Sanctuary Advisors LLC Buys Shares of 21,008 ArcelorMittal S.A. (NYSE:MT)

Sanctuary Advisors LLC purchased a new position in shares of ArcelorMittal S.A. (NYSE:MT) in the second quarter, Holdings Channel.com reports. The fund purchased 21,008 shares of the basic materials company’s stock, valued at approximately $533,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MT. BNP Paribas Financial Markets purchased a new stake in ArcelorMittal in the 1st quarter valued at about $2,705,000. Goldman Sachs Group Inc. increased its position in shares of ArcelorMittal by 8.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 839,485 shares of the basic materials company’s stock valued at $23,833,000 after acquiring an additional 66,813 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of ArcelorMittal by 61.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 85,710 shares of the basic materials company’s stock valued at $1,965,000 after acquiring an additional 32,469 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of ArcelorMittal by 24.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,115 shares of the basic materials company’s stock worth $117,000 after acquiring an additional 818 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of ArcelorMittal by 1,820.0% during the 2nd quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 1,911 shares during the period. Institutional investors and hedge funds own 9.88% of the company’s stock.

ArcelorMittal Price Performance

ArcelorMittal stock opened at $23.79 on Wednesday. The company has a quick ratio of 0.66, a current ratio of 1.53 and a debt-to-equity ratio of 0.16. ArcelorMittal S.A. has a 52-week low of $20.52 and a 52-week high of $29.01. The firm has a market cap of $19.15 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 0.53 and a beta of 1.77. The company’s 50 day moving average is $23.54 and its two-hundred day moving average is $24.32.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.63 earnings per share (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 company had revenue of $16.25 billion during the quarter, compared to analyst estimates of $16.32 billion. During the same quarter in the previous year, the business posted $2.20 earnings per share. The firm’s revenue was down 12.7% on a year-over-year basis. On average, research analysts expect that ArcelorMittal S.A. will post 3 EPS for the current fiscal year.

Analyst Ratings Changes

MT has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered ArcelorMittal from an “overweight” rating to a “neutral” rating in a research report on Friday, October 11th. Barclays upgraded ArcelorMittal from an “equal weight” rating to an “overweight” rating in a report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft upgraded ArcelorMittal from a “hold” rating to a “buy” rating and raised their target price for the company from $29.00 to $31.00 in a report on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.30.

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.