Cubist Systematic Strategies LLC Acquires Shares of 182,411 ArcelorMittal $MT

Key Points

• Cubist Systematic Strategies LLC acquired 182,411 shares of ArcelorMittal during the first quarter, valued at approximately $5.26 million, as reported in their Form 13F filing with the SEC.
• ArcelorMittal's stock has been rated as a "Hold" by several research firms; currently, three analysts rate it as a Buy, whereas five have given a Hold rating, with a consensus target price of $33.45.
• The company reported a quarterly earnings per share (EPS) of $1.32, missing the analysts' expectations, with a revenue of $15.93 billion, reflecting a 2.0% year-over-year decline.

Cubist Systematic Strategies LLC acquired a new stake in ArcelorMittal (NYSE:MT - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 182,411 shares of the basic materials company's stock, valued at approximately $5,263,000.

Other hedge funds also recently added to or reduced their stakes in the company. SVB Wealth LLC purchased a new position in ArcelorMittal in the first quarter valued at about $43,000. Hexagon Capital Partners LLC raised 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 raised 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 raised 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. Finally, Brooklyn Investment Group raised its position in ArcelorMittal by 143,333.3% in the first quarter. Brooklyn Investment Group now owns 4,303 shares of the basic materials company's stock valued at $124,000 after purchasing an additional 4,300 shares during the period. 9.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

ArcelorMittal Stock Up 0.8%

NYSE:MT opened at $32.72 on Thursday. The company has a market capitalization of $26.80 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 0.15 and a beta of 1.64. ArcelorMittal has a one year low of $21.59 and a one year high of $35.13. The stock has a 50-day simple moving average of $32.99 and a 200 day simple moving average of $30.82. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.59 and a current ratio of 1.40.

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

About ArcelorMittal

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.

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