares. StockNews.com downgraded ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. upgraded ArcelorMittal from a “neutral” rating to an “overweight” rating in a report on Tuesday, December 12th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, ArcelorMittal has a consensus rating of “Hold”.

ArcelorMittal Profile

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.