Amanah Holdings Trust Takes Position in ArcelorMittal $MT

Amanah Holdings Trust acquired a new position in ArcelorMittal (NYSE:MT) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 148,000 shares of the basic materials company’s stock, valued at approximately $6,744,000. ArcelorMittal accounts for approximately 1.0% of Amanah Holdings Trust’s portfolio, making the stock its 19th largest holding.

A number of other institutional investors have also recently bought and sold shares of MT. Dimensional Fund Advisors LP increased its stake in ArcelorMittal by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,220,992 shares of the basic materials company’s stock worth $146,780,000 after acquiring an additional 49,614 shares during the period. Maple Rock Capital Partners Inc. grew its holdings in shares of ArcelorMittal by 42.4% during the 4th quarter. Maple Rock Capital Partners Inc. now owns 1,630,600 shares of the basic materials company’s stock worth $74,306,000 after purchasing an additional 485,400 shares in the last quarter. UBS Group AG increased its position in shares of ArcelorMittal by 405.2% in the third quarter. UBS Group AG now owns 1,181,358 shares of the basic materials company’s stock worth $42,706,000 after purchasing an additional 947,532 shares during the period. Bank of America Corp DE increased its position in shares of ArcelorMittal by 15.6% in the third quarter. Bank of America Corp DE now owns 947,909 shares of the basic materials company’s stock worth $34,267,000 after purchasing an additional 128,045 shares during the period. Finally, Retirement Systems of Alabama acquired a new position in ArcelorMittal in the fourth quarter valued at about $30,721,000. Institutional investors own 9.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MT. JPMorgan Chase & Co. cut shares of ArcelorMittal from an “overweight” rating to an “underweight” rating in a research report on Monday, March 9th. Santander downgraded ArcelorMittal from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 21st. KeyCorp started coverage on ArcelorMittal in a research note on Wednesday, March 25th. They issued a “sector weight” rating on the stock. Citigroup reissued a “buy” rating on shares of ArcelorMittal in a report on Wednesday, May 20th. Finally, Wells Fargo & Company upped their price objective on ArcelorMittal from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.07.

ArcelorMittal Trading Down 2.4%

NYSE MT opened at $63.49 on Friday. The business’s fifty day moving average is $63.80 and its 200 day moving average is $56.51. ArcelorMittal has a twelve month low of $29.86 and a twelve month high of $72.50. 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 company has a market cap of $49.21 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 0.53 and a beta of 1.53.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings data 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 business 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 firm’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business earned $1.05 EPS. As a group, sell-side analysts expect that ArcelorMittal will post 4.69 EPS for the current fiscal year.

About ArcelorMittal

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.