Commerzbank Aktiengesellschaft FI decreased its position in shares of ArcelorMittal (NYSE:MT) by 91.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,578 shares of the basic materials company’s stock after selling 130,354 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in ArcelorMittal were worth $286,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Cambiar Investors LLC bought a new stake in shares of ArcelorMittal in the 2nd quarter valued at $114,710,000. Renaissance Technologies LLC increased its stake in shares of ArcelorMittal by 311.2% in the 1st quarter. Renaissance Technologies LLC now owns 4,760,754 shares of the basic materials company’s stock valued at $39,755,000 after acquiring an additional 3,603,075 shares in the last quarter. Credit Suisse AG increased its stake in shares of ArcelorMittal by 2,724.4% in the 1st quarter. Credit Suisse AG now owns 4,540,212 shares of the basic materials company’s stock valued at $37,910,000 after acquiring an additional 4,379,463 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of ArcelorMittal by 2.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,756,562 shares of the basic materials company’s stock valued at $31,367,000 after acquiring an additional 97,928 shares in the last quarter. Finally, FMR LLC increased its stake in shares of ArcelorMittal by 2.3% in the 1st quarter. FMR LLC now owns 2,937,110 shares of the basic materials company’s stock valued at $24,525,000 after acquiring an additional 67,100 shares in the last quarter. Hedge funds and other institutional investors own 3.57% of the company’s stock.
Shares of ArcelorMittal (NYSE:MT) opened at 27.20 on Tuesday. ArcelorMittal has a 52-week low of $16.14 and a 52-week high of $28.11. The company has a 50-day moving average of $26.27 and a 200 day moving average of $24.27. The firm has a market cap of $27.74 billion, a P/E ratio of 8.56 and a beta of 2.10.
ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.55. The business had revenue of $17.24 billion during the quarter, compared to the consensus estimate of $16.88 billion. ArcelorMittal had a return on equity of 10.52% and a net margin of 5.50%. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 earnings per share. On average, equities analysts expect that ArcelorMittal will post $3.12 earnings per share for the current year.
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Several analysts have recently weighed in on MT shares. TheStreet upgraded shares of ArcelorMittal from a “c” rating to a “b-” rating in a research note on Monday, May 15th. Jefferies Group LLC reiterated a “buy” rating and issued a $30.00 price objective on shares of ArcelorMittal in a research note on Tuesday, May 30th. Cowen and Company reiterated a “buy” rating and issued a $11.00 price objective on shares of ArcelorMittal in a research note on Friday, May 19th. Zacks Investment Research upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Tuesday, July 11th. Finally, BidaskClub upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $29.72.
ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.
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