Darwin Wealth Management LLC Purchases Shares of 24,706 ArcelorMittal $MT

Key Points

• Darwin Wealth Management purchased a new stake of 24,706 shares of ArcelorMittal (NYSE:MT) in Q4, valued at approximately $1.126 million.
• ArcelorMittal shares were trading up 11.6% at $60.04 with a market cap of $46.53 billion; the company reported quarterly EPS of $0.86 vs. $0.56 consensus while revenue of $14.97 billion slightly missed estimates.
• Analysts are mixed—consensus rating is Hold with an average price target of $51.98 (6 Buy, 6 Hold, 1 Sell)—and the company announced a quarterly dividend of $0.15 (annualized $0.60, ~1.0% yield).

Darwin Wealth Management LLC purchased a new stake in shares of ArcelorMittal (NYSE:MT - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 24,706 shares of the basic materials company's stock, valued at approximately $1,126,000.

A number of other hedge funds have also added to or reduced their stakes in MT. True Wealth Design LLC raised its holdings in shares of ArcelorMittal by 41.4% in the 4th quarter. True Wealth Design LLC now owns 799 shares of the basic materials company's stock worth $36,000 after purchasing an additional 234 shares during the period. Merit Financial Group LLC raised its holdings in shares of ArcelorMittal by 3.1% in the 3rd quarter. Merit Financial Group LLC now owns 9,453 shares of the basic materials company's stock worth $342,000 after purchasing an additional 283 shares during the period. GK Wealth Management LLC raised its holdings in ArcelorMittal by 4.1% during the 3rd quarter. GK Wealth Management LLC now owns 7,129 shares of the basic materials company's stock valued at $258,000 after acquiring an additional 284 shares during the period. GAMMA Investing LLC raised its holdings in ArcelorMittal by 13.3% during the 3rd quarter. GAMMA Investing LLC now owns 2,749 shares of the basic materials company's stock valued at $99,000 after acquiring an additional 323 shares during the period. Finally, CWM LLC raised its holdings in ArcelorMittal by 23.3% during the 3rd quarter. CWM LLC now owns 1,826 shares of the basic materials company's stock valued at $66,000 after acquiring an additional 345 shares during the period. Institutional investors and hedge funds own 9.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MT. Morgan Stanley reissued an "overweight" rating on shares of ArcelorMittal in a report on Tuesday, February 17th. Wells Fargo & Company boosted their target price on shares of ArcelorMittal from $47.00 to $54.00 and gave the company an "equal weight" rating in a report on Friday, February 6th. Jefferies Financial Group raised shares of ArcelorMittal from a "hold" rating to a "buy" rating and boosted their target price for the company from $51.10 to $73.20 in a report on Wednesday, February 11th. KeyCorp began coverage on shares of ArcelorMittal in a report on Wednesday, March 25th. They set a "sector weight" rating on the stock. Finally, JPMorgan Chase & Co. cut shares of ArcelorMittal from an "overweight" rating to an "underweight" rating in a report on Monday, March 9th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $51.98.

ArcelorMittal Trading Up 11.6%

ArcelorMittal stock opened at $60.04 on Thursday. The stock has a market cap of $46.53 billion, a P/E ratio of 14.64, a PEG ratio of 0.46 and a beta of 1.49. ArcelorMittal has a fifty-two week low of $23.85 and a fifty-two week high of $67.60. The firm's fifty day moving average price is $57.46 and its 200-day moving average price is $47.81. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.53 and a current ratio of 1.36.

ArcelorMittal (NYSE:MT - Get Free Report) last released its quarterly earnings results on Thursday, February 5th. The basic materials company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.30. The firm had revenue of $14.97 billion for the quarter, compared to analysts' expectations of $15.56 billion. ArcelorMittal had a net margin of 5.14% and a return on equity of 5.27%. The business's quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Equities research analysts forecast that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Friday, November 13th will be issued a $0.15 dividend. The ex-dividend date of this dividend 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%.

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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