Posted by admin on Aug 10th, 2022

Prospera Financial Services Inc bought a new stake in shares of ArcelorMittal S.A. (NYSE:MT – Get Rating) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,400 shares of the basic materials company’s stock, valued at approximately $45,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. National Asset Management Inc. increased its stake in shares of ArcelorMittal by 1.5% during the first quarter. National Asset Management Inc. now owns 104,347 shares of the basic materials company’s stock valued at $3,341,000 after purchasing an additional 1,497 shares in the last quarter. Signaturefd LLC increased its position in shares of ArcelorMittal by 47.2% during the first quarter. Signaturefd LLC now owns 12,106 shares of the basic materials company’s stock valued at $388,000 after acquiring an additional 3,883 shares in the last quarter. Pinnacle Private Wealth LLC increased its position in shares of ArcelorMittal by 20.7% during the first quarter. Pinnacle Private Wealth LLC now owns 7,618 shares of the basic materials company’s stock valued at $244,000 after acquiring an additional 1,307 shares in the last quarter. Belpointe Asset Management LLC increased its position in shares of ArcelorMittal by 3.6% during the first quarter. Belpointe Asset Management LLC now owns 36,176 shares of the basic materials company’s stock valued at $1,159,000 after acquiring an additional 1,266 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its position in shares of ArcelorMittal by 10.8% during the first quarter. Vestmark Advisory Solutions Inc. now owns 13,221 shares of the basic materials company’s stock valued at $423,000 after acquiring an additional 1,285 shares in the last quarter. Institutional investors own 41.79% of the company’s stock.

Shares of ArcelorMittal stock opened at $24.94 on Wednesday. The company’s fifty day simple moving average is $25.03 and its 200-day simple moving average is $28.82. The stock has a market capitalization of $23.39 billion, a PE ratio of 1.50 and a beta of 1.95. ArcelorMittal S.A. has a 1-year low of $20.86 and a 1-year high of $37.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.58 and a quick ratio of 0.68.

ArcelorMittal (NYSE:MT – Get Rating) last released its earnings results on Wednesday, July 27th. The basic materials company reported $4.24 earnings per share for the quarter, beating 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 in the previous year, the company earned $3.46 EPS. ArcelorMittal’s revenue for the quarter was up 14.5% on a year-over-year basis. As a group, equities analysts anticipate that ArcelorMittal S.A. will post 12.41 earnings per share for the current year.

Several equities research analysts recently weighed in on MT shares. 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. StockNews.com cut shares of ArcelorMittal from a “strong-buy” rating to a “buy” rating in a report on Friday, July 29th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of ArcelorMittal from €38.00 ($38.78) to €37.00 ($37.76) in a report on Monday, August 1st. Morgan Stanley raised their target price on shares of ArcelorMittal from €46.00 ($46.94) to €46.10 ($47.04) and gave the stock an “overweight” rating in a report on Thursday, June 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of ArcelorMittal from €30.50 ($31.12) to €31.00 ($31.63) in a report on Monday, August 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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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