Dauntless Investment Group LLC Buys New Stake in ArcelorMittal S.A. (NYSE:MT)

Dauntless Investment Group LLC acquired a new stake in shares of ArcelorMittal S.A. (NYSE:MT) in the fourth quarter, Holdings Channel.com reports. The firm acquired 28,306 shares of the basic materials company’s stock, valued at approximately $655,000. ArcelorMittal makes up about 0.7% of Dauntless Investment Group LLC’s portfolio, making the stock its 15th largest position.

Several other institutional investors also recently bought and sold shares of MT. MML Investors Services LLC purchased a new stake in shares of ArcelorMittal during the 3rd quarter worth about $308,000. GAMMA Investing LLC raised its holdings in ArcelorMittal by 68.5% in the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 595 shares during the period. Park Avenue Securities LLC purchased a new position in ArcelorMittal during the fourth quarter worth approximately $212,000. Janney Montgomery Scott LLC purchased a new position in ArcelorMittal in the 4th quarter valued at about $233,000. Finally, Geneos Wealth Management Inc. increased its stake in ArcelorMittal by 89.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock worth $26,000 after buying an additional 536 shares in the last quarter. 9.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MT has been the topic of several recent research reports. The Goldman Sachs Group raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $29.00 to $31.70 in a research note on Thursday, April 10th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of ArcelorMittal in a research report on Monday, April 14th. Morgan Stanley lowered shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group downgraded shares of ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 price objective on the stock. in a research report on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $32.95.

ArcelorMittal Price Performance

Shares of NYSE MT opened at $28.92 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59. The company has a market cap of $23.69 billion, a PE ratio of 17.53, a P/E/G ratio of 0.14 and a beta of 1.60. The stock has a fifty day moving average price of $28.96 and a 200 day moving average price of $26.07. ArcelorMittal S.A. has a 1-year low of $20.52 and a 1-year high of $34.90.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Thursday, February 6th. The basic materials company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. Sell-side analysts forecast that ArcelorMittal S.A. will post 3.72 EPS for the current year.

ArcelorMittal Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Thursday, November 13th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a dividend yield of 1.5%. ArcelorMittal’s dividend payout ratio is presently 27.88%.

ArcelorMittal Profile

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.