Impala Asset Management LLC Acquires New Stake in ArcelorMittal $MT

Impala Asset Management LLC acquired a new stake in ArcelorMittal (NYSE:MT) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 158,866 shares of the basic materials company’s stock, valued at approximately $7,281,000. ArcelorMittal comprises about 4.6% of Impala Asset Management LLC’s holdings, making the stock its 7th largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Wyoming purchased a new position in ArcelorMittal in the 3rd quarter valued at $36,000. True Wealth Design LLC grew its position in ArcelorMittal by 41.4% in the 4th quarter. True Wealth Design LLC now owns 799 shares of the basic materials company’s stock valued at $36,000 after buying an additional 234 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in ArcelorMittal in the 4th quarter valued at $44,000. Geneos Wealth Management Inc. grew its position in ArcelorMittal by 44.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock valued at $47,000 after buying an additional 501 shares during the last quarter. Finally, Allworth Financial LP grew its position in ArcelorMittal by 91.5% in the 4th quarter. Allworth Financial LP now owns 1,126 shares of the basic materials company’s stock valued at $51,000 after buying an additional 538 shares during the last quarter. 9.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. KeyCorp assumed coverage on ArcelorMittal in a report on Wednesday, March 25th. They issued a “sector weight” rating for the company. Morgan Stanley reissued an “overweight” rating on shares of ArcelorMittal in a report on Tuesday, February 17th. Weiss Ratings raised ArcelorMittal from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Citigroup reissued a “buy” rating on shares of ArcelorMittal in a report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. downgraded ArcelorMittal from an “overweight” rating to an “underweight” rating in a report on Monday, March 9th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $61.07.

ArcelorMittal Price Performance

ArcelorMittal stock opened at $70.77 on Friday. ArcelorMittal has a one year low of $29.80 and a one year high of $72.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.54 and a current ratio of 1.39. The business has a fifty day moving average of $62.73 and a two-hundred day moving average of $55.73. The company has a market cap of $54.84 billion, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 0.57 and a beta of 1.53.

ArcelorMittal (NYSE:MT) last released its earnings results on Thursday, April 30th. The basic materials company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. The company had revenue of $15.46 billion during the quarter, compared to the consensus estimate of $17.04 billion. ArcelorMittal had a return on equity of 4.77% and a net margin of 4.71%.ArcelorMittal’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 earnings per share. As a group, analysts predict that ArcelorMittal will post 4.69 earnings per share for the current fiscal year.

About ArcelorMittal

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.