SPX Equities Gestao de Recursos Ltda Purchases New Stake in ArcelorMittal SA (MT)

SPX Equities Gestao de Recursos Ltda purchased a new position in shares of ArcelorMittal SA (NYSE:MT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 93,750 shares of the basic materials company’s stock, valued at approximately $2,893,125,000,000. ArcelorMittal comprises approximately 1.1% of SPX Equities Gestao de Recursos Ltda’s investment portfolio, making the stock its 21st largest holding.

Several other hedge funds also recently modified their holdings of MT. Marshall Wace LLP bought a new position in shares of ArcelorMittal during the second quarter worth about $13,949,000. Standard Life Aberdeen plc bought a new position in shares of ArcelorMittal during the second quarter worth about $13,311,000. Renaissance Technologies LLC lifted its position in shares of ArcelorMittal by 92.2% during the second quarter. Renaissance Technologies LLC now owns 820,401 shares of the basic materials company’s stock worth $23,815,000 after purchasing an additional 393,607 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of ArcelorMittal by 77.4% during the third quarter. JPMorgan Chase & Co. now owns 891,090 shares of the basic materials company’s stock worth $27,498,000 after purchasing an additional 388,896 shares during the last quarter. Finally, Millennium Management LLC bought a new position in shares of ArcelorMittal during the second quarter worth about $6,266,000. 3.35% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE MT opened at $25.36 on Monday. The company has a current ratio of 1.38, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21. ArcelorMittal SA has a 52-week low of $23.80 and a 52-week high of $37.50. The stock has a market capitalization of $25.87 billion, a price-to-earnings ratio of 4.75, a price-to-earnings-growth ratio of 2.66 and a beta of 2.28.

ArcelorMittal (NYSE:MT) last issued its earnings results on Thursday, November 1st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.11). ArcelorMittal had a return on equity of 12.59% and a net margin of 6.62%. The business had revenue of $18.52 billion during the quarter, compared to the consensus estimate of $19.33 billion. During the same period in the prior year, the business earned $1.18 EPS. The business’s revenue was up 5.0% on a year-over-year basis. As a group, analysts anticipate that ArcelorMittal SA will post 5.18 EPS for the current fiscal year.

Several brokerages have recently commented on MT. Credit Suisse Group reaffirmed a “buy” rating on shares of ArcelorMittal in a research report on Wednesday, August 8th. ValuEngine raised shares of ArcelorMittal from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. UBS Group raised shares of ArcelorMittal from a “sell” rating to a “neutral” rating in a report on Friday. Zacks Investment Research raised shares of ArcelorMittal from a “hold” rating to a “strong-buy” rating and set a $35.00 target price on the stock in a report on Wednesday, September 5th. Finally, Deutsche Bank reissued a “buy” rating on shares of ArcelorMittal in a report on Tuesday, November 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $37.00.

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ArcelorMittal Company Profile

ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through NAFTA, Brazil, Europe, ACIS, and Mining segments. The company produces finished and semi-finished steel products with various specifications.

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Institutional Ownership by Quarter for ArcelorMittal (NYSE:MT)

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