XTX Topco Ltd Invests $792,000 in ArcelorMittal S.A. (NYSE:MT)

XTX Topco Ltd purchased a new position in shares of ArcelorMittal S.A. (NYSE:MT) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 34,524 shares of the basic materials company’s stock, valued at approximately $792,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Securities Inc. acquired a new position in shares of ArcelorMittal during the fourth quarter worth about $25,000. EverSource Wealth Advisors LLC grew its position in ArcelorMittal by 84.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,128 shares of the basic materials company’s stock worth $32,000 after buying an additional 517 shares during the period. Blue Trust Inc. grew its position in ArcelorMittal by 1,820.0% during the second quarter. Blue Trust Inc. now owns 2,016 shares of the basic materials company’s stock worth $46,000 after buying an additional 1,911 shares during the period. Mather Group LLC. grew its position in ArcelorMittal by 1,388.6% during the second quarter. Mather Group LLC. now owns 2,218 shares of the basic materials company’s stock worth $51,000 after buying an additional 2,069 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in ArcelorMittal by 298.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,365 shares of the basic materials company’s stock worth $54,000 after buying an additional 1,771 shares during the period. 9.88% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MT. Barclays upgraded shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and upped their target price for the stock from $29.00 to $31.00 in a research report on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.30.

ArcelorMittal Stock Down 1.6 %

Shares of NYSE MT opened at $23.97 on Monday. ArcelorMittal S.A. has a 12-month low of $20.52 and a 12-month high of $29.01. The company has a market capitalization of $19.30 billion, a PE ratio of 26.93, a price-to-earnings-growth ratio of 0.37 and a beta of 1.76. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.53 and a quick ratio of 0.66. The firm’s 50-day moving average is $22.61 and its two-hundred day moving average is $24.50.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.12 by ($0.49). ArcelorMittal had a negative net margin of 0.93% and a positive return on equity of 6.00%. The business had revenue of $16.25 billion during the quarter, compared to analysts’ expectations of $16.32 billion. During the same period last year, the company earned $2.20 EPS. The firm’s revenue for the quarter was down 12.7% on a year-over-year basis. Equities analysts anticipate that ArcelorMittal S.A. will post 3.51 EPS for the current fiscal 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.