Capital Wealth Planning LLC Grows Stock Position in ArcelorMittal $MT

Capital Wealth Planning LLC lifted its stake in ArcelorMittal (NYSE:MT) by 156.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 235,750 shares of the basic materials company’s stock after purchasing an additional 143,758 shares during the period. Capital Wealth Planning LLC’s holdings in ArcelorMittal were worth $11,127,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. TD Waterhouse Canada Inc. increased its holdings in shares of ArcelorMittal by 11.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,141 shares of the basic materials company’s stock valued at $98,000 after purchasing an additional 216 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of ArcelorMittal by 41.4% in the fourth quarter. True Wealth Design LLC now owns 799 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 234 shares during the last quarter. GK Wealth Management LLC increased its holdings in shares of ArcelorMittal by 4.1% in the third quarter. GK Wealth Management LLC now owns 7,129 shares of the basic materials company’s stock valued at $258,000 after purchasing an additional 284 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of ArcelorMittal by 16.4% in the fourth quarter. Parallel Advisors LLC now owns 2,455 shares of the basic materials company’s stock valued at $112,000 after purchasing an additional 346 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of ArcelorMittal by 15.6% in the fourth quarter. GAMMA Investing LLC now owns 3,179 shares of the basic materials company’s stock valued at $145,000 after purchasing an additional 430 shares during the last quarter. Institutional investors and hedge funds own 9.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Santander cut ArcelorMittal from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 21st. Jefferies Financial Group raised ArcelorMittal from a “hold” rating to a “buy” rating and increased their price target for the company from $51.10 to $73.20 in a report on Wednesday, February 11th. Weiss Ratings raised ArcelorMittal from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. JPMorgan Chase & Co. cut ArcelorMittal from an “overweight” rating to an “underweight” rating in a report on Monday, March 9th. Finally, Citigroup reissued a “buy” rating on shares of ArcelorMittal in a research note on Wednesday, May 20th. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $61.07.

ArcelorMittal Price Performance

MT stock opened at $63.70 on Thursday. The business has a fifty day moving average of $62.05 and a two-hundred day moving average of $55.42. The company has a quick ratio of 0.54, a current ratio of 1.39 and a debt-to-equity ratio of 0.19. The stock has a market cap of $49.37 billion, a price-to-earnings ratio of 16.72, a price-to-earnings-growth ratio of 0.54 and a beta of 1.53. ArcelorMittal has a 52-week low of $29.80 and a 52-week high of $72.50.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, April 30th. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.04. The company had revenue of $15.46 billion during the quarter, compared to analysts’ expectations of $17.04 billion. ArcelorMittal had a return on equity of 4.77% and a net margin of 4.71%.The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.05 earnings per share. As a group, research analysts anticipate that ArcelorMittal will post 4.69 earnings per share for the current year.

ArcelorMittal Company Profile

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.