4,865 Shares in ArcelorMittal (NYSE:MT) Acquired by Integrated Investment Consultants LLC
Integrated Investment Consultants LLC purchased a new position in shares of ArcelorMittal (NYSE:MT) during the second quarter, Holdings Channel reports. The institutional investor purchased 4,865 shares of the basic materials company’s stock, valued at approximately $111,000.
Several other hedge funds have also bought and sold shares of the stock. UBS Oconnor LLC increased its stake in ArcelorMittal by 169.8% in the first quarter. UBS Oconnor LLC now owns 915,229 shares of the basic materials company’s stock worth $7,642,000 after buying an additional 576,045 shares during the last quarter. Jacobi Capital Management LLC purchased a new stake in ArcelorMittal during the first quarter worth approximately $127,000. FNY Partners Fund LP increased its stake in ArcelorMittal by 32.8% in the first quarter. FNY Partners Fund LP now owns 33,209 shares of the basic materials company’s stock worth $277,000 after buying an additional 8,209 shares during the last quarter. Credit Suisse AG increased its stake in ArcelorMittal by 2,724.4% in the first quarter. Credit Suisse AG now owns 4,540,212 shares of the basic materials company’s stock worth $37,910,000 after buying an additional 4,379,463 shares during the last quarter. Finally, Barings LLC increased its stake in ArcelorMittal by 203.6% in the first quarter. Barings LLC now owns 244,700 shares of the basic materials company’s stock worth $2,043,000 after buying an additional 164,100 shares during the last quarter. Hedge funds and other institutional investors own 9.58% of the company’s stock.
ArcelorMittal (NYSE MT) opened at 25.03 on Monday. The firm has a market capitalization of $25.52 billion, a price-to-earnings ratio of 8.30 and a beta of 2.06. The company has a 50-day moving average price of $21.60 and a 200 day moving average price of $23.74. ArcelorMittal has a 1-year low of $15.99 and a 1-year high of $28.11.
ArcelorMittal (NYSE:MT) last released its quarterly earnings data on Friday, May 12th. The basic materials company reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.18. The business had revenue of $16.09 billion during the quarter, compared to analyst estimates of $16.81 billion. ArcelorMittal had a return on equity of 10.08% and a net margin of 5.38%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same period last year, the company posted ($0.69) EPS. Equities analysts anticipate that ArcelorMittal will post $2.95 earnings per share for the current year.
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A number of research firms have commented on MT. BidaskClub upgraded ArcelorMittal from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Zacks Investment Research downgraded ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Tuesday, March 21st. Cowen and Company reiterated a “buy” rating and set a $11.00 target price on shares of ArcelorMittal in a research report on Friday, May 19th. ValuEngine upgraded ArcelorMittal from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Finally, Credit Suisse Group set a $45.00 target price on ArcelorMittal and gave the stock a “buy” rating in a research report on Saturday, March 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $26.60.
ArcelorMittal Company Profile
ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.
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