Capital Innovations LLC Has $383,000 Holdings in ArcelorMittal (MT)

Capital Innovations LLC lessened its stake in ArcelorMittal (NYSE:MT) by 66.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,864 shares of the basic materials company’s stock after selling 33,731 shares during the period. Capital Innovations LLC’s holdings in ArcelorMittal were worth $383,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC bought a new stake in shares of ArcelorMittal in the 2nd quarter valued at about $111,000. Quadrant Capital Group LLC grew its position in shares of ArcelorMittal by 24.9% in the 2nd quarter. Quadrant Capital Group LLC now owns 7,412 shares of the basic materials company’s stock valued at $157,000 after buying an additional 1,479 shares during the last quarter. Sawtooth Solutions LLC bought a new stake in shares of ArcelorMittal in the 2nd quarter valued at about $206,000. Advisor Group Inc. grew its position in shares of ArcelorMittal by 160.6% in the 2nd quarter. Advisor Group Inc. now owns 10,147 shares of the basic materials company’s stock valued at $230,000 after buying an additional 6,253 shares during the last quarter. Finally, Stifel Financial Corp bought a new stake in shares of ArcelorMittal in the 2nd quarter valued at about $237,000. Hedge funds and other institutional investors own 3.60% of the company’s stock.

ArcelorMittal (MT) traded down 0.38% on Tuesday, reaching $26.17. The company had a trading volume of 1,390,027 shares. The company’s 50 day moving average is $26.46 and its 200-day moving average is $24.28. ArcelorMittal has a one year low of $18.24 and a one year high of $28.11. The firm has a market capitalization of $26.69 billion, a price-to-earnings ratio of 8.23 and a beta of 2.10.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, July 27th. The basic materials company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.55. The business had revenue of $17.24 billion for the quarter, compared to analysts’ expectations of $16.88 billion. ArcelorMittal had a return on equity of 10.52% and a net margin of 5.50%. The business’s revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 EPS. On average, equities research analysts expect that ArcelorMittal will post $3.14 earnings per share for the current fiscal year.

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MT has been the topic of a number of analyst reports. Deutsche Bank AG upgraded ArcelorMittal from a “hold” rating to a “buy” rating and upped their price target for the company from $25.00 to $32.00 in a research report on Wednesday, July 12th. BidaskClub upgraded ArcelorMittal from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Cowen and Company restated a “buy” rating and set a $32.00 target price on shares of ArcelorMittal in a research report on Wednesday, July 19th. Zacks Investment Research lowered ArcelorMittal from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, ING Group upgraded ArcelorMittal from a “hold” rating to a “buy” rating in a research report on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $30.77.

ArcelorMittal Company Profile

ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

Institutional Ownership by Quarter for ArcelorMittal (NYSE:MT)

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