OLD Mission Capital LLC Has $23.51 Million Holdings in ArcelorMittal $MT

Key Points

• OLD Mission Capital LLC has increased its stake in ArcelorMittal by 20.1%, now owning 814,793 shares worth approximately $23.5 million.
• ArcelorMittal reported a quarterly earnings miss with an EPS of $1.32, slightly below the consensus estimate of $1.33, despite a revenue of $15.93 billion.
• Brokerage firms have mixed ratings for ArcelorMittal, with some downgrades leading to an average rating of "Hold" and a consensus target price of $33.45.

OLD Mission Capital LLC boosted its holdings in shares of ArcelorMittal (NYSE:MT - Free Report) by 20.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 814,793 shares of the basic materials company's stock after purchasing an additional 136,443 shares during the period. ArcelorMittal makes up approximately 0.3% of OLD Mission Capital LLC's holdings, making the stock its 23rd biggest position. OLD Mission Capital LLC owned about 0.10% of ArcelorMittal worth $23,507,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. SVB Wealth LLC purchased a new stake in shares of ArcelorMittal in the 1st quarter valued at approximately $43,000. Hexagon Capital Partners LLC lifted its position in shares of ArcelorMittal by 25.4% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company's stock valued at $51,000 after acquiring an additional 360 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of ArcelorMittal by 31.1% in the 1st quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company's stock valued at $55,000 after acquiring an additional 456 shares in the last quarter. Bayforest Capital Ltd lifted its position in shares of ArcelorMittal by 23.7% in the 1st quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company's stock valued at $62,000 after acquiring an additional 440 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of ArcelorMittal by 76.2% in the 4th quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company's stock valued at $113,000 after acquiring an additional 2,110 shares in the last quarter. 9.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

ArcelorMittal Stock Down 2.7%

Shares of MT traded down $0.92 during mid-day trading on Tuesday, hitting $32.45. 1,188,689 shares of the company's stock were exchanged, compared to its average volume of 1,986,012. The firm has a fifty day moving average of $32.93 and a two-hundred day moving average of $30.80. ArcelorMittal has a twelve month low of $21.59 and a twelve month high of $35.13. The stock has a market cap of $26.58 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 0.15 and a beta of 1.64. The company has a quick ratio of 0.59, a current ratio of 1.40 and a debt-to-equity ratio of 0.19.

ArcelorMittal (NYSE:MT - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $15.93 billion for the quarter, compared to analyst estimates of $15.48 billion. During the same quarter last year, the company earned $0.63 EPS. The business's revenue for the quarter was down 2.0% compared to the same quarter last year. On average, sell-side analysts forecast that ArcelorMittal will post 3.72 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.