Dauntless Investment Group LLC Has $204,000 Stock Position in ArcelorMittal (NYSE:MT)

Key Points

• Dauntless Investment Group LLC reduced its stake in ArcelorMittal by 75%, holding 7,071 shares after selling 21,235 shares in the first quarter of 2023.
• ArcelorMittal reported $1.04 earnings per share (EPS), surpassing analysts' expectations of $0.71, despite a 9.1% year-over-year revenue decline.
• Several analysts have issued mixed ratings on ArcelorMittal, with Goldman Sachs upgrading its rating from "neutral" to "buy," while Barclays downgraded to "equal weight."

Dauntless Investment Group LLC lowered its stake in shares of ArcelorMittal (NYSE:MT - Free Report) by 75.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,071 shares of the basic materials company's stock after selling 21,235 shares during the period. Dauntless Investment Group LLC's holdings in ArcelorMittal were worth $204,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Hexagon Capital Partners LLC raised its stake in 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 during the period. GAMMA Investing LLC raised its stake in 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 during the period. BNP Paribas Financial Markets raised its stake in 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 during the period. Vise Technologies Inc. bought a new stake in ArcelorMittal in the 4th quarter valued at $217,000. Finally, Tower Research Capital LLC TRC raised its stake in ArcelorMittal by 94.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,408 shares of the basic materials company's stock valued at $218,000 after acquiring an additional 4,567 shares during the period. Institutional investors own 9.29% of the company's stock.

ArcelorMittal Price Performance

Shares of MT stock traded down $0.73 on Friday, hitting $30.91. 2,405,872 shares of the company's stock were exchanged, compared to its average volume of 2,025,928. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.35 and a quick ratio of 0.58. ArcelorMittal has a 12 month low of $20.52 and a 12 month high of $34.90. The stock has a market cap of $25.32 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 0.14 and a beta of 1.63. The company has a 50 day moving average of $31.79 and a 200 day moving average of $29.55.

ArcelorMittal (NYSE:MT - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.01). The business had revenue of $15.93 billion for the quarter, compared to the consensus estimate of $15.48 billion. ArcelorMittal had a return on equity of 4.11% and a net margin of 1.98%. ArcelorMittal's quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, equities research analysts predict that ArcelorMittal will post 3.72 EPS for the current year.

ArcelorMittal Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were given a dividend of $0.2338 per share. This represents a dividend yield of 144.0%. The ex-dividend date was Friday, May 16th. ArcelorMittal's dividend payout ratio (DPR) is 30.72%.

Analysts Set New Price Targets

A number of brokerages have commented on MT. The Goldman Sachs Group raised ArcelorMittal from a "neutral" rating to a "buy" rating and upped their price objective for the company from $29.00 to $31.70 in a report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of ArcelorMittal in a report on Monday, April 14th. Wall Street Zen lowered ArcelorMittal from a "buy" rating to a "hold" rating in a report on Sunday, July 20th. Finally, Barclays lowered ArcelorMittal from an "overweight" rating to an "equal weight" rating in a report on Wednesday, July 16th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $32.95.

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.