SG Americas Securities LLC Takes Position in ArcelorMittal S.A. (NYSE:MT)

SG Americas Securities LLC bought a new stake in shares of ArcelorMittal S.A. (NYSE:MT) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,824 shares of the basic materials company’s stock, valued at approximately $156,000.

Several other large investors have also recently modified their holdings of the stock. CWM LLC raised its position in shares of ArcelorMittal by 378.2% in the 2nd quarter. CWM LLC now owns 4,930 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 3,899 shares during the last quarter. Mather Group LLC. raised its position in shares of ArcelorMittal by 1,388.6% in the 2nd quarter. Mather Group LLC. now owns 2,218 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 2,069 shares during the last quarter. Trust Co. of Toledo NA OH raised its position in shares of ArcelorMittal by 5.6% in the 2nd quarter. Trust Co. of Toledo NA OH now owns 26,135 shares of the basic materials company’s stock worth $599,000 after purchasing an additional 1,395 shares during the last quarter. Bayesian Capital Management LP purchased a new position in shares of ArcelorMittal in the 1st quarter worth about $314,000. Finally, Robotti Robert purchased a new position in ArcelorMittal in the 1st quarter worth about $1,435,000. Hedge funds and other institutional investors own 9.88% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Barclays raised ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research report on Monday, August 19th. The Goldman Sachs Group assumed coverage on ArcelorMittal in a research report on Thursday, May 9th. They issued a “neutral” rating and a $29.60 target price for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on ArcelorMittal from $30.00 to $29.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $29.30.

ArcelorMittal Price Performance

NYSE MT opened at $23.33 on Friday. ArcelorMittal S.A. has a 52 week low of $20.52 and a 52 week high of $29.01. The firm has a market capitalization of $18.79 billion, a P/E ratio of 26.21, a PEG ratio of 0.34 and a beta of 1.77. The company has a quick ratio of 0.65, a current ratio of 1.55 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $22.74 and a 200-day moving average price of $25.06.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.63 EPS for the quarter, missing the consensus estimate of $1.12 by ($0.49). ArcelorMittal had a negative net margin of 0.93% and a positive return on equity of 5.94%. The business had revenue of $16.25 billion for the quarter, compared to analysts’ expectations of $16.32 billion. During the same period in the previous year, the company earned $2.20 EPS. ArcelorMittal’s revenue for the quarter was down 12.7% compared to the same quarter last year. Equities research analysts anticipate that ArcelorMittal S.A. will post 3.92 earnings per share for the current year.

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.