Posted by admin on Aug 19th, 2022
Advisor Group Holdings Inc. decreased its holdings in ArcelorMittal S.A. (NYSE:MT – Get Rating) by 29.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,760 shares of the basic materials company’s stock after selling 21,501 shares during the period. Advisor Group Holdings Inc.’s holdings in ArcelorMittal were worth $1,632,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently bought and sold shares of MT. Raymond James & Associates increased its position in shares of ArcelorMittal by 5.6% during the fourth quarter. Raymond James & Associates now owns 56,978 shares of the basic materials company’s stock worth $1,814,000 after purchasing an additional 3,044 shares in the last quarter. Wexford Capital LP acquired a new position in shares of ArcelorMittal during the fourth quarter worth $2,139,000. Avestar Capital LLC increased its position in shares of ArcelorMittal by 8.0% during the first quarter. Avestar Capital LLC now owns 24,498 shares of the basic materials company’s stock worth $784,000 after purchasing an additional 1,808 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in shares of ArcelorMittal during the fourth quarter worth $605,000. Finally, Myriad Asset Management Ltd. increased its position in shares of ArcelorMittal by 87.5% during the fourth quarter. Myriad Asset Management Ltd. now owns 218,301 shares of the basic materials company’s stock worth $6,949,000 after purchasing an additional 101,849 shares in the last quarter. Institutional investors own 41.79% of the company’s stock.
NYSE:MT opened at $24.68 on Friday. ArcelorMittal S.A. has a one year low of $20.86 and a one year high of $37.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.68 and a current ratio of 1.58. The firm has a market cap of $23.15 billion, a price-to-earnings ratio of 1.49 and a beta of 1.95. The firm’s fifty day moving average is $24.04 and its two-hundred day moving average is $28.59.
ArcelorMittal (NYSE:MT – Get Rating) last posted its earnings results on Wednesday, July 27th. The basic materials company reported $4.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.19 by $0.05. ArcelorMittal had a net margin of 19.66% and a return on equity of 31.17%. The business had revenue of $22.14 billion for the quarter, compared to analyst estimates of $21.75 billion. During the same period in the prior year, the company posted $3.46 EPS. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. Research analysts expect that ArcelorMittal S.A. will post 12.41 EPS for the current year.
A number of brokerages have recently issued reports on MT. JPMorgan Chase & Co. upped their price target on ArcelorMittal from €30.50 ($31.12) to €31.00 ($31.63) in a research report on Monday, August 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of ArcelorMittal from €38.00 ($38.78) to €37.00 ($37.76) in a report on Monday, August 1st. UBS Group dropped their price objective on shares of ArcelorMittal from €38.00 ($38.78) to €27.00 ($27.55) in a report on Tuesday, July 26th. Morgan Stanley boosted their price objective on shares of ArcelorMittal from €46.00 ($46.94) to €46.10 ($47.04) and gave the company an “overweight” rating in a report on Thursday, June 23rd. Finally, StockNews.com lowered shares of ArcelorMittal from a “strong-buy” rating to a “buy” rating in a report on Friday, July 29th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, ArcelorMittal has a consensus rating of “Moderate Buy” and a consensus price target of $39.35.
ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in Europe, North and South America, Asia, and Africa. Its principal steel products include semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, which includes blooms and billets; finished long products, including bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.
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