ArcelorMittal S.A. (NYSE:MT) Shares Bought by Creative Planning

Creative Planning grew its position in ArcelorMittal S.A. (NYSE:MT) by 25.2% in the second quarter, HoldingsChannel reports. The fund owned 49,328 shares of the basic materials company’s stock after acquiring an additional 9,938 shares during the quarter. Creative Planning’s holdings in ArcelorMittal were worth $1,131,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MT. Maple Rock Capital Partners Inc. purchased a new position in shares of ArcelorMittal in the 1st quarter valued at about $36,406,000. Bank of New York Mellon Corp grew its holdings in ArcelorMittal by 2,038.3% in the second quarter. Bank of New York Mellon Corp now owns 822,426 shares of the basic materials company’s stock valued at $18,858,000 after purchasing an additional 783,965 shares during the period. Encompass Capital Advisors LLC acquired a new stake in ArcelorMittal in the second quarter valued at approximately $12,679,000. MMCAP International Inc. SPC increased its position in shares of ArcelorMittal by 103.4% in the first quarter. MMCAP International Inc. SPC now owns 650,820 shares of the basic materials company’s stock valued at $17,950,000 after buying an additional 330,820 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in shares of ArcelorMittal during the 1st quarter worth approximately $2,705,000. 9.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MT has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of ArcelorMittal from a “hold” rating to a “buy” rating and lifted their price target for the company from $29.00 to $31.00 in a research note on Wednesday, August 28th. Barclays upgraded shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research report on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.30.

ArcelorMittal Stock Performance

Shares of NYSE:MT opened at $24.62 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.53 and a quick ratio of 0.66. ArcelorMittal S.A. has a 1 year low of $20.52 and a 1 year high of $29.01. The firm has a market capitalization of $19.83 billion, a PE ratio of 27.66, a P/E/G ratio of 0.44 and a beta of 1.77. The business’s 50 day moving average price is $23.25 and its 200-day moving average price is $24.41.

ArcelorMittal (NYSE:MT) last announced its earnings results on Thursday, August 1st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.49). The business had revenue of $16.25 billion for the quarter, compared to analyst estimates of $16.32 billion. ArcelorMittal had a positive return on equity of 6.00% and a negative net margin of 0.93%. The company’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same period last year, the firm earned $2.20 EPS. As a group, equities research analysts expect that ArcelorMittal S.A. will post 3.14 earnings per share for the current fiscal year.

About ArcelorMittal

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers 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, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.