According to Citigroup Inc.’s most recent Form 13F filing with the Securities and Exchange Commission (SEC), the company increased its position of ArcelorMittal S.A. shares by 38.2% during the third quarter of 2018. The institutional investor now owned 12,356 shares of the basic materials company’s stock after purchasing 3,413 additional shares during that period. As of the end of the latest quarter, Citigroup Inc.’s ArcelorMittal holdings were valued at $309,000.
Substantial Increases and Decreases in Institutional Shareholders’ Stakes in ArcelorMittal Are Noted
Recently, a number of other institutional investors and hedge funds have increased or decreased their holdings in MT. During the first quarter, Arrowstreet Capital Limited Partnership added 1,300.7% to its ArcelorMittal share holdings. After purchasing another 4,967,981 shares in the most recent quarter, Arrowstreet Capital Limited Partnership currently holds 5,349,935 shares of the basic materials company’s stock, valued at $171,251,000. BlackRock Inc. raised its ArcelorMittal stock holdings by 96.3 percent during the first quarter. After purchasing an additional 1,818,361 shares in the most recent quarter, BlackRock Inc. now owns 3,706,360 shares of the basic materials company’s stock, valued at $118,642,000.
Increasing Interest from Institutional Investors: Marshall Wace, Morgan Stanley, and Renaissance Technologies Boost Holdings in ArcelorMittal
In the first quarter, Renaissance Technologies LLC acquired a new stake in ArcelorMittal shares for $54,502,000. In the third quarter, Morgan Stanley added 111.6% more shares of ArcelorMittal to its portfolio. After purchasing an additional 1,601,336 shares in the most recent quarter, Morgan Stanley now owns 3,036,238 shares of the basic materials company’s stock, valued at $75,997,000. Lastly, in the second quarter, Marshall Wace LLP added 317.3% to its portfolio of ArcelorMittal shares. With the acquisition of 1,349,018 shares in the most recent quarter, Marshall Wace LLP now owns 1,774,156 shares of the basic materials company’s stock, valued at $48,505,000. 9.88% of the company’s shares are owned by institutional investors.
ArcelorMittal: Down 0.3% in Trading
ArcelorMittal’s stock began trading on Wednesday at $27.01. The market valuation of the stock is $21.75 billion, with a beta of 1.92, a PE ratio of 27.01, and a P/E/G ratio of 0.34. With a one-year low of $21.30 and a one-year high of $30.36, ArcelorMittal S.A. The present value of the company is $26.64 on the fifty-day moving average and $25.65 on the 200-day moving average. The company’s debt-to-equity ratio is 0.15, its quick ratio is 0.67, and its current ratio is 1.53.
On Thursday, February 8th, ArcelorMittal released its most recent quarterly earnings information. The fundamental components of the company missed analysts’ consensus projections of ($2.08) by ($1.49) in earnings per share (EPS) for the quarter, reporting ($3.57).
ArcelorMittal had a net margin of 1.35% and an 8.55% return on equity. In contrast to the consensus forecast of $16.39 billion, the company’s revenue for the quarter was $14.55 billion. The company reported $1.37 profits per share during the same quarter last year. Comparing the company’s revenue for the quarter to the previous year, it decreased by 13.8%. Analysts predict that for the current fiscal year, ArcelorMittal S.A. will report 4.59 EPS.
Wall Street Experts Project Increase
Reports on MT shares have been released by several analysts. On Monday, March 4th, StockNews.com lowered ArcelorMittal’s shares from a “buy” rating to a “hold” rating in a research note. On Tuesday, December 12th, JPMorgan Chase & Co. upgraded its recommendation for ArcelorMittal shares from “neutral” to “overweight” in a research note. Two analysts have given the stock a buy rating, and three have given it a hold rating. The general rating for the company is currently “Hold,” according to data from MarketBeat.com.
Concerning ArcelorMittal
In the US, Europe, and other regions, ArcelorMittal SA and its subsidiaries conduct business as integrated steel and mining firms. Slabs and other semi-finished flat products; 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; bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes are among its offerings.
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