ArcelorMittal $MT Holdings Increased by GC Wealth Management RIA LLC

GC Wealth Management RIA LLC increased its holdings in ArcelorMittal (NYSE:MT) by 39.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,317 shares of the basic materials company’s stock after purchasing an additional 3,741 shares during the quarter. GC Wealth Management RIA LLC’s holdings in ArcelorMittal were worth $421,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MT. Hexagon Capital Partners LLC raised its holdings in shares of ArcelorMittal by 25.4% during the first quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 360 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of ArcelorMittal by 4.0% during the first quarter. PNC Financial Services Group Inc. now owns 9,438 shares of the basic materials company’s stock valued at $272,000 after acquiring an additional 362 shares during the period. Evergreen Capital Management LLC raised its holdings in shares of ArcelorMittal by 3.0% during the first quarter. Evergreen Capital Management LLC now owns 14,097 shares of the basic materials company’s stock valued at $407,000 after acquiring an additional 405 shares during the period. US Bancorp DE raised its holdings in shares of ArcelorMittal by 2.7% during the first quarter. US Bancorp DE now owns 15,496 shares of the basic materials company’s stock valued at $447,000 after acquiring an additional 411 shares during the period. Finally, Bayforest Capital Ltd raised its holdings in shares of ArcelorMittal by 23.7% during the first quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 440 shares during the period. 9.29% of the stock is currently owned by institutional investors.

ArcelorMittal Stock Performance

Shares of MT opened at $38.26 on Thursday. The company’s 50 day moving average price is $33.92 and its 200 day moving average price is $31.55. ArcelorMittal has a 52 week low of $21.59 and a 52 week high of $38.41. The company has a market capitalization of $31.34 billion, a PE ratio of 11.81, a PEG ratio of 0.16 and a beta of 1.69. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.59 and a current ratio of 1.40.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, July 31st. The basic materials company reported $1.32 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.01). The business had revenue of $15.93 billion during the quarter, compared to the consensus estimate of $15.48 billion. ArcelorMittal had a return on equity of 4.99% and a net margin of 4.11%.The business’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 earnings per share. Research analysts expect that ArcelorMittal will post 3.72 EPS for the current fiscal year.

Analyst Ratings Changes

MT has been the topic of a number of recent analyst reports. Barclays lowered shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 16th. Wall Street Zen lowered shares of ArcelorMittal from a “buy” rating to a “hold” rating in a report on Sunday, September 21st. Finally, Wells Fargo & Company upgraded shares of ArcelorMittal to a “hold” rating in a report on Thursday, August 14th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $33.45.

ArcelorMittal Company 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.