Castle Hook Partners LP Purchases Shares of 76,971 ArcelorMittal S.A. (NYSE:MT)

Castle Hook Partners LP acquired a new stake in ArcelorMittal S.A. (NYSE:MT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 76,971 shares of the basic materials company's stock, valued at approximately $1,780,000.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its holdings in shares of ArcelorMittal by 221.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company's stock valued at $78,712,000 after buying an additional 2,344,020 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in ArcelorMittal by 146.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,535,319 shares of the basic materials company's stock valued at $35,512,000 after acquiring an additional 912,984 shares during the last quarter. ABC Arbitrage SA acquired a new stake in ArcelorMittal during the 4th quarter worth approximately $9,895,000. OLD Mission Capital LLC grew its stake in shares of ArcelorMittal by 145.8% in the 4th quarter. OLD Mission Capital LLC now owns 678,350 shares of the basic materials company's stock valued at $15,690,000 after purchasing an additional 402,402 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of ArcelorMittal by 56.7% in the fourth quarter. Bank of America Corp DE now owns 784,252 shares of the basic materials company's stock valued at $18,140,000 after purchasing an additional 283,758 shares during the period. Hedge funds and other institutional investors own 9.29% of the company's stock.

ArcelorMittal Price Performance

Shares of MT stock traded up $0.46 during trading hours on Friday, hitting $30.27. The company's stock had a trading volume of 915,536 shares, compared to its average volume of 1,856,906. The company has a current ratio of 1.35, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. ArcelorMittal S.A. has a twelve month low of $20.52 and a twelve month high of $34.90. The stock has a market cap of $24.80 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 0.14 and a beta of 1.62. The business has a fifty day moving average of $29.32 and a 200-day moving average of $26.55.

ArcelorMittal (NYSE:MT - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.33. The business had revenue of $14.80 billion for the quarter, compared to the consensus estimate of $15.11 billion. ArcelorMittal had a return on equity of 4.31% and a net margin of 2.14%. The business's revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.16 earnings per share. As a group, equities research analysts anticipate that ArcelorMittal S.A. will post 3.72 EPS for the current year.

ArcelorMittal Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Thursday, November 13th will be given a $0.275 dividend. This represents a dividend yield of 1.5%. The ex-dividend date of this dividend is Wednesday, November 12th. ArcelorMittal's dividend payout ratio is presently 30.07%.

Wall Street Analyst Weigh In

A number of brokerages have commented on MT. Morgan Stanley downgraded shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 14th. The Goldman Sachs Group upgraded ArcelorMittal from a "neutral" rating to a "buy" rating and lifted their price target for the company from $29.00 to $31.70 in a research note on Thursday, April 10th. Jefferies Financial Group lowered shares of ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 target price on the stock. in a research report on Wednesday, March 26th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of ArcelorMittal in a research note on Monday, April 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.95.

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.