Bayforest Capital Ltd Increases Stock Position in ArcelorMittal $MT

Bayforest Capital Ltd increased its holdings in shares of ArcelorMittal (NYSE:MT) by 34.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,095 shares of the basic materials company’s stock after purchasing an additional 797 shares during the period. Bayforest Capital Ltd’s holdings in ArcelorMittal were worth $98,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of MT. GAMMA Investing LLC boosted its stake in shares of ArcelorMittal by 31.1% during the first quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company’s stock worth $55,000 after buying an additional 456 shares during the period. QRG Capital Management Inc. raised its stake in ArcelorMittal by 10.1% during the 1st quarter. QRG Capital Management Inc. now owns 64,380 shares of the basic materials company’s stock valued at $1,857,000 after acquiring an additional 5,920 shares during the last quarter. CWA Asset Management Group LLC purchased a new position in shares of ArcelorMittal in the 1st quarter valued at approximately $863,000. Hexagon Capital Partners LLC increased its holdings in shares of ArcelorMittal by 25.4% in the first quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 360 shares during the period. Finally, Callan Capital LLC raised its stake in shares of ArcelorMittal by 16.0% during the first quarter. Callan Capital LLC now owns 36,607 shares of the basic materials company’s stock worth $1,056,000 after purchasing an additional 5,052 shares during the last quarter. 9.29% of the stock is currently owned by institutional investors and hedge funds.

ArcelorMittal Stock Performance

Shares of MT opened at $38.48 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.40 and a debt-to-equity ratio of 0.19. ArcelorMittal has a 52-week low of $21.59 and a 52-week high of $41.28. The company has a 50-day simple moving average of $35.45 and a 200-day simple moving average of $32.19. The company has a market capitalization of $31.53 billion, a PE ratio of 11.88, a P/E/G ratio of 0.17 and a beta of 1.69.

ArcelorMittal (NYSE:MT) last issued 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). ArcelorMittal had a return on equity of 4.99% and a net margin of 4.11%.The company had revenue of $15.93 billion for the quarter, compared to analyst estimates of $15.48 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s quarterly revenue was down 2.0% compared to the same quarter last year. Equities research analysts predict that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MT shares. Weiss Ratings reiterated a “hold (c)” rating on shares of ArcelorMittal in a research report on Wednesday, October 8th. Barclays downgraded shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 16th. Citigroup reissued a “buy” rating on shares of ArcelorMittal in a report on Wednesday, October 8th. Wells Fargo & Company raised ArcelorMittal to a “hold” rating in a report on Thursday, August 14th. Finally, The Goldman Sachs Group reissued a “neutral” rating on shares of ArcelorMittal in a research note on Friday, October 10th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, ArcelorMittal has an average rating of “Hold” and a consensus target price of $33.45.

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.