PNC Financial Services Group Inc. lowered its holdings in shares of ArcelorMittal (NYSE:MT) by 56.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,352 shares of the basic materials company’s stock after selling 43,122 shares during the period. PNC Financial Services Group Inc.’s holdings in ArcelorMittal were worth $758,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of MT. Integrated Investment Consultants LLC acquired a new stake in ArcelorMittal during the 2nd quarter worth $111,000. Jacobi Capital Management LLC acquired a new stake in ArcelorMittal during the 1st quarter worth $127,000. US Bancorp DE boosted its stake in ArcelorMittal by 14.2% during the 1st quarter. US Bancorp DE now owns 15,540 shares of the basic materials company’s stock worth $129,000 after purchasing an additional 1,934 shares during the period. MAVEN SECURITIES Ltd acquired a new stake in ArcelorMittal during the 1st quarter worth $139,000. Finally, Two Sigma Securities LLC acquired a new stake in ArcelorMittal during the 1st quarter worth $196,000. Hedge funds and other institutional investors own 3.60% of the company’s stock.
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Shares of ArcelorMittal (NYSE MT) opened at 26.47 on Thursday. The firm has a market cap of $27.00 billion, a PE ratio of 8.33 and a beta of 2.10. ArcelorMittal has a 52 week low of $18.24 and a 52 week high of $28.11. The company has a 50 day moving average of $26.47 and a 200 day moving average of $24.31.
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, topping the consensus estimate of $0.78 by $0.55. The business had revenue of $17.24 billion during the quarter, compared to the consensus estimate of $16.88 billion. ArcelorMittal had a net margin of 5.50% and a return on equity of 10.52%. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 earnings per share. On average, equities research analysts anticipate that ArcelorMittal will post $3.14 EPS for the current fiscal year.
A number of brokerages recently weighed in on MT. Cowen and Company reiterated a “buy” rating and set a $32.00 price target on shares of ArcelorMittal in a research note on Wednesday, July 19th. BidaskClub upgraded shares of ArcelorMittal from a “sell” rating to a “hold” rating in a research note on Saturday, June 24th. ValuEngine cut shares of ArcelorMittal from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 26th. Jefferies Group LLC reiterated a “buy” rating on shares of ArcelorMittal in a research note on Friday, June 30th. Finally, Zacks Investment Research cut shares of ArcelorMittal from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. ArcelorMittal currently has an average rating of “Buy” and a consensus target price of $30.77.
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.
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