ArcelorMittal $MT Shares Purchased by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. boosted its position in ArcelorMittal (NYSE:MT) by 49.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,556 shares of the basic materials company’s stock after purchasing an additional 5,486 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in ArcelorMittal were worth $478,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC increased its stake in shares of ArcelorMittal by 25.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company’s stock worth $51,000 after acquiring an additional 360 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of ArcelorMittal by 31.1% in the 1st quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company’s stock worth $55,000 after acquiring an additional 456 shares during the last quarter. Bayforest Capital Ltd increased its stake in shares of ArcelorMittal by 23.7% in the 1st quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 440 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of ArcelorMittal by 76.2% during the 4th quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 2,110 shares during the last quarter. Finally, Atlas Capital Advisors Inc. acquired a new stake in shares of ArcelorMittal during the 1st quarter worth about $166,000. 9.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wells Fargo & Company raised ArcelorMittal to a “hold” rating in a research report on Thursday. Wall Street Zen downgraded ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Sunday, July 20th. Finally, Barclays downgraded ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 16th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $32.96.

ArcelorMittal Stock Performance

NYSE MT opened at $33.54 on Monday. The company has a market cap of $27.48 billion, a P/E ratio of 10.35, a P/E/G ratio of 0.15 and a beta of 1.65. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.40 and a quick ratio of 0.59. The stock has a 50-day moving average of $32.24 and a two-hundred day moving average of $30.29. ArcelorMittal has a 1-year low of $21.59 and a 1-year high of $34.90.

ArcelorMittal (NYSE:MT) last released its earnings results on Thursday, July 31st. The basic materials company reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.01). The firm had revenue of $15.93 billion during the quarter, compared to analyst estimates of $15.48 billion. ArcelorMittal had a net margin of 4.11% and a return on equity of 4.99%. The business’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. As a group, analysts anticipate that ArcelorMittal will post 3.72 EPS for the current year.

ArcelorMittal Company 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.