Hantz Financial Services Inc. Purchases 5,435 Shares of ArcelorMittal $MT

Hantz Financial Services Inc. boosted its position in ArcelorMittal (NYSE:MT) by 1,397.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,824 shares of the basic materials company’s stock after acquiring an additional 5,435 shares during the quarter. Hantz Financial Services Inc.’s holdings in ArcelorMittal were worth $184,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in ArcelorMittal by 22.0% in the first 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 acquiring an additional 337,158 shares during the last quarter. OLD Mission Capital LLC grew its stake in shares of ArcelorMittal by 20.1% during the first quarter. OLD Mission Capital LLC now owns 814,793 shares of the basic materials company’s stock worth $23,507,000 after buying an additional 136,443 shares during the last quarter. ABC Arbitrage SA grew its stake in shares of ArcelorMittal by 31.0% during the first quarter. ABC Arbitrage SA now owns 560,329 shares of the basic materials company’s stock worth $16,165,000 after buying an additional 132,535 shares during the last quarter. Telemark Asset Management LLC bought a new stake in shares of ArcelorMittal during the first quarter worth $11,540,000. Finally, American Century Companies Inc. grew its stake in shares of ArcelorMittal by 0.5% during the first quarter. American Century Companies Inc. now owns 282,224 shares of the basic materials company’s stock worth $8,142,000 after buying an additional 1,386 shares during the last quarter. 9.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MT has been the topic of a number of research reports. Wells Fargo & Company reaffirmed a “cautious” rating and set a $39.00 target price (up previously from $33.00) on shares of ArcelorMittal in a research note on Thursday, October 23rd. Citigroup reaffirmed a “buy” rating on shares of ArcelorMittal in a research note on Wednesday, October 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ArcelorMittal in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of ArcelorMittal from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Finally, Barclays lowered shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $34.95.

ArcelorMittal Price Performance

Shares of NYSE:MT opened at $38.04 on Monday. The firm has a market cap of $31.17 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 0.17 and a beta of 1.69. The firm’s fifty day moving average is $36.46 and its 200-day moving average is $33.22. 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 released its earnings results on Thursday, July 31st. The basic materials company reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.33 by ($0.01). The firm had revenue of $15.93 billion during 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%. ArcelorMittal’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 EPS. Sell-side analysts predict that ArcelorMittal will post 3.72 earnings per share for the current year.

ArcelorMittal Profile

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.