FORA Capital LLC Makes New $440,000 Investment in ArcelorMittal $MT

Key Points

• FORA Capital LLC has acquired a new stake in ArcelorMittal, purchasing 15,256 shares valued at approximately $440,000 during the first quarter of the year.
• Despite a reported earnings per share of $1.32, ArcelorMittal missed analysts' estimates by $0.01, though it exceeded revenue expectations with $15.93 billion for the quarter.
• ArcelorMittal's current market rating averages at "Hold" from analysts, with three giving a Buy rating and five rating it a Hold.

FORA Capital LLC purchased a new stake in ArcelorMittal (NYSE:MT - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund purchased 15,256 shares of the basic materials company's stock, valued at approximately $440,000.

A number of other institutional investors have also made changes to their positions in the company. Hexagon Capital Partners LLC increased its holdings in shares of 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 last quarter. PNC Financial Services Group Inc. increased its holdings in shares of ArcelorMittal by 4.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,438 shares of the basic materials company's stock valued at $272,000 after acquiring an additional 362 shares during the last quarter. US Bancorp DE increased its holdings in shares of ArcelorMittal by 2.7% in the 1st quarter. US Bancorp DE now owns 15,496 shares of the basic materials company's stock valued at $447,000 after acquiring an additional 411 shares during the last quarter. Bayforest Capital Ltd increased its holdings in shares of ArcelorMittal by 23.7% in the 1st quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company's stock valued at $62,000 after acquiring an additional 440 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of 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 last quarter. 9.29% of the stock is currently owned by institutional investors.

ArcelorMittal Stock Performance

MT traded up $0.22 during trading on Monday, reaching $33.37. 892,606 shares of the company were exchanged, compared to its average volume of 1,710,545. The company has a current ratio of 1.40, a quick ratio of 0.59 and a debt-to-equity ratio of 0.19. ArcelorMittal has a 52 week low of $21.59 and a 52 week high of $35.13. The firm has a 50 day moving average of $32.87 and a 200 day moving average of $30.76. The stock has a market cap of $27.33 billion, a P/E ratio of 10.30, a PEG ratio of 0.15 and a beta of 1.64.

ArcelorMittal (NYSE:MT - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $1.32 earnings per share (EPS) 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 analyst estimates of $15.48 billion. During the same quarter last year, the firm posted $0.63 EPS. The company's revenue was down 2.0% compared to the same quarter last year. On average, sell-side analysts forecast that ArcelorMittal will post 3.72 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on MT shares. Barclays downgraded ArcelorMittal from an "overweight" rating to an "equal weight" rating in a report on Wednesday, July 16th. Wells Fargo & Company upgraded ArcelorMittal to a "hold" rating in a research note on Thursday, August 14th. Finally, Wall Street Zen downgraded ArcelorMittal from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $33.45.

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.