Cubist Systematic Strategies LLC Raises Position in ArcelorMittal SA (MT)

Cubist Systematic Strategies LLC boosted its stake in ArcelorMittal SA (NYSE:MT) by 206.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,483 shares of the basic materials company’s stock after buying an additional 29,287 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in ArcelorMittal were worth $1,120,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of MT. Quadrant Capital Group LLC raised its holdings in ArcelorMittal by 24.9% in the 2nd quarter. Quadrant Capital Group LLC now owns 7,412 shares of the basic materials company’s stock valued at $157,000 after acquiring an additional 1,479 shares during the last quarter. BNP Paribas Arbitrage SA raised its holdings in ArcelorMittal by 5.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 50,533 shares of the basic materials company’s stock valued at $1,149,000 after acquiring an additional 2,491 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in ArcelorMittal by 6.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 50,354 shares of the basic materials company’s stock valued at $1,297,000 after acquiring an additional 3,120 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in ArcelorMittal by 9.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 53,969 shares of the basic materials company’s stock valued at $1,390,000 after acquiring an additional 4,616 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in ArcelorMittal by 2.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 195,759 shares of the basic materials company’s stock valued at $4,988,000 after acquiring an additional 4,668 shares during the last quarter. 4.11% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ArcelorMittal SA (NYSE MT) opened at $31.65 on Tuesday. The stock has a market cap of $31,210.15, a P/E ratio of 7.70, a PEG ratio of 0.70 and a beta of 2.20. The company has a current ratio of 1.21, a quick ratio of 0.44 and a debt-to-equity ratio of 0.24. ArcelorMittal SA has a 1-year low of $19.59 and a 1-year high of $31.98.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Friday, November 10th. The basic materials company reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.32. The business had revenue of $17.64 billion during the quarter, compared to the consensus estimate of $17.08 billion. ArcelorMittal had a net margin of 6.04% and a return on equity of 11.57%. The business’s revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.22 EPS. research analysts forecast that ArcelorMittal SA will post 3.89 earnings per share for the current fiscal year.

MT has been the subject of a number of recent research reports. UBS reiterated a “buy” rating on shares of ArcelorMittal in a report on Thursday, October 26th. Zacks Investment Research upgraded shares of ArcelorMittal from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 25th. Cowen set a $32.00 price target on shares of ArcelorMittal and gave the stock a “buy” rating in a report on Wednesday, August 23rd. Jefferies Group restated a “buy” rating on shares of ArcelorMittal in a report on Monday, September 18th. Finally, TheStreet downgraded shares of ArcelorMittal from a “b-” rating to a “c+” rating in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $33.55.

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ArcelorMittal Profile

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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Institutional Ownership by Quarter for ArcelorMittal (NYSE:MT)

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