BlueMountain Capital Management LLC Takes Position in ArcelorMittal SA (MT)

BlueMountain Capital Management LLC purchased a new stake in shares of ArcelorMittal SA (NYSE:MT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 35,965 shares of the basic materials company’s stock, valued at approximately $1,035,000.

Several other large investors have also made changes to their positions in MT. Greenleaf Trust lifted its holdings in ArcelorMittal by 18.9% in the second quarter. Greenleaf Trust now owns 9,882 shares of the basic materials company’s stock valued at $284,000 after acquiring an additional 1,572 shares during the period. LPL Financial LLC lifted its holdings in ArcelorMittal by 23.4% in the first quarter. LPL Financial LLC now owns 8,501 shares of the basic materials company’s stock valued at $270,000 after acquiring an additional 1,610 shares during the period. Intrust Bank NA lifted its holdings in ArcelorMittal by 6.1% in the second quarter. Intrust Bank NA now owns 32,517 shares of the basic materials company’s stock valued at $936,000 after acquiring an additional 1,874 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in ArcelorMittal by 8.6% in the first quarter. Cubist Systematic Strategies LLC now owns 24,375 shares of the basic materials company’s stock valued at $775,000 after acquiring an additional 1,926 shares during the period. Finally, BlackRock Inc. lifted its holdings in ArcelorMittal by 2.7% in the second quarter. BlackRock Inc. now owns 89,829 shares of the basic materials company’s stock valued at $2,586,000 after acquiring an additional 2,364 shares during the period. 3.45% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MT opened at $28.96 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 0.60. The stock has a market capitalization of $28.95 billion, a price-to-earnings ratio of 5.49, a P/E/G ratio of 1.06 and a beta of 2.32. ArcelorMittal SA has a 52 week low of $24.74 and a 52 week high of $37.50.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.28. The business had revenue of $20 billion during the quarter, compared to analysts’ expectations of $20.25 billion. ArcelorMittal had a return on equity of 12.62% and a net margin of 7.11%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.29 earnings per share. research analysts anticipate that ArcelorMittal SA will post 5.59 earnings per share for the current fiscal year.

A number of research analysts have weighed in on the company. UBS Group downgraded ArcelorMittal from a “buy” rating to a “sell” rating in a report on Thursday, June 7th. Jefferies Financial Group reissued a “buy” rating on shares of ArcelorMittal in a report on Wednesday, June 6th. Credit Suisse Group reissued a “buy” rating on shares of ArcelorMittal in a report on Thursday, May 24th. TheStreet upgraded ArcelorMittal from a “c+” rating to a “b” rating in a research report on Wednesday, June 6th. Finally, ValuEngine cut ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. ArcelorMittal has an average rating of “Buy” and a consensus price target of $38.33.

ArcelorMittal Profile

ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through NAFTA, Brazil, Europe, ACIS, and Mining segments. The company produces finished and semi-finished steel products with various specifications.

See Also: Closed-End Mutual Funds (CEFs)

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Institutional Ownership by Quarter for ArcelorMittal (NYSE:MT)

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