13,615 Shares in ArcelorMittal $MT Bought by Vise Technologies Inc.

Vise Technologies Inc. bought a new position in shares of ArcelorMittal (NYSE:MT) in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 13,615 shares of the basic materials company’s stock, valued at approximately $430,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MT. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of ArcelorMittal by 22.0% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,872,477 shares of the basic materials company’s stock valued at $54,021,000 after purchasing an additional 337,158 shares in the last quarter. OLD Mission Capital LLC raised its position in ArcelorMittal by 20.1% in the 1st quarter. OLD Mission Capital LLC now owns 814,793 shares of the basic materials company’s stock valued at $23,507,000 after buying an additional 136,443 shares during the last quarter. ABC Arbitrage SA lifted its stake in ArcelorMittal by 31.0% in the 1st quarter. ABC Arbitrage SA now owns 560,329 shares of the basic materials company’s stock valued at $16,165,000 after acquiring an additional 132,535 shares in the last quarter. Telemark Asset Management LLC acquired a new position in ArcelorMittal during the 1st quarter worth approximately $11,540,000. Finally, American Century Companies Inc. grew its stake in shares of ArcelorMittal by 0.5% during the 1st quarter. American Century Companies Inc. now owns 282,224 shares of the basic materials company’s stock worth $8,142,000 after acquiring an additional 1,386 shares in the last quarter. Institutional investors and hedge funds own 9.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MT shares. JPMorgan Chase & Co. raised shares of ArcelorMittal from a “neutral” rating to an “overweight” rating in a research report on Friday, November 7th. Citigroup reissued a “buy” rating on shares of ArcelorMittal in a research report on Wednesday, October 8th. Wells Fargo & Company restated a “cautious” rating and set a $39.00 price objective (up from $33.00) on shares of ArcelorMittal in a research note on Thursday, October 23rd. Wall Street Zen downgraded ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of ArcelorMittal in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $35.63.

ArcelorMittal Trading Down 1.1%

ArcelorMittal stock opened at $39.46 on Friday. The stock has a 50-day simple moving average of $37.59 and a 200 day simple moving average of $33.91. The stock has a market capitalization of $32.33 billion, a P/E ratio of 12.18, a PEG ratio of 0.17 and a beta of 1.72. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.59 and a current ratio of 1.40. ArcelorMittal has a 52 week low of $21.59 and a 52 week high of $41.28.

ArcelorMittal (NYSE:MT) last released its quarterly earnings data on Thursday, November 6th. The basic materials company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. ArcelorMittal had a return on equity of 4.99% and a net margin of 4.11%.The firm had revenue of $15.66 billion for the quarter, compared to analyst estimates of $15.88 billion. During the same quarter in the prior year, the company earned $0.63 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. Analysts expect that ArcelorMittal will post 3.72 earnings per share 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.