Posted by admin on Aug 15th, 2022
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in ArcelorMittal S.A. (NYSE:MT – Get Rating) by 11.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,412 shares of the basic materials company’s stock after purchasing an additional 2,574 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in ArcelorMittal were worth $781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in ArcelorMittal by 16.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,691,160 shares of the basic materials company’s stock worth $85,659,000 after acquiring an additional 379,648 shares during the period. Bank of Montreal Can grew its holdings in shares of ArcelorMittal by 212.5% in the fourth quarter. Bank of Montreal Can now owns 1,861,147 shares of the basic materials company’s stock valued at $59,091,000 after purchasing an additional 1,265,669 shares during the period. Schonfeld Strategic Advisors LLC grew its holdings in shares of ArcelorMittal by 19.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 767,307 shares of the basic materials company’s stock valued at $24,424,000 after purchasing an additional 125,474 shares during the period. Connectus Wealth LLC purchased a new stake in shares of ArcelorMittal in the first quarter valued at about $18,154,000. Finally, Causeway Capital Management LLC grew its holdings in shares of ArcelorMittal by 2.7% in the fourth quarter. Causeway Capital Management LLC now owns 280,763 shares of the basic materials company’s stock valued at $8,937,000 after purchasing an additional 7,279 shares during the period. 41.79% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:MT opened at $25.40 on Monday. The company has a quick ratio of 0.68, a current ratio of 1.58 and a debt-to-equity ratio of 0.11. ArcelorMittal S.A. has a fifty-two week low of $20.86 and a fifty-two week high of $37.87. The firm’s 50 day moving average price is $24.61 and its 200 day moving average price is $28.71. The stock has a market cap of $23.82 billion, a price-to-earnings ratio of 1.53 and a beta of 1.95.
ArcelorMittal (NYSE:MT – Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The basic materials company reported $4.24 earnings per share for the quarter, topping analysts’ consensus estimates of $4.19 by $0.05. ArcelorMittal had a net margin of 19.66% and a return on equity of 31.17%. The company had revenue of $22.14 billion for the quarter, compared to analysts’ expectations of $21.75 billion. During the same quarter last year, the company earned $3.46 earnings per share. The firm’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities research analysts predict that ArcelorMittal S.A. will post 12.41 earnings per share for the current fiscal year.
MT has been the subject of several research analyst reports. JPMorgan Chase & Co. increased their target price on shares of ArcelorMittal from €30.50 ($31.12) to €31.00 ($31.63) in a research note on Monday, August 1st. UBS Group reduced their price target on shares of ArcelorMittal from €38.00 ($38.78) to €27.00 ($27.55) in a research report on Tuesday, July 26th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of ArcelorMittal from €38.00 ($38.78) to €37.00 ($37.76) in a research report on Monday, August 1st. StockNews.com cut shares of ArcelorMittal from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 29th. Finally, Morgan Stanley increased their price target on shares of ArcelorMittal from €46.00 ($46.94) to €46.10 ($47.04) and gave the stock an “overweight” rating in a research report on Thursday, June 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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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