Mechel PAO (NYSE:MTL) Position Boosted by Bank of America Corp DE
Bank of America Corp DE raised its position in shares of Mechel PAO (NYSE:MTL) by 11.9% during the first quarter, Holdings Channel reports. The fund owned 479,856 shares of the basic materials company’s stock after buying an additional 50,980 shares during the period. Bank of America Corp DE’s holdings in Mechel PAO were worth $2,553,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Guggenheim Capital LLC acquired a new position in Mechel PAO during the fourth quarter worth approximately $135,000. Parametric Portfolio Associates LLC raised its position in Mechel PAO by 21.0% in the first quarter. Parametric Portfolio Associates LLC now owns 916,099 shares of the basic materials company’s stock worth $4,874,000 after buying an additional 158,851 shares during the last quarter. California Public Employees Retirement System raised its position in Mechel PAO by 24.1% in the first quarter. California Public Employees Retirement System now owns 1,063,050 shares of the basic materials company’s stock worth $5,655,000 after buying an additional 206,400 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Mechel PAO by 56.7% in the first quarter. Van ECK Associates Corp now owns 1,761,309 shares of the basic materials company’s stock worth $9,370,000 after buying an additional 637,478 shares during the last quarter. 8.33% of the stock is owned by institutional investors and hedge funds.
Mechel PAO (MTL) traded down 2.15% on Thursday, reaching $5.00. The company’s stock had a trading volume of 21,467 shares. The firm has a 50-day moving average of $4.80 and a 200-day moving average of $5.23. The company has a market capitalization of $1.04 billion, a PE ratio of 4.53 and a beta of -1.08. Mechel PAO has a one year low of $1.58 and a one year high of $6.83.
Separately, BidaskClub raised Mechel PAO from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th.
About Mechel PAO
Mechel PAO, formerly Mechel OAO, is a holding company. The Company operates in the mining, steel and power industry segments. Its segments include Steel segment, comprising production and sales of semi-finished steel products, carbon and specialty long products, carbon and stainless flat products, and value-added downstream metal products, including forgings, stampings, and hardware, and ferrosilicon; Mining segment, comprising production and sales of coal (coking and steam), and middlings, coke and chemical products, and iron ore, which supplies raw materials to the Steel and Power segments, and also sells raw materials to third parties, and Power segment, comprising generation and sales of electricity and heat power, which supplies electricity and heat power to the Steel and Mining segments, and also sells a portion of electricity and heat power to third parties.
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