Oct 27, 2023

Janney Montgomery Scott LLC Increases Stock Position in ArcelorMittal S.A. (NYSE:MT)

Janney Montgomery Scott LLC boosted its position in shares of ArcelorMittal S.A. (NYSE:MT - Free Report) by 46.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,123 shares of the basic materials company's stock after purchasing an additional 4,133 shares during the period. Janney Montgomery Scott LLC's holdings in ArcelorMittal were worth $395,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. lifted its position in shares of ArcelorMittal by 3.2% in the 1st quarter. First Trust Direct Indexing L.P. now owns 15,258 shares of the basic materials company's stock worth $460,000 after purchasing an additional 466 shares during the period. Mackenzie Financial Corp purchased a new stake in ArcelorMittal during the first quarter valued at approximately $3,310,000. Penserra Capital Management LLC lifted its position in ArcelorMittal by 266.7% during the first quarter. Penserra Capital Management LLC now owns 18,843 shares of the basic materials company's stock valued at $567,000 after acquiring an additional 13,704 shares during the last quarter. Fifth Third Bancorp lifted its position in ArcelorMittal by 6.1% during the first quarter. Fifth Third Bancorp now owns 7,029 shares of the basic materials company's stock valued at $212,000 after acquiring an additional 403 shares during the last quarter. Finally, Leuthold Group LLC lifted its position in ArcelorMittal by 1,179.5% during the first quarter. Leuthold Group LLC now owns 142,902 shares of the basic materials company's stock valued at $4,304,000 after acquiring an additional 131,733 shares during the last quarter. 5.24% of the stock is currently owned by institutional investors.

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

NYSE MT opened at $27.32 on Monday. The stock's 50-day moving average price is $27.31 and its two-hundred day moving average price is $28.39. The company has a current ratio of 1.63, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15. The company has a market cap of $22.00 billion, a PE ratio of 5.60 and a beta of 1.89. ArcelorMittal S.A. has a 1 year low of $19.25 and a 1 year high of $32.49.

ArcelorMittal (NYSE:MT - Get Free Report) last announced its earnings results on Wednesday, July 26th. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.81 by $0.39. The firm had revenue of $18.61 billion during the quarter, compared to analysts' expectations of $17.41 billion. ArcelorMittal had a return on equity of 9.88% and a net margin of 5.77%. The company's revenue was down 16.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.24 earnings per share. On average, analysts predict that ArcelorMittal S.A. will post 5.2 EPS for the current year.

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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