Caption Management LLC Makes New $288,000 Investment in ArcelorMittal $MT

Key Points

• Caption Management LLC has acquired 10,000 shares of ArcelorMittal, valued at approximately $288,000, as per their recent SEC filing.
• Research ratings for ArcelorMittal have recently shifted, with Wall Street Zen downgrading the stock from a "buy" to a "hold" rating, while Wells Fargo upgraded it to "hold".
• ArcelorMittal reported $1.32 EPS for the last quarter, slightly missing analysts' expectations, and generated revenues of $15.93 billion, exceeding anticipations of $15.48 billion.

Caption Management LLC acquired a new stake in shares of ArcelorMittal (NYSE:MT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,000 shares of the basic materials company's stock, valued at approximately $288,000.

Several other hedge funds have also recently modified their holdings of MT. Telemark Asset Management LLC acquired a new position in shares of ArcelorMittal during the first quarter valued at about $11,540,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of ArcelorMittal by 22.0% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,872,477 shares of the basic materials company's stock valued at $54,021,000 after acquiring an additional 337,158 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of ArcelorMittal by 56.7% during 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 acquiring an additional 283,758 shares in the last quarter. Northern Trust Corp increased its holdings in ArcelorMittal by 31.7% in the 4th quarter. Northern Trust Corp now owns 1,153,924 shares of the basic materials company's stock worth $26,690,000 after buying an additional 277,891 shares during the period. Finally, Auto Owners Insurance Co acquired a new position in ArcelorMittal in the 1st quarter worth approximately $3,940,000. Institutional investors and hedge funds own 9.29% of the company's stock.

ArcelorMittal Stock Performance

ArcelorMittal stock traded up $0.99 during mid-day trading on Friday, hitting $34.22. The company had a trading volume of 2,649,720 shares, compared to its average volume of 1,463,323. The company has a current ratio of 1.40, a quick ratio of 0.59 and a debt-to-equity ratio of 0.19. ArcelorMittal has a 12-month low of $21.59 and a 12-month high of $35.13. The company's fifty day moving average is $33.08 and its 200-day moving average is $30.89. The company has a market capitalization of $28.04 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 0.15 and a beta of 1.64.

ArcelorMittal (NYSE:MT - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.32 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.01). ArcelorMittal had a return on equity of 4.99% and a net margin of 4.11%.The company had revenue of $15.93 billion during the quarter, compared to analysts' expectations of $15.48 billion. During the same quarter in the prior year, the company posted $0.63 EPS. The company's revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts predict that ArcelorMittal will post 3.72 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MT shares. Barclays downgraded shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a report on Wednesday, July 16th. Wall Street Zen downgraded shares of ArcelorMittal from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, Wells Fargo & Company upgraded shares of ArcelorMittal to a "hold" rating in a report on Thursday, August 14th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, ArcelorMittal currently has an average rating of "Hold" and an average price target of $33.45.

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.