Headlands Technologies LLC Purchases 13,490 Shares of ArcelorMittal S.A. (NYSE:MT)

Headlands Technologies LLC raised its position in shares of ArcelorMittal S.A. (NYSE:MT) by 525.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,059 shares of the basic materials company’s stock after acquiring an additional 13,490 shares during the period. Headlands Technologies LLC’s holdings in ArcelorMittal were worth $368,000 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 the company. Principal Securities Inc. purchased a new stake in ArcelorMittal during the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC raised its position in shares of ArcelorMittal by 84.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,128 shares of the basic materials company’s stock valued at $32,000 after buying an additional 517 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of ArcelorMittal by 1,820.0% in the 2nd quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 1,911 shares during the last quarter. Mather Group LLC. grew its position in ArcelorMittal by 1,388.6% in the second quarter. Mather Group LLC. now owns 2,218 shares of the basic materials company’s stock worth $51,000 after acquiring an additional 2,069 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in ArcelorMittal by 298.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock worth $54,000 after acquiring an additional 1,771 shares in the last quarter. 9.88% of the stock is currently owned by institutional investors.

ArcelorMittal Trading Up 1.1 %

MT opened at $22.38 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.66 and a current ratio of 1.53. The stock’s 50 day moving average price is $22.55 and its 200-day moving average price is $24.61. ArcelorMittal S.A. has a one year low of $20.52 and a one year high of $29.01. The stock has a market cap of $18.02 billion, a price-to-earnings ratio of 25.15, a P/E/G ratio of 0.38 and a beta of 1.76.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data 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 6.00%. The business had revenue of $16.25 billion during the quarter, compared to the consensus estimate of $16.32 billion. During the same period last year, the company earned $2.20 EPS. The business’s revenue was down 12.7% compared to the same quarter last year. On average, equities analysts forecast that ArcelorMittal S.A. will post 3.51 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MT. Deutsche Bank Aktiengesellschaft raised ArcelorMittal from a “hold” rating to a “buy” rating and boosted their target price for the company from $29.00 to $31.00 in a research report on Wednesday, August 28th. Barclays raised shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 19th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.30.

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.