Robotti Robert Buys New Stake in ArcelorMittal S.A. (NYSE:MT)

Robotti Robert bought a new stake in ArcelorMittal S.A. (NYSE:MT) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 52,025 shares of the basic materials company’s stock, valued at approximately $1,435,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Maple Rock Capital Partners Inc. purchased a new position in ArcelorMittal during the first quarter worth $36,406,000. MMCAP International Inc. SPC raised its holdings in shares of ArcelorMittal by 103.4% in the first quarter. MMCAP International Inc. SPC now owns 650,820 shares of the basic materials company’s stock valued at $17,950,000 after acquiring an additional 330,820 shares in the last quarter. Crestline Management LP bought a new position in ArcelorMittal in the fourth quarter worth about $2,839,000. BNP Paribas Financial Markets bought a new position in ArcelorMittal in the first quarter worth about $2,705,000. Finally, Goldman Sachs Group Inc. raised its holdings in ArcelorMittal by 8.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 839,485 shares of the basic materials company’s stock worth $23,833,000 after purchasing an additional 66,813 shares in the last quarter. 9.88% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. 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 target on the stock. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $31.00 target price (down previously from $34.00) on shares of ArcelorMittal in a research report on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $30.30.

ArcelorMittal Stock Down 0.5 %

MT stock traded down $0.11 during mid-day trading on Monday, reaching $22.61. The company had a trading volume of 1,762,704 shares, compared to its average volume of 1,584,256. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.65 and a current ratio of 1.55. The company has a market capitalization of $18.20 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 0.36 and a beta of 1.77. The firm has a fifty day simple moving average of $24.03 and a 200 day simple moving average of $25.70. ArcelorMittal S.A. has a fifty-two week low of $21.30 and a fifty-two week high of $29.15.

ArcelorMittal (NYSE:MT) last issued its earnings results on Thursday, May 2nd. The basic materials company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.23. ArcelorMittal had a return on equity of 8.29% and a net margin of 1.15%. The business had revenue of $16.28 billion for the quarter, compared to analyst estimates of $16.67 billion. During the same quarter last year, the company earned $1.27 EPS. The business’s quarterly revenue was down 12.0% on a year-over-year basis. Analysts forecast that ArcelorMittal S.A. will post 3.92 earnings per share for the current fiscal year.

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.