Dimensional Fund Advisors LP Purchases 11,503 Shares of ArcelorMittal $MT

Dimensional Fund Advisors LP increased its position in shares of ArcelorMittal (NYSE:MT) by 0.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,232,495 shares of the basic materials company’s stock after buying an additional 11,503 shares during the period. Dimensional Fund Advisors LP’s holdings in ArcelorMittal were worth $168,008,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of ArcelorMittal in the 4th quarter valued at $44,000. Allworth Financial LP boosted its stake in ArcelorMittal by 91.5% during the fourth quarter. Allworth Financial LP now owns 1,126 shares of the basic materials company’s stock worth $51,000 after acquiring an additional 538 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in ArcelorMittal by 126.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,146 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 640 shares during the period. Geneos Wealth Management Inc. grew its holdings in ArcelorMittal by 44.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 501 shares during the period. Finally, Atlas Capital Advisors Inc. bought a new stake in ArcelorMittal in the fourth quarter valued at $92,000. Institutional investors and hedge funds own 9.29% of the company’s stock.

ArcelorMittal Trading Up 1.3%

MT opened at $66.95 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.39 and a quick ratio of 0.54. ArcelorMittal has a fifty-two week low of $30.17 and a fifty-two week high of $72.50. The firm has a market capitalization of $51.89 billion, a PE ratio of 17.57, a P/E/G ratio of 0.51 and a beta of 1.55. The company’s 50-day moving average is $65.52 and its 200 day moving average is $59.91.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.04. The business had revenue of $15.46 billion for the quarter, compared to analysts’ expectations of $17.04 billion. ArcelorMittal had a net margin of 4.71% and a return on equity of 4.77%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.05 EPS. As a group, research analysts predict that ArcelorMittal will post 4.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on MT. Citigroup reaffirmed a “buy” rating on shares of ArcelorMittal in a research note on Wednesday, May 20th. JPMorgan Chase & Co. raised ArcelorMittal from an “underweight” rating to a “neutral” rating in a research note on Friday, July 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $70.00 price objective on shares of ArcelorMittal in a report on Tuesday, July 7th. Santander lowered ArcelorMittal from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 21st. Finally, Wells Fargo & Company increased their target price on ArcelorMittal from $61.00 to $62.00 and gave the stock an “equal weight” rating in a report on Thursday, July 9th. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, ArcelorMittal currently has an average rating of “Moderate Buy” and an average price target of $68.40.

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.