Millennium Management LLC purchased a new stake in shares of ArcelorMittal SA (NYSE:MT) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 217,706 shares of the basic materials company’s stock, valued at approximately $6,266,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC bought a new position in ArcelorMittal during the 2nd quarter valued at approximately $305,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in ArcelorMittal during the 2nd quarter valued at approximately $2,730,000. Stevens Capital Management LP bought a new position in shares of ArcelorMittal in the 2nd quarter worth approximately $1,296,000. Marshall Wace LLP bought a new position in shares of ArcelorMittal in the 2nd quarter worth approximately $13,949,000. Finally, Renaissance Technologies LLC raised its position in shares of ArcelorMittal by 92.2% in the 2nd quarter. Renaissance Technologies LLC now owns 820,401 shares of the basic materials company’s stock worth $23,815,000 after acquiring an additional 393,607 shares in the last quarter. 3.38% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:MT opened at $28.49 on Friday. ArcelorMittal SA has a 52-week low of $27.17 and a 52-week high of $37.50. The company has a market capitalization of $31.47 billion, a PE ratio of 5.34, a PEG ratio of 1.15 and a beta of 2.31. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.38 and a quick ratio of 0.60.
ArcelorMittal (NYSE:MT) last announced its earnings results on Wednesday, August 1st. The basic materials company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.28. ArcelorMittal had a return on equity of 12.62% and a net margin of 7.11%. The firm had revenue of $20 billion during the quarter, compared to analyst estimates of $20.25 billion. During the same quarter in the prior year, the company earned $1.29 EPS. The business’s revenue was up 16.0% compared to the same quarter last year. Equities research analysts forecast that ArcelorMittal SA will post 5.59 EPS for the current year.
MT has been the subject of several research reports. Credit Suisse Group reissued a “buy” rating on shares of ArcelorMittal in a research report on Thursday, August 2nd. Citigroup reissued a “buy” rating on shares of ArcelorMittal in a research report on Thursday, July 12th. Jefferies Financial Group reissued a “buy” rating on shares of ArcelorMittal in a research report on Monday, September 17th. Zacks Investment Research raised ArcelorMittal from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Friday. Finally, ValuEngine raised ArcelorMittal from a “sell” rating to a “hold” rating in a research report on Wednesday, September 26th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. ArcelorMittal has an average rating of “Buy” and a consensus price target of $37.00.
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.
Featured Story: What kind of dividend yield to CEF’s pay?
Want to see what other hedge funds are holding MT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ArcelorMittal SA (NYSE:MT).
Receive News & Ratings for ArcelorMittal Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ArcelorMittal and related companies with MarketBeat.com's FREE daily email newsletter.