O Shaughnessy Asset Management LLC acquired a new position in shares of ArcelorMittal (NYSE:MT) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 6,050 shares of the basic materials company’s stock, valued at approximately $192,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Anchor Bolt Capital LP acquired a new stake in ArcelorMittal during the 4th quarter worth $35,842,000. Capital Growth Management LP acquired a new stake in ArcelorMittal during the 4th quarter worth $32,310,000. Millennium Management LLC raised its stake in ArcelorMittal by 67.3% during the 4th quarter. Millennium Management LLC now owns 782,879 shares of the basic materials company’s stock worth $25,295,000 after acquiring an additional 315,023 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in ArcelorMittal by 31.4% during the 4th quarter. TIAA CREF Investment Management LLC now owns 864,913 shares of the basic materials company’s stock worth $27,945,000 after acquiring an additional 206,672 shares in the last quarter. Finally, Lombard Odier Asset Management USA Corp acquired a new stake in ArcelorMittal during the 4th quarter worth $3,085,000. 4.99% of the stock is owned by institutional investors and hedge funds.
NYSE MT opened at $34.59 on Tuesday. The company has a current ratio of 1.26, a quick ratio of 0.44 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $35.95 billion, a price-to-earnings ratio of 6.48 and a beta of 2.38. ArcelorMittal has a one year low of $19.59 and a one year high of $37.50.
ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Friday, May 11th. The basic materials company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.18. The company had revenue of $19.19 billion for the quarter, compared to analyst estimates of $19.38 billion. ArcelorMittal had a net margin of 6.63% and a return on equity of 11.85%. equities analysts anticipate that ArcelorMittal will post 4.22 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 13th. Shareholders of record on Friday, May 18th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $0.40 dividend on an annualized basis and a yield of 1.16%. ArcelorMittal’s dividend payout ratio is presently 1.69%.
ArcelorMittal declared that its board has approved a share repurchase plan on Tuesday, March 13th that allows the company to repurchase $280.00 million in outstanding shares. This repurchase authorization allows the basic materials company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
Several brokerages recently commented on MT. Bank of America upgraded shares of ArcelorMittal from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 20th. Goldman Sachs reiterated a “buy” rating on shares of ArcelorMittal in a research note on Monday, February 19th. JPMorgan Chase reiterated a “buy” rating on shares of ArcelorMittal in a research note on Wednesday, March 7th. ValuEngine upgraded shares of ArcelorMittal from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Finally, Cowen lifted their price target on shares of ArcelorMittal from $35.00 to $38.00 and gave the stock a “market perform” rating in a research note on Tuesday, May 15th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. ArcelorMittal has a consensus rating of “Buy” and a consensus price target of $36.75.
ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through NAFTA, Brazil, Europe, ACIS, and Mining segments. The company produces finished and semi-finished steel products with various specifications.
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