TD Waterhouse Canada Inc. Grows Stock Holdings in ArcelorMittal $MT

TD Waterhouse Canada Inc. grew its holdings in ArcelorMittal (NYSE:MT) by 822.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 16,491 shares of the basic materials company’s stock after purchasing an additional 14,703 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in ArcelorMittal were worth $978,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in ArcelorMittal by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,232,495 shares of the basic materials company’s stock worth $168,008,000 after purchasing an additional 11,503 shares in the last quarter. Maple Rock Capital Partners Inc. boosted its stake in shares of ArcelorMittal by 54.9% in the 2nd quarter. Maple Rock Capital Partners Inc. now owns 2,190,860 shares of the basic materials company’s stock valued at $131,934,000 after buying an additional 776,595 shares during the period. UBS Group AG grew its position in shares of ArcelorMittal by 405.2% during the third quarter. UBS Group AG now owns 1,181,358 shares of the basic materials company’s stock worth $42,706,000 after buying an additional 947,532 shares in the last quarter. Bank of America Corp DE grew its position in shares of ArcelorMittal by 15.6% during the third quarter. Bank of America Corp DE now owns 947,909 shares of the basic materials company’s stock worth $34,267,000 after buying an additional 128,045 shares in the last quarter. Finally, Senator Investment Group LP purchased a new stake in shares of ArcelorMittal during the fourth quarter worth approximately $26,431,000. 9.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Citigroup restated a “buy” rating on shares of ArcelorMittal in a research note on Tuesday, August 4th. Weiss Ratings lowered ArcelorMittal from a “buy (b-)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Jefferies Financial Group restated a “buy” rating on shares of ArcelorMittal in a research note on Monday, July 6th. JPMorgan Chase & Co. upgraded shares of ArcelorMittal from an “underweight” rating to a “neutral” rating in a research note on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of ArcelorMittal in a research report on Friday, September 4th. Five equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, ArcelorMittal has an average rating of “Hold” and a consensus price target of $74.80.

ArcelorMittal Trading Down 0.1%

NYSE:MT opened at $77.05 on Thursday. The stock has a fifty day moving average price of $70.65 and a two-hundred day moving average price of $64.23. The stock has a market capitalization of $59.72 billion, a price-to-earnings ratio of 32.65, a PEG ratio of 0.54 and a beta of 1.55. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.57 and a current ratio of 1.43. ArcelorMittal has a 1 year low of $34.15 and a 1 year high of $79.68.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.28). The firm had revenue of $16.76 billion for the quarter, compared to analysts’ expectations of $17.56 billion. ArcelorMittal had a return on equity of 4.20% and a net margin of 2.88%.ArcelorMittal’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $1.32 EPS. As a group, sell-side analysts anticipate that ArcelorMittal will post 4.48 earnings per share for the current fiscal year.

About ArcelorMittal

ArcelorMittal SA is a global steel and mining company with operations spanning the Americas, Europe and Africa. The company produces and sells steel products for industries including automotive, construction, infrastructure, energy, packaging and general manufacturing.

Its portfolio includes flat steel, long steel, tubular products and tailored solutions designed for specific industrial applications. ArcelorMittal also operates iron ore mining and processing activities, which supply raw materials for its steelmaking operations and support its vertically integrated business model.

ArcelorMittal was formed in 2006 through the merger of Arcelor and Mittal Steel.