Callan Family Office LLC Purchases New Position in ArcelorMittal $MT

Callan Family Office LLC purchased a new stake in shares of ArcelorMittal (NYSE:MT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 9,966 shares of the basic materials company’s stock, valued at approximately $315,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in ArcelorMittal by 22.0% during the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,872,477 shares of the basic materials company’s stock valued at $54,021,000 after purchasing an additional 337,158 shares during the last quarter. OLD Mission Capital LLC lifted its holdings in ArcelorMittal by 20.1% during the 1st quarter. OLD Mission Capital LLC now owns 814,793 shares of the basic materials company’s stock valued at $23,507,000 after purchasing an additional 136,443 shares during the last quarter. ABC Arbitrage SA lifted its holdings in ArcelorMittal by 31.0% during the 1st quarter. ABC Arbitrage SA now owns 560,329 shares of the basic materials company’s stock valued at $16,165,000 after purchasing an additional 132,535 shares during the last quarter. Telemark Asset Management LLC bought a new position in ArcelorMittal during the 1st quarter valued at about $11,540,000. Finally, American Century Companies Inc. lifted its holdings in ArcelorMittal by 0.5% during the 1st quarter. American Century Companies Inc. now owns 282,224 shares of the basic materials company’s stock valued at $8,142,000 after purchasing an additional 1,386 shares during the last quarter. 9.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of ArcelorMittal in a report on Wednesday, October 8th. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of ArcelorMittal in a research note on Friday, October 10th. Wells Fargo & Company raised shares of ArcelorMittal to a “hold” rating in a research note on Thursday, August 14th. Wall Street Zen downgraded shares of ArcelorMittal from a “buy” rating to a “hold” rating in a research note on Saturday, October 11th. Finally, Barclays downgraded shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 16th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, ArcelorMittal presently has an average rating of “Hold” and an average target price of $33.45.

ArcelorMittal Stock Down 0.1%

Shares of NYSE MT opened at $38.29 on Thursday. The stock has a market cap of $31.37 billion, a P/E ratio of 11.82, a P/E/G ratio of 0.16 and a beta of 1.69. The firm has a 50 day moving average price of $35.22 and a 200 day moving average price of $32.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.59 and a current ratio of 1.40. ArcelorMittal has a 52-week low of $21.59 and a 52-week high of $41.28.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.01). The firm had revenue of $15.93 billion for the quarter, compared to analyst estimates of $15.48 billion. ArcelorMittal had a net margin of 4.11% and a return on equity of 4.99%. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS. Analysts expect that ArcelorMittal will post 3.72 EPS for the current year.

About ArcelorMittal

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.