Marnell Management LLC Purchases Shares of 14,888 ArcelorMittal $MT

Marnell Management LLC acquired a new stake in ArcelorMittal (NYSE:MT) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,888 shares of the basic materials company’s stock, valued at approximately $678,000.

A number of other hedge funds have also recently made changes to their positions in the business. State of Wyoming purchased a new stake in shares of ArcelorMittal during the third quarter worth about $36,000. True Wealth Design LLC raised its stake in ArcelorMittal by 41.4% during the 4th 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in ArcelorMittal during the 4th quarter valued at approximately $44,000. Geneos Wealth Management Inc. raised its stake in ArcelorMittal by 44.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 501 shares during the period. Finally, Allworth Financial LP raised its stake in ArcelorMittal by 91.5% during the 4th quarter. Allworth Financial LP now owns 1,126 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 538 shares during the period. Institutional investors own 9.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. KeyCorp assumed coverage on ArcelorMittal in a research note on Wednesday, March 25th. They set a “sector weight” rating on the stock. Morgan Stanley restated an “overweight” rating on shares of ArcelorMittal in a research report on Tuesday, February 17th. Weiss Ratings upgraded shares of ArcelorMittal from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. lowered shares of ArcelorMittal from an “overweight” rating to an “underweight” rating in a research report on Monday, March 9th. Finally, Santander lowered shares of ArcelorMittal from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 21st. Six research 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.07.

ArcelorMittal Price Performance

ArcelorMittal stock opened at $70.77 on Monday. The company has a market cap of $54.84 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 0.57 and a beta of 1.53. The firm’s fifty day moving average is $62.73 and its 200 day moving average is $55.84. The company has a quick ratio of 0.54, a current ratio of 1.39 and a debt-to-equity ratio of 0.19. ArcelorMittal has a 52-week low of $29.80 and a 52-week high of $72.50.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. The company had revenue of $15.46 billion for the quarter, compared to the consensus estimate of $17.04 billion. ArcelorMittal had a net margin of 4.71% and a return on equity of 4.77%. ArcelorMittal’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 earnings per share. Sell-side analysts forecast that ArcelorMittal will post 4.69 EPS for the current fiscal 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.