Charles Schwab Investment Management Inc. Grows Stock Holdings in ArcelorMittal $MT

Key Points

• Charles Schwab Investment Management Inc. increased its stake in ArcelorMittal (NYSE:MT) by 12.5%, making its holdings worth approximately $2.19 million.
• ArcelorMittal reported earnings of $1.32 EPS for the last quarter, which was slightly below the consensus estimate of $1.33, while revenue was $15.93 billion, exceeding expectations.
• Analyst ratings for ArcelorMittal are mixed, with three analysts giving a Buy rating and five assigning a Hold rating, leading to a consensus target price of $33.45.

Charles Schwab Investment Management Inc. boosted its position in ArcelorMittal (NYSE:MT - Free Report) by 12.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,010 shares of the basic materials company's stock after purchasing an additional 8,448 shares during the period. Charles Schwab Investment Management Inc.'s holdings in ArcelorMittal were worth $2,193,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC lifted its position in ArcelorMittal by 25.4% in the first quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company's stock valued at $51,000 after purchasing an additional 360 shares during the period. GAMMA Investing LLC lifted its position in ArcelorMittal by 31.1% in the first quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company's stock valued at $55,000 after purchasing an additional 456 shares during the period. Bayforest Capital Ltd lifted its position in ArcelorMittal by 23.7% in the first quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company's stock valued at $62,000 after purchasing an additional 440 shares during the period. BNP Paribas Financial Markets lifted its position in ArcelorMittal by 76.2% in the fourth quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company's stock valued at $113,000 after purchasing an additional 2,110 shares during the period. Finally, Vise Technologies Inc. acquired a new stake in ArcelorMittal in the fourth quarter valued at about $217,000. Institutional investors and hedge funds own 9.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MT. Wells Fargo & Company raised shares of ArcelorMittal to a "hold" rating in a report on Thursday, August 14th. Barclays cut shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a report on Wednesday, July 16th. Finally, Wall Street Zen cut shares of ArcelorMittal from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $33.45.

ArcelorMittal Price Performance

Shares of MT traded up $0.21 during mid-day trading on Wednesday, reaching $32.65. 888,451 shares of the company's stock were exchanged, compared to its average volume of 1,979,050. The company has a quick ratio of 0.59, a current ratio of 1.40 and a debt-to-equity ratio of 0.19. The company has a 50-day simple moving average of $32.96 and a two-hundred day simple moving average of $30.81. ArcelorMittal has a 52-week low of $21.59 and a 52-week high of $35.13. The company has a market cap of $26.75 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 0.15 and a beta of 1.64.

ArcelorMittal (NYSE:MT - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.32 earnings per share for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $15.48 billion. During the same period last year, the business earned $0.63 earnings per share. The company's revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts predict that ArcelorMittal will post 3.72 EPS for the current fiscal 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.