Integrated Quantitative Investments LLC Has $2.05 Million Stake in ArcelorMittal $MT

Integrated Quantitative Investments LLC grew its position in ArcelorMittal (NYSE:MT) by 13.8% during the second quarter, HoldingsChannel reports. The firm owned 65,000 shares of the basic materials company’s stock after buying an additional 7,900 shares during the period. ArcelorMittal comprises approximately 0.6% of Integrated Quantitative Investments LLC’s portfolio, making the stock its 21st largest holding. Integrated Quantitative Investments LLC’s holdings in ArcelorMittal were worth $2,053,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in ArcelorMittal by 22.0% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,872,477 shares of the basic materials company’s stock valued at $54,021,000 after acquiring an additional 337,158 shares during the last quarter. OLD Mission Capital LLC lifted its stake in shares of ArcelorMittal by 20.1% in the 1st quarter. OLD Mission Capital LLC now owns 814,793 shares of the basic materials company’s stock valued at $23,507,000 after purchasing an additional 136,443 shares during the period. ABC Arbitrage SA boosted its position in shares of ArcelorMittal by 31.0% during the 1st quarter. ABC Arbitrage SA now owns 560,329 shares of the basic materials company’s stock valued at $16,165,000 after purchasing an additional 132,535 shares in the last quarter. Telemark Asset Management LLC acquired a new stake in ArcelorMittal during the first quarter worth approximately $11,540,000. Finally, American Century Companies Inc. increased its holdings in ArcelorMittal by 0.5% in the first quarter. American Century Companies Inc. now owns 282,224 shares of the basic materials company’s stock worth $8,142,000 after purchasing an additional 1,386 shares in the last quarter. Institutional investors own 9.29% of the company’s stock.

ArcelorMittal Stock Performance

MT opened at $39.46 on Friday. The company has a market cap of $32.33 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 0.17 and a beta of 1.72. The company’s fifty day moving average price is $37.59 and its two-hundred day moving average price is $33.91. ArcelorMittal has a 1-year low of $21.59 and a 1-year high of $41.28. The company has a current ratio of 1.40, a quick ratio of 0.59 and a debt-to-equity ratio of 0.19.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, November 6th. The basic materials company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.58 by $0.04. ArcelorMittal had a net margin of 4.11% and a return on equity of 4.99%. The company had revenue of $15.66 billion during the quarter, compared to the consensus estimate of $15.88 billion. During the same period in the previous year, the firm posted $0.63 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts expect that ArcelorMittal will post 3.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MT has been the topic of a number of research analyst reports. Citigroup restated a “buy” rating on shares of ArcelorMittal in a report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c)” rating on shares of ArcelorMittal in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised shares of ArcelorMittal from a “neutral” rating to an “overweight” rating in a research note on Friday, November 7th. Wall Street Zen lowered shares of ArcelorMittal from a “buy” rating to a “hold” rating in a report on Saturday, October 11th. Finally, Wells Fargo & Company restated a “cautious” rating and issued a $39.00 target price (up from $33.00) on shares of ArcelorMittal in a research note on Thursday, October 23rd. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $35.63.

ArcelorMittal Company 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.