ArcelorMittal (MT) Stake Lessened by Commonwealth of Pennsylvania Public School Empls Retrmt SYS
Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in shares of ArcelorMittal (NYSE:MT) by 47.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,638 shares of the basic materials company’s stock after selling 25,680 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in ArcelorMittal were worth $651,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of MT. Cambiar Investors LLC acquired a new position in ArcelorMittal during the second quarter worth about $114,710,000. Credit Suisse AG grew its position in ArcelorMittal by 2,724.4% during the first quarter. Credit Suisse AG now owns 4,540,212 shares of the basic materials company’s stock worth $37,910,000 after buying an additional 4,379,463 shares during the period. Renaissance Technologies LLC grew its position in ArcelorMittal by 311.2% during the first quarter. Renaissance Technologies LLC now owns 4,760,754 shares of the basic materials company’s stock worth $39,755,000 after buying an additional 3,603,075 shares during the period. Jane Street Group LLC grew its position in ArcelorMittal by 775.6% during the first quarter. Jane Street Group LLC now owns 2,127,765 shares of the basic materials company’s stock worth $17,767,000 after buying an additional 1,884,765 shares during the period. Finally, Morgan Stanley grew its position in ArcelorMittal by 55.5% during the first quarter. Morgan Stanley now owns 2,270,841 shares of the basic materials company’s stock worth $18,961,000 after buying an additional 810,291 shares during the period. Institutional investors and hedge funds own 3.57% of the company’s stock.
Shares of ArcelorMittal (NYSE MT) opened at 26.74 on Monday. The firm has a 50 day moving average of $26.44 and a 200 day moving average of $24.34. The stock has a market cap of $27.27 billion, a P/E ratio of 8.41 and a beta of 2.10. ArcelorMittal has a one year low of $16.14 and a one year high of $28.11.
ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.55. The company had revenue of $17.24 billion for the quarter, compared to analysts’ expectations of $16.88 billion. ArcelorMittal had a net margin of 5.50% and a return on equity of 10.52%. The business’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. On average, equities research analysts predict that ArcelorMittal will post $3.12 EPS for the current fiscal year.
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Several research analysts have weighed in on the stock. BidaskClub upgraded shares of ArcelorMittal from a “sell” rating to a “hold” rating in a research report on Saturday, June 24th. Zacks Investment Research upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Tuesday, July 11th. ValuEngine upgraded shares of ArcelorMittal from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. SBG Securities lowered shares of ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Sunday, July 30th. Finally, Cowen and Company set a $32.00 target price on shares of ArcelorMittal and gave the stock a “buy” rating in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. ArcelorMittal presently has a consensus rating of “Buy” and an average price target of $31.06.
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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