Truist Financial Corp purchased a new position in shares of ArcelorMittal S.A. (NYSE:MT – Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,202 shares of the basic materials company’s stock, valued at approximately $233,000.
Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in shares of ArcelorMittal in the 4th quarter valued at about $30,000. Blue Trust Inc. lifted its holdings in shares of ArcelorMittal by 336.3% in the 4th quarter. Blue Trust Inc. now owns 1,309 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 1,009 shares during the last quarter. Syon Capital LLC purchased a new stake in ArcelorMittal during the 3rd quarter valued at approximately $202,000. Knights of Columbus Asset Advisors LLC raised its stake in ArcelorMittal by 14.7% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 8,334 shares of the basic materials company’s stock valued at $237,000 after acquiring an additional 1,065 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in ArcelorMittal during the 3rd quarter valued at approximately $305,000. 9.88% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several analysts have commented on the company. StockNews.com downgraded ArcelorMittal from a “buy” rating to a “hold” rating in a research note on Monday, March 4th. The Goldman Sachs Group assumed coverage on ArcelorMittal in a research note on Thursday, May 9th. They set a “neutral” rating and a $29.60 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $31.00 price objective (down from $34.00) on shares of ArcelorMittal in a research note on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.30.
Check Out Our Latest Report on ArcelorMittal
ArcelorMittal Stock Performance
NYSE MT opened at $26.21 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 0.65 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $26.39 and its two-hundred day moving average is $26.36. ArcelorMittal S.A. has a 12-month low of $21.30 and a 12-month high of $29.15. The stock has a market capitalization of $21.11 billion, a price-to-earnings ratio of 29.45, a PEG ratio of 0.38 and a beta of 1.93.
ArcelorMittal (NYSE:MT – Get Free Report) last released its earnings results on Thursday, May 2nd. The basic materials company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.23. The company had revenue of $16.28 billion for the quarter, compared to analysts’ expectations of $16.67 billion. ArcelorMittal had a return on equity of 8.29% and a net margin of 1.15%. The firm’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.27 EPS. Research analysts expect that ArcelorMittal S.A. will post 4.17 EPS for the current year.
ArcelorMittal Announces Dividend
The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 17th will be issued a $0.213 dividend. The ex-dividend date of this dividend is Thursday, May 16th. ArcelorMittal’s dividend payout ratio is currently 48.31%.
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.
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Source: defenseworld.net
