ArcelorMittal $MT Stock Holdings Lowered by Impala Asset Management LLC

Impala Asset Management LLC cut its holdings in shares of ArcelorMittal (NYSE:MT) by 30.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,887 shares of the basic materials company’s stock after selling 47,979 shares during the period. ArcelorMittal makes up approximately 2.6% of Impala Asset Management LLC’s holdings, making the stock its 12th biggest position. Impala Asset Management LLC’s holdings in ArcelorMittal were worth $5,671,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in MT. True Wealth Design LLC increased its holdings in shares of ArcelorMittal by 41.4% in the fourth quarter. True Wealth Design LLC now owns 799 shares of the basic materials company’s stock valued at $36,000 after buying an additional 234 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of ArcelorMittal during the 4th quarter valued at $44,000. Geneos Wealth Management Inc. boosted its stake in shares of ArcelorMittal by 44.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 501 shares in the last quarter. Allworth Financial LP grew its holdings in shares of ArcelorMittal by 91.5% in the 4th quarter. Allworth Financial LP now owns 1,126 shares of the basic materials company’s stock worth $51,000 after acquiring an additional 538 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of ArcelorMittal by 126.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,146 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 640 shares during the last quarter. 9.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Santander lowered ArcelorMittal from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. upgraded ArcelorMittal from an “underweight” rating to a “neutral” rating in a research report on Friday, July 10th. Jefferies Financial Group reissued a “buy” rating on shares of ArcelorMittal in a research note on Monday, July 6th. KeyCorp started coverage on ArcelorMittal in a report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Finally, Weiss Ratings raised shares of ArcelorMittal from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. Six research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.40.

ArcelorMittal Stock Up 1.1%

NYSE:MT opened at $66.52 on Thursday. The business’s fifty day moving average price is $65.34 and its 200 day moving average price is $59.72. The firm has a market capitalization of $51.55 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 0.50 and a beta of 1.55. The company has a current ratio of 1.39, a quick ratio of 0.54 and a debt-to-equity ratio of 0.19. ArcelorMittal has a 1-year low of $30.17 and a 1-year high of $72.50.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. ArcelorMittal had a return on equity of 4.77% and a net margin of 4.71%.The firm had revenue of $15.46 billion during the quarter, compared to analyst estimates of $17.04 billion. During the same period last year, the company posted $1.05 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts forecast that ArcelorMittal will post 4.89 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.