Oct 19, 2023

100,600 Shares in ArcelorMittal S.A. (NYSE:MT) Purchased by Todd Asset Management LLC

Todd Asset Management LLC purchased a new position in shares of ArcelorMittal S.A. (NYSE:MT - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 100,600 shares of the basic materials company's stock, valued at approximately $3,030,000.

Other large investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership boosted its position in ArcelorMittal by 1,300.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,349,935 shares of the basic materials company's stock valued at $171,251,000 after buying an additional 4,967,981 shares during the period. BlackRock Inc. lifted its holdings in shares of ArcelorMittal by 96.3% in the 1st quarter. BlackRock Inc. now owns 3,706,360 shares of the basic materials company's stock worth $118,642,000 after buying an additional 1,818,361 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of ArcelorMittal in the 1st quarter worth $54,502,000. Clearbridge Investments LLC lifted its holdings in shares of ArcelorMittal by 21.8% in the 1st quarter. Clearbridge Investments LLC now owns 3,126,342 shares of the basic materials company's stock worth $100,074,000 after buying an additional 558,849 shares during the period. Finally, Two Sigma Advisers LP lifted its holdings in shares of ArcelorMittal by 17.0% in the 4th quarter. Two Sigma Advisers LP now owns 2,368,200 shares of the basic materials company's stock worth $62,094,000 after buying an additional 344,600 shares during the period. 5.24% of the stock is owned by hedge funds and other institutional investors.

NYSE:MT traded down $0.18 during midday trading on Friday, reaching $26.83. 915,751 shares of the stock traded hands, compared to its average volume of 2,325,189. The business has a 50-day moving average of $27.44 and a two-hundred day moving average of $28.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.68 and a current ratio of 1.63. ArcelorMittal S.A. has a 12-month low of $19.25 and a 12-month high of $32.49. The stock has a market capitalization of $21.61 billion, a PE ratio of 5.53 and a beta of 1.89.

ArcelorMittal (NYSE:MT - Get Free Report) last released its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $2.20 EPS for the quarter, beating analysts' consensus estimates of $1.81 by $0.39. ArcelorMittal had a return on equity of 9.88% and a net margin of 5.77%. The company had revenue of $18.61 billion during the quarter, compared to analysts' expectations of $17.41 billion. During the same period last year, the business posted $4.24 earnings per share. The firm's revenue was down 16.0% compared to the same quarter last year. On average, equities analysts forecast that ArcelorMittal S.A. will post 5.3 earnings per share for the current fiscal year.

Separately, initiated coverage on shares of ArcelorMittal in a research report on Thursday, May 18th. They issued a "buy" rating for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, ArcelorMittal presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.68.

View Our Latest Research Report on ArcelorMittal

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the Americas, Europe, Asia, and Africa. 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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