Fox Run Management L.L.C. Acquires New Stake in ArcelorMittal $MT

Key Points

• Fox Run Management has invested approximately $1.34 million in ArcelorMittal, acquiring 46,421 shares during the 1st quarter.
• ArcelorMittal's latest earnings report showed an EPS of $1.32, slightly missing analysts' estimates, and revenue of $15.93 billion, exceeding expectations.
• Recent analyst ratings for ArcelorMittal have varied, with Barclays downgrading the stock from "overweight" to "equal weight" and Wells Fargo initiating coverage with a "negative" rating.

Fox Run Management L.L.C. purchased a new stake in shares of ArcelorMittal (NYSE:MT - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 46,421 shares of the basic materials company's stock, valued at approximately $1,339,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hexagon Capital Partners LLC boosted its position in shares of ArcelorMittal by 25.4% during 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. 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 buying an additional 456 shares during the last quarter. 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 buying an additional 440 shares during the last quarter. 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 buying an additional 2,110 shares during the last quarter. Finally, Atlas Capital Advisors Inc. acquired a new position in ArcelorMittal in the first quarter valued at about $166,000. Institutional investors and hedge funds own 9.29% of the company's stock.

ArcelorMittal Stock Down 1.4%

Shares of MT traded down $0.4940 during mid-day trading on Wednesday, hitting $34.0160. 345,032 shares of the company's stock were exchanged, compared to its average volume of 2,019,942. The company has a market cap of $27.87 billion, a price-to-earnings ratio of 10.51, a P/E/G ratio of 0.15 and a beta of 1.65. ArcelorMittal has a fifty-two week low of $21.59 and a fifty-two week high of $35.13. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.59 and a current ratio of 1.40. The stock's 50-day moving average is $32.40 and its 200-day moving average is $30.39.

ArcelorMittal (NYSE:MT - Get Free Report) last issued its earnings results 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 firm had revenue of $15.93 billion during the quarter, compared to analyst estimates of $15.48 billion. ArcelorMittal had a net margin of 4.11% and a return on equity of 4.99%. The firm's revenue was down 2.0% compared to the same quarter last year. During the same period last year, the business earned $0.63 EPS. On average, sell-side analysts anticipate that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on MT shares. Wells Fargo & Company raised shares of ArcelorMittal to a "hold" rating in a research report on Thursday, August 14th. Barclays cut shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, July 16th. Finally, Wall Street Zen cut shares of ArcelorMittal from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Three equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, ArcelorMittal currently has an average rating of "Hold" and a consensus price target of $32.96.

ArcelorMittal Company 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.