Signaturefd LLC Buys 2,199 Shares of ArcelorMittal S.A. (NYSE:MT)

Signaturefd LLC raised its holdings in shares of ArcelorMittal S.A. (NYSE:MT) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,011 shares of the basic materials company’s stock after purchasing an additional 2,199 shares during the quarter. Signaturefd LLC’s holdings in ArcelorMittal were worth $788,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of MT. Blue Trust Inc. lifted its position in ArcelorMittal by 1,820.0% during the second quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 1,911 shares during the last quarter. Mather Group LLC. lifted its position in ArcelorMittal by 1,388.6% during the second quarter. Mather Group LLC. now owns 2,218 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 2,069 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in ArcelorMittal by 298.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock valued at $54,000 after purchasing an additional 1,771 shares during the last quarter. Headlands Technologies LLC bought a new position in ArcelorMittal during the first quarter valued at $71,000. Finally, CWM LLC lifted its position in ArcelorMittal by 378.2% during the second quarter. CWM LLC now owns 4,930 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 3,899 shares during the last quarter. Institutional investors own 9.88% of the company’s stock.

ArcelorMittal Trading Up 1.3 %

MT stock opened at $23.83 on Friday. The company has a market capitalization of $19.19 billion, a PE ratio of 26.77, a P/E/G ratio of 0.53 and a beta of 1.77. ArcelorMittal S.A. has a 12 month low of $20.52 and a 12 month high of $29.01. The firm’s 50-day moving average is $23.80 and its 200 day moving average is $24.17. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.53 and a quick ratio of 0.66.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.49). ArcelorMittal had a positive return on equity of 6.00% and a negative net margin of 0.93%. The company had revenue of $16.25 billion during the quarter, compared to analysts’ expectations of $16.32 billion. During the same period in the prior year, the business earned $2.20 EPS. The company’s quarterly revenue was down 12.7% on a year-over-year basis. On average, research analysts anticipate that ArcelorMittal S.A. will post 3 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of ArcelorMittal from a “hold” rating to a “buy” rating and increased their target price for the company from $29.00 to $31.00 in a research note on Wednesday, August 28th. Barclays raised shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 19th. Finally, JPMorgan Chase & Co. downgraded shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research note on Friday, October 11th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, ArcelorMittal presently has an average rating of “Hold” and a consensus price target of $30.30.

About ArcelorMittal

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.