Quantbot Technologies LP Purchases New Stake in ArcelorMittal SA (MT)
Quantbot Technologies LP purchased a new position in shares of ArcelorMittal SA (NYSE:MT) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 19,403 shares of the basic materials company’s stock, valued at approximately $499,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BB&T Corp grew its position in ArcelorMittal by 0.4% during the 2nd quarter. BB&T Corp now owns 35,799 shares of the basic materials company’s stock worth $813,000 after acquiring an additional 137 shares during the last quarter. Alliancebernstein L.P. grew its position in ArcelorMittal by 1.2% during the 1st quarter. Alliancebernstein L.P. now owns 59,901 shares of the basic materials company’s stock worth $500,000 after acquiring an additional 720 shares during the last quarter. Quadrant Capital Group LLC grew its position in ArcelorMittal by 24.9% during the 2nd quarter. Quadrant Capital Group LLC now owns 7,412 shares of the basic materials company’s stock worth $157,000 after acquiring an additional 1,479 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in ArcelorMittal by 5.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 50,533 shares of the basic materials company’s stock worth $1,149,000 after acquiring an additional 2,491 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in ArcelorMittal by 6.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 50,354 shares of the basic materials company’s stock worth $1,297,000 after buying an additional 3,120 shares during the period. Institutional investors and hedge funds own 4.40% of the company’s stock.
Several equities research analysts have weighed in on the company. Cowen Inc increased their price objective on ArcelorMittal from $27.00 to $32.00 and gave the stock a “market perform” rating in a report on Monday, November 13th. Zacks Investment Research cut ArcelorMittal from a “strong-buy” rating to a “hold” rating in a report on Wednesday. UBS AG upgraded ArcelorMittal from a “neutral” rating to a “buy” rating in a report on Friday, October 20th. ValuEngine cut ArcelorMittal from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 26th. Finally, Goldman Sachs Group Inc reiterated a “buy” rating on shares of ArcelorMittal in a report on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the stock. ArcelorMittal has an average rating of “Buy” and a consensus target price of $33.55.
Shares of ArcelorMittal SA (NYSE:MT) opened at $29.56 on Friday. ArcelorMittal SA has a fifty-two week low of $19.59 and a fifty-two week high of $30.50. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.21 and a quick ratio of 0.44. The firm has a market capitalization of $30,110.05, a P/E ratio of 7.43, a price-to-earnings-growth ratio of 0.68 and a beta of 2.19.
ArcelorMittal (NYSE:MT) last released its earnings results on Friday, November 10th. The basic materials company reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.32. The company had revenue of $17.64 billion during the quarter, compared to analysts’ expectations of $17.08 billion. ArcelorMittal had a return on equity of 11.57% and a net margin of 6.04%. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. sell-side analysts forecast that ArcelorMittal SA will post 3.89 earnings per share for the current year.
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ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.
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