FORA Capital LLC Makes New $445,000 Investment in ArcelorMittal S.A. (NYSE:MT)

FORA Capital LLC acquired a new stake in shares of ArcelorMittal S.A. (NYSE:MT) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 16,958 shares of the basic materials company’s stock, valued at approximately $445,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. increased its holdings in ArcelorMittal by 1,820.0% in the 2nd quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 1,911 shares in the last quarter. Mather Group LLC. increased its stake in shares of ArcelorMittal by 1,388.6% in the second quarter. Mather Group LLC. now owns 2,218 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 2,069 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of ArcelorMittal by 298.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock worth $54,000 after purchasing an additional 1,771 shares in the last quarter. CWM LLC raised its position in shares of ArcelorMittal by 378.2% during the 2nd 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 period. Finally, SG Americas Securities LLC purchased a new position in shares of ArcelorMittal during the 2nd quarter valued at $156,000. 9.88% of the stock is currently owned by hedge funds and other institutional investors.

ArcelorMittal Trading Up 3.1 %

Shares of MT stock opened at $25.31 on Friday. The company has a current ratio of 1.46, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $20.38 billion, a price-to-earnings ratio of -17.95, a price-to-earnings-growth ratio of 0.59 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 stock’s 50-day moving average price is $24.87 and its 200-day moving average price is $24.00.

ArcelorMittal (NYSE:MT) last released its quarterly earnings data on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.05. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%. The business had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.11 billion. During the same quarter in the previous year, the company posted $1.10 EPS. The company’s revenue was down 8.5% compared to the same quarter last year. Equities research analysts predict that ArcelorMittal S.A. will post 3.02 EPS for the current fiscal year.

Analyst Ratings Changes

MT has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered ArcelorMittal from an “overweight” rating to a “neutral” rating in a research note on Friday, October 11th. Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and increased their target price for the stock from $30.00 to $32.90 in a research report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft raised ArcelorMittal from a “hold” rating to a “buy” rating and lifted their target price for the company from $29.00 to $31.00 in a research note on Wednesday, August 28th. Finally, Barclays upgraded ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.17.

ArcelorMittal 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.