Carrera Capital Advisors Makes New Investment in ArcelorMittal $MT

Key Points

• Carrera Capital Advisors bought a new position in ArcelorMittal (NYSE:MT) of 102,544 shares valued at about $4.67 million, representing roughly 0.8% of its portfolio and the firm's 28th largest holding.
• ArcelorMittal beat quarterly EPS estimates—$0.86 vs. $0.56 consensus—with revenue of $14.97 billion (up 1.7% YoY) that was slightly below forecasts; analysts’ consensus rating is "Hold" with an average target of $60.73.
• Shares trade near $57.87 with a market cap of $44.85 billion and a PE of 14.11, and the company announced a quarterly dividend of $0.15 ($0.60 annualized, ~1.0% yield).

Carrera Capital Advisors bought a new position in ArcelorMittal (NYSE:MT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 102,544 shares of the basic materials company's stock, valued at approximately $4,673,000. ArcelorMittal makes up about 0.8% of Carrera Capital Advisors' investment portfolio, making the stock its 28th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of MT. AQR Capital Management LLC increased its holdings in ArcelorMittal by 75.0% in the 1st quarter. AQR Capital Management LLC now owns 34,038 shares of the basic materials company's stock worth $982,000 after purchasing an additional 14,593 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in ArcelorMittal by 44.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company's stock worth $47,000 after purchasing an additional 501 shares in the last quarter. Cetera Investment Advisers acquired a new position in ArcelorMittal in the 2nd quarter worth about $232,000. Russell Investments Group Ltd. increased its holdings in ArcelorMittal by 9.4% in the 2nd quarter. Russell Investments Group Ltd. now owns 37,029 shares of the basic materials company's stock worth $1,169,000 after purchasing an additional 3,171 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in ArcelorMittal by 268.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,422 shares of the basic materials company's stock worth $76,000 after purchasing an additional 1,765 shares in the last quarter. Institutional investors and hedge funds own 9.29% of the company's stock.

ArcelorMittal Trading Down 2.0%

NYSE MT opened at $57.87 on Wednesday. The business's 50-day moving average price is $57.65 and its two-hundred day moving average price is $50.15. ArcelorMittal has a 12 month low of $28.01 and a 12 month high of $67.60. The firm has a market capitalization of $44.85 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 0.51 and a beta of 1.49. The company has a current ratio of 1.36, a quick ratio of 0.53 and a debt-to-equity ratio of 0.19.

ArcelorMittal (NYSE:MT - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The basic materials company reported $0.86 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.30. ArcelorMittal had a return on equity of 5.27% and a net margin of 5.14%.The firm had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.56 billion. During the same quarter in the previous year, the company posted $0.52 EPS. The business's revenue was up 1.7% on a year-over-year basis. On average, analysts expect that ArcelorMittal will post 4.51 EPS for the current year.

ArcelorMittal Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Friday, November 13th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, November 13th. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. ArcelorMittal's dividend payout ratio is presently 12.44%.

Analyst Ratings Changes

A number of brokerages have issued reports on MT. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of ArcelorMittal in a report on Friday, February 6th. JPMorgan Chase & Co. lowered ArcelorMittal from an "overweight" rating to an "underweight" rating in a research report on Monday, March 9th. Oddo Bhf upgraded ArcelorMittal from a "neutral" rating to an "outperform" rating in a research report on Wednesday, January 14th. Wells Fargo & Company reiterated a "positive" rating and issued a $60.00 price target (up from $54.00) on shares of ArcelorMittal in a research report on Wednesday, April 15th. Finally, Santander lowered ArcelorMittal from an "outperform" rating to a "neutral" rating in a research report on Tuesday, April 21st. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $60.73.

ArcelorMittal Company Profile

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world's largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal's operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.

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