GAMMA Investing LLC Grows Position in ArcelorMittal $MT

GAMMA Investing LLC grew its position in ArcelorMittal (NYSE:MT) by 26.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,426 shares of the basic materials company’s stock after purchasing an additional 506 shares during the quarter. GAMMA Investing LLC’s holdings in ArcelorMittal were worth $77,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MT. Wealth Enhancement Advisory Services LLC increased its position in shares of ArcelorMittal by 5.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 25,690 shares of the basic materials company’s stock valued at $594,000 after purchasing an additional 1,224 shares during the last quarter. QRG Capital Management Inc. grew its position in ArcelorMittal by 10.1% in the 1st quarter. QRG Capital Management Inc. now owns 64,380 shares of the basic materials company’s stock valued at $1,857,000 after acquiring an additional 5,920 shares during the last quarter. CWA Asset Management Group LLC purchased a new stake in ArcelorMittal in the first quarter worth $863,000. Hexagon Capital Partners LLC increased its position in shares of ArcelorMittal by 25.4% during the first quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company’s stock worth $51,000 after acquiring an additional 360 shares during the period. Finally, Callan Capital LLC increased its stake in shares of ArcelorMittal by 16.0% during the first quarter. Callan Capital LLC now owns 36,607 shares of the basic materials company’s stock valued at $1,056,000 after buying an additional 5,052 shares during the period. Institutional investors own 9.29% of the company’s stock.

ArcelorMittal Stock Down 0.4%

Shares of NYSE MT opened at $38.14 on Friday. The business’s 50 day moving average is $34.01 and its two-hundred day moving average is $31.59. The company has a quick ratio of 0.59, a current ratio of 1.40 and a debt-to-equity ratio of 0.19. ArcelorMittal has a 52-week low of $21.59 and a 52-week high of $38.60. The firm has a market cap of $31.24 billion, a price-to-earnings ratio of 11.77, a PEG ratio of 0.17 and a beta of 1.69.

ArcelorMittal (NYSE:MT) last announced its earnings results on Thursday, July 31st. The basic materials company reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.01). ArcelorMittal had a return on equity of 4.99% and a net margin of 4.11%.The business had revenue of $15.93 billion for the quarter, compared to analysts’ expectations of $15.48 billion. During the same period in the previous year, the company earned $0.63 earnings per share. ArcelorMittal’s quarterly revenue was down 2.0% on a year-over-year basis. Research analysts predict that ArcelorMittal will post 3.72 EPS for the current year.

Wall Street Analyst Weigh In

MT has been the subject of several recent analyst reports. Wall Street Zen lowered shares of ArcelorMittal from a “buy” rating to a “hold” rating in a research note on Sunday, September 21st. Wells Fargo & Company raised shares of ArcelorMittal to a “hold” rating in a report on Thursday, August 14th. Finally, Barclays lowered shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Wednesday, July 16th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $33.45.

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.