Bayforest Capital Ltd Raises Position in ArcelorMittal $MT

Bayforest Capital Ltd raised its stake in ArcelorMittal (NYSE:MT) by 23.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 2,298 shares of the basic materials company’s stock after buying an additional 440 shares during the quarter. Bayforest Capital Ltd’s holdings in ArcelorMittal were worth $66,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SVB Wealth LLC purchased a new stake in shares of ArcelorMittal in the first quarter worth approximately $43,000. Hexagon Capital Partners LLC raised its stake in shares of ArcelorMittal by 25.4% in the first quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 360 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of ArcelorMittal by 31.1% in the first quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 456 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of ArcelorMittal by 76.2% in the fourth quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 2,110 shares during the last quarter. Finally, Brooklyn Investment Group raised its stake in shares of ArcelorMittal by 143,333.3% in the first quarter. Brooklyn Investment Group now owns 4,303 shares of the basic materials company’s stock worth $124,000 after purchasing an additional 4,300 shares during the last quarter. 9.29% of the stock is owned by hedge funds and other institutional investors.

ArcelorMittal Stock Performance

NYSE:MT opened at $34.75 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.40 and a quick ratio of 0.59. The business has a fifty day simple moving average of $33.30 and a two-hundred day simple moving average of $31.12. ArcelorMittal has a 1 year low of $21.59 and a 1 year high of $35.13. The company has a market capitalization of $28.47 billion, a P/E ratio of 10.73, a P/E/G ratio of 0.16 and a beta of 1.64.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MT shares. Wall Street Zen raised ArcelorMittal from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company raised ArcelorMittal to a “hold” rating in a research report on Thursday, August 14th. Finally, Barclays downgraded ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 16th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $33.45.

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.