BW Gestao de Investimentos Ltda. Buys New Shares in ArcelorMittal $MT

BW Gestao de Investimentos Ltda. purchased a new position in shares of ArcelorMittal (NYSE:MT) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 200,000 shares of the basic materials company’s stock, valued at approximately $9,114,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. lifted its stake in ArcelorMittal by 11.2% during the fourth quarter. TD Waterhouse Canada Inc. now owns 2,141 shares of the basic materials company’s stock worth $98,000 after purchasing an additional 216 shares during the period. True Wealth Design LLC lifted its stake in ArcelorMittal by 41.4% during the fourth quarter. True Wealth Design LLC now owns 799 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 234 shares during the period. GK Wealth Management LLC raised its stake 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 acquiring an additional 284 shares during the last quarter. GAMMA Investing LLC raised its stake 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 acquiring an additional 430 shares during the last quarter. Finally, Legacy Capital Group California Inc. raised its stake in shares of ArcelorMittal by 5.2% in the third quarter. Legacy Capital Group California Inc. now owns 8,919 shares of the basic materials company’s stock valued at $322,000 after acquiring an additional 438 shares during the last quarter. Institutional investors own 9.29% of the company’s stock.

ArcelorMittal Price Performance

MT opened at $70.10 on Tuesday. The company has a fifty day moving average price of $59.54 and a two-hundred day moving average price of $54.01. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.54 and a current ratio of 1.39. ArcelorMittal has a 52 week low of $29.76 and a 52 week high of $70.38. The firm has a market capitalization of $54.33 billion, a PE ratio of 18.40, a P/E/G ratio of 0.56 and a beta of 1.53.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MT shares. Wells Fargo & Company lifted their target price on shares of ArcelorMittal from $60.00 to $61.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Weiss Ratings upgraded shares of ArcelorMittal from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. cut shares of ArcelorMittal from an “overweight” rating to an “underweight” rating in a research note on Monday, March 9th. Jefferies Financial Group upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and lifted their target price for the company from $51.10 to $73.20 in a research note on Wednesday, February 11th. Finally, Citigroup reiterated a “buy” rating on shares of ArcelorMittal in a research note on Wednesday, May 20th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $61.07.

ArcelorMittal 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.