Gallacher Capital Management LLC Raises Holdings in ArcelorMittal S.A. (NYSE:MT)

Gallacher Capital Management LLC boosted its stake in shares of ArcelorMittal S.A. (NYSE:MT) by 8.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,152 shares of the basic materials company’s stock after acquiring an additional 900 shares during the quarter. Gallacher Capital Management LLC’s holdings in ArcelorMittal were worth $335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Principal Securities Inc. purchased a new stake in ArcelorMittal in the 4th quarter worth approximately $25,000. GAMMA Investing LLC purchased a new stake in ArcelorMittal in the 4th quarter worth approximately $30,000. EverSource Wealth Advisors LLC lifted its holdings in ArcelorMittal by 84.6% in the 4th 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. lifted its holdings in ArcelorMittal by 336.3% in the 4th quarter. Blue Trust Inc. now owns 1,309 shares of the basic materials company’s stock worth $37,000 after buying an additional 1,009 shares during the period. Finally, PNC Financial Services Group Inc. lifted its holdings in ArcelorMittal by 24.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,115 shares of the basic materials company’s stock worth $117,000 after buying an additional 818 shares during the period. 9.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MT shares. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $31.00 target price (down previously from $34.00) on shares of ArcelorMittal in a research report on Tuesday, April 16th. The Goldman Sachs Group started coverage on ArcelorMittal in a research report on Thursday, May 9th. They issued a “neutral” rating and a $29.60 target price for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, ArcelorMittal presently has a consensus rating of “Hold” and a consensus price target of $30.30.

ArcelorMittal Stock Up 1.8 %

MT stock traded up $0.42 on Friday, reaching $23.55. 939,945 shares of the company traded hands, compared to its average volume of 1,570,097. ArcelorMittal S.A. has a one year low of $21.30 and a one year high of $29.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.55 and a quick ratio of 0.65. The company has a market cap of $18.97 billion, a P/E ratio of 25.99, a price-to-earnings-growth ratio of 0.36 and a beta of 1.77. The firm has a fifty day simple moving average of $24.76 and a 200-day simple moving average of $26.16.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.23. ArcelorMittal had a return on equity of 8.29% and a net margin of 1.15%. The company had revenue of $16.28 billion during the quarter, compared to analyst estimates of $16.67 billion. During the same quarter last year, the company earned $1.27 EPS. The firm’s revenue for the quarter was down 12.0% on a year-over-year basis. Research analysts anticipate that ArcelorMittal S.A. will post 3.92 earnings per share for the current year.

ArcelorMittal Dividend Announcement

The business also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 17th were given a dividend of $0.213 per share. The ex-dividend date was Thursday, May 16th. ArcelorMittal’s dividend payout ratio (DPR) is presently 48.31%.

About ArcelorMittal

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.