Sequoia Financial Advisors LLC Takes Position in ArcelorMittal $MT

Key Points

• Sequoia Financial Advisors LLC acquired a new stake in ArcelorMittal worth approximately $414,000, comprising 13,114 shares, during the 2nd quarter.
• Several hedge funds increased their holdings in ArcelorMittal, with notable boosts coming from Geneos Wealth Management Inc. and GAMMA Investing LLC, reflecting growing institutional interest.
• According to analysts, ArcelorMittal holds an average rating of "Hold" and a consensus price target of $33.45, with some recent ratings shifts suggesting mixed sentiments among industry experts.

Sequoia Financial Advisors LLC acquired a new stake in ArcelorMittal (NYSE:MT - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 13,114 shares of the basic materials company's stock, valued at approximately $414,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SVB Wealth LLC purchased a new position in shares of ArcelorMittal in the 1st quarter valued at about $43,000. Geneos Wealth Management Inc. boosted its stake in shares of ArcelorMittal by 44.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company's stock valued at $47,000 after buying an additional 501 shares during the period. Hexagon Capital Partners LLC boosted its stake 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 buying an additional 360 shares during the period. GAMMA Investing LLC boosted its stake 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 buying an additional 456 shares during the period. Finally, Bayforest Capital Ltd boosted its stake 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 buying an additional 440 shares during the period. Hedge funds and other institutional investors own 9.29% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of ArcelorMittal in a research note on Wednesday, October 8th. The Goldman Sachs Group reissued a "neutral" rating on shares of ArcelorMittal in a research report on Friday, October 10th. Barclays lowered ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company raised ArcelorMittal to a "hold" rating in a research report on Thursday, August 14th. Finally, Wall Street Zen lowered ArcelorMittal from a "buy" rating to a "hold" rating in a research report on Saturday, October 11th. Three equities research analysts have rated the stock with a Buy rating and six have assigned 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 $33.45.

ArcelorMittal Trading Up 0.6%

MT opened at $38.70 on Tuesday. The firm has a market cap of $31.71 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 0.17 and a beta of 1.69. ArcelorMittal has a 52 week low of $21.59 and a 52 week high of $41.28. The business's 50 day moving average is $35.56 and its two-hundred day moving average is $32.34. The company has a quick ratio of 0.59, a current ratio of 1.40 and a debt-to-equity ratio of 0.19.

ArcelorMittal (NYSE:MT - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $1.32 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.01). The firm had revenue of $15.93 billion for 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 company's quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.63 EPS. On average, research analysts predict that ArcelorMittal will post 3.72 EPS for the current year.

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.

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