Hantz Financial Services Inc. Has $1.20 Million Stock Position in ArcelorMittal $MT

Hantz Financial Services Inc. grew its position in ArcelorMittal (NYSE:MT) by 50.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,364 shares of the basic materials company’s stock after buying an additional 8,807 shares during the quarter. Hantz Financial Services Inc.’s holdings in ArcelorMittal were worth $1,201,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MT. State of Wyoming acquired a new position in shares of ArcelorMittal in the third quarter worth about $36,000. True Wealth Design LLC boosted its holdings in shares of ArcelorMittal by 41.4% during the fourth quarter. True Wealth Design LLC now owns 799 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 234 shares during the period. Geneos Wealth Management Inc. boosted its holdings in shares of ArcelorMittal by 44.2% during the first quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 501 shares during the period. Allworth Financial LP boosted its holdings in shares of ArcelorMittal by 91.5% during the fourth quarter. Allworth Financial LP now owns 1,126 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 538 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of ArcelorMittal by 268.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,422 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 1,765 shares during the period. 9.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on MT shares. Jefferies Financial Group upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and raised their price target for the stock from $51.10 to $73.20 in a report on Wednesday, February 11th. Citigroup restated a “buy” rating on shares of ArcelorMittal in a report on Wednesday, May 20th. Morgan Stanley restated an “overweight” rating on shares of ArcelorMittal in a report on Tuesday, February 17th. KeyCorp started coverage on shares of ArcelorMittal in a report on Wednesday, March 25th. They set a “sector weight” rating for the company. Finally, Weiss Ratings upgraded shares of ArcelorMittal from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.07.

ArcelorMittal Price Performance

NYSE MT opened at $68.50 on Thursday. The company has a quick ratio of 0.54, a current ratio of 1.39 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $53.08 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 0.55 and a beta of 1.48. The company has a 50 day moving average price of $58.43 and a two-hundred day moving average price of $53.37. ArcelorMittal has a 12-month low of $29.76 and a 12-month high of $68.82.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. ArcelorMittal had a net margin of 4.71% and a return on equity of 4.77%. The company had revenue of $15.46 billion for the quarter, compared to analyst estimates of $17.04 billion. During the same quarter last year, the firm posted $1.05 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts predict that ArcelorMittal will post 4.69 earnings per share for the current fiscal year.

ArcelorMittal Profile

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.