Point72 Asset Management L.P. Makes New Investment in ArcelorMittal SA (NYSE:MT)
Point72 Asset Management L.P. acquired a new stake in ArcelorMittal SA (NYSE:MT) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 736,585 shares of the basic materials company’s stock, valued at approximately $12,920,000. Point72 Asset Management L.P. owned approximately 0.07% of ArcelorMittal at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. FNY Investment Advisers LLC bought a new stake in shares of ArcelorMittal during the fourth quarter valued at approximately $1,052,000. Millennium Management LLC raised its position in ArcelorMittal by 4,348.4% in the 3rd quarter. Millennium Management LLC now owns 696,487 shares of the basic materials company’s stock worth $9,917,000 after purchasing an additional 680,830 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in ArcelorMittal by 28.8% during the 4th quarter. Renaissance Technologies LLC now owns 7,580,363 shares of the basic materials company’s stock worth $132,960,000 after buying an additional 1,693,291 shares in the last quarter. NEXT Financial Group Inc lifted its holdings in ArcelorMittal by 90.9% during the 4th quarter. NEXT Financial Group Inc now owns 10,499 shares of the basic materials company’s stock worth $184,000 after buying an additional 5,000 shares in the last quarter. Finally, CoreCommodity Management LLC boosted its position in ArcelorMittal by 68.8% in the 4th quarter. CoreCommodity Management LLC now owns 102,908 shares of the basic materials company’s stock valued at $1,805,000 after buying an additional 41,931 shares during the last quarter. 3.31% of the stock is owned by institutional investors.
MT has been the subject of several research reports. UBS Group reissued a “buy” rating on shares of ArcelorMittal in a research note on Thursday, March 19th. ValuEngine raised ArcelorMittal from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Finally, KeyCorp decreased their price target on ArcelorMittal from $23.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. ArcelorMittal currently has an average rating of “Hold” and an average target price of $18.75.
ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, February 6th. The basic materials company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.24. ArcelorMittal had a negative net margin of 3.48% and a positive return on equity of 0.63%. The company had revenue of $15.51 billion for the quarter, compared to analysts’ expectations of $15.36 billion. Equities analysts forecast that ArcelorMittal SA will post 1.53 EPS for the current fiscal year.
ArcelorMittal Company Profile
ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through five segments: NAFTA, Brazil, Europe, ACIS, and Mining. The company produces finished and semi-finished steel products with various specifications.
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