ArcelorMittal $MT Shares Acquired by Maple Rock Capital Partners Inc.

Maple Rock Capital Partners Inc. increased its position in shares of ArcelorMittal (NYSE:MT) by 54.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,190,860 shares of the basic materials company’s stock after buying an additional 776,595 shares during the period. ArcelorMittal comprises approximately 2.6% of Maple Rock Capital Partners Inc.’s holdings, making the stock its 12th biggest holding. Maple Rock Capital Partners Inc. owned about 0.28% of ArcelorMittal worth $131,934,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MT. Cetera Investment Advisers grew its stake in shares of ArcelorMittal by 1.0% during the fourth quarter. Cetera Investment Advisers now owns 18,386 shares of the basic materials company’s stock valued at $838,000 after acquiring an additional 190 shares in the last quarter. Aaron Wealth Advisors LLC grew its stake in ArcelorMittal by 4.9% during the 1st quarter. Aaron Wealth Advisors LLC now owns 5,671 shares of the basic materials company’s stock valued at $295,000 after purchasing an additional 263 shares in the last quarter. Parallel Advisors LLC increased its holdings in ArcelorMittal by 16.4% during the 4th quarter. Parallel Advisors LLC now owns 2,455 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 346 shares during the last quarter. GC Wealth Management RIA LLC increased its holdings in ArcelorMittal by 4.2% during the 1st quarter. GC Wealth Management RIA LLC now owns 10,186 shares of the basic materials company’s stock worth $529,000 after purchasing an additional 413 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its position in shares of ArcelorMittal by 6.7% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 7,143 shares of the basic materials company’s stock valued at $326,000 after purchasing an additional 448 shares in the last quarter. Institutional investors and hedge funds own 9.29% of the company’s stock.

ArcelorMittal Price Performance

MT opened at $74.63 on Tuesday. The company has a quick ratio of 0.57, a current ratio of 1.43 and a debt-to-equity ratio of 0.21. The company’s 50-day moving average price is $68.45 and its 200 day moving average price is $63.59. ArcelorMittal has a fifty-two week low of $31.93 and a fifty-two week high of $75.93. The firm has a market cap of $57.84 billion, a price-to-earnings ratio of 31.62, a price-to-earnings-growth ratio of 0.56 and a beta of 1.53.

ArcelorMittal (NYSE:MT) last posted its 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). ArcelorMittal had a net margin of 2.88% and a return on equity of 4.20%. The company had revenue of $16.76 billion for the quarter, compared to the consensus estimate of $17.56 billion. During the same period last year, the company posted $1.32 earnings per share. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, sell-side analysts expect that ArcelorMittal will post 4.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MT. Morgan Stanley initiated coverage on shares of ArcelorMittal in a report on Monday, August 24th. They set an “overweight” rating and a $82.00 price objective for the company. Wells Fargo & Company upped their target price on shares of ArcelorMittal from $62.00 to $69.00 and gave the company an “equal weight” rating in a research note on Friday, July 31st. Citigroup reaffirmed a “buy” rating on shares of ArcelorMittal in a research report on Tuesday, August 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $75.00 price objective on shares of ArcelorMittal in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. raised ArcelorMittal from an “underweight” rating to a “neutral” rating in a report on Friday, July 10th. Five research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, ArcelorMittal has an average rating of “Hold” and a consensus target price of $74.80.

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.