Sivia Capital Partners LLC Buys Shares of 9,942 ArcelorMittal $MT

Sivia Capital Partners LLC bought a new stake in ArcelorMittal (NYSE:MT) during the fourth quarter, HoldingsChannel.com reports. The fund bought 9,942 shares of the basic materials company’s stock, valued at approximately $453,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MT. State of Wyoming purchased a new position in ArcelorMittal in the 3rd quarter valued at about $36,000. True Wealth Design LLC lifted its holdings in ArcelorMittal by 41.4% in the 4th quarter. True Wealth Design LLC now owns 799 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 234 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in ArcelorMittal by 44.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 501 shares in the last quarter. Allworth Financial LP lifted its holdings in ArcelorMittal by 91.5% in the 4th quarter. Allworth Financial LP now owns 1,126 shares of the basic materials company’s stock valued at $51,000 after purchasing an additional 538 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in ArcelorMittal by 268.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,422 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 1,765 shares in the last quarter. 9.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MT has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of ArcelorMittal from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, May 4th. Morgan Stanley restated an “overweight” rating on shares of ArcelorMittal in a report on Tuesday, February 17th. Wells Fargo & Company upped their target price on shares of ArcelorMittal from $60.00 to $61.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. Jefferies Financial Group upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and upped their target price for the company from $51.10 to $73.20 in a report on Wednesday, February 11th. Finally, KeyCorp assumed coverage on shares of ArcelorMittal in a report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $61.07.

ArcelorMittal Stock Down 6.3%

MT opened at $67.11 on Friday. The firm has a 50 day moving average price of $61.09 and a 200 day moving average price of $54.76. The company has a market cap of $52.01 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 0.58 and a beta of 1.53. ArcelorMittal has a 1 year low of $29.80 and a 1 year high of $72.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.54 and a current ratio of 1.39.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, April 30th. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. The firm had revenue of $15.46 billion during the quarter, compared to the consensus estimate of $17.04 billion. ArcelorMittal had a net margin of 4.71% and a return on equity of 4.77%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 EPS. Sell-side analysts expect that ArcelorMittal will post 4.69 earnings per share for the current year.

About ArcelorMittal

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.