Capital Wealth Planning LLC Purchases New Position in ArcelorMittal $MT

Capital Wealth Planning LLC acquired a new position in ArcelorMittal (NYSE:MT) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 91,992 shares of the basic materials company’s stock, valued at approximately $3,326,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in ArcelorMittal by 75.0% during the 1st quarter. AQR Capital Management LLC now owns 34,038 shares of the basic materials company’s stock valued at $982,000 after purchasing an additional 14,593 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of ArcelorMittal by 44.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 501 shares during the last quarter. Vise Technologies Inc. bought a new position in shares of ArcelorMittal during the second quarter valued at $430,000. PNC Financial Services Group Inc. boosted its position in shares of ArcelorMittal by 17.3% during the second quarter. PNC Financial Services Group Inc. now owns 11,073 shares of the basic materials company’s stock valued at $350,000 after buying an additional 1,635 shares during the last quarter. Finally, Creative Planning boosted its position in shares of ArcelorMittal by 13.5% during the second quarter. Creative Planning now owns 73,957 shares of the basic materials company’s stock valued at $2,336,000 after buying an additional 8,768 shares during the last quarter. 9.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Citigroup reiterated a “buy” rating on shares of ArcelorMittal in a report on Friday, February 13th. Wells Fargo & Company raised their price target on shares of ArcelorMittal from $47.00 to $54.00 and gave the company an “equal weight” rating in a report on Friday, February 6th. Jefferies Financial Group upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and lifted their price target for the stock from $51.10 to $73.20 in a research note on Wednesday, February 11th. Santander raised shares of ArcelorMittal from a “neutral” rating to an “outperform” rating in a report on Thursday, February 5th. Finally, Morgan Stanley restated an “overweight” rating on shares of ArcelorMittal in a research report on Tuesday, February 17th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $51.98.

ArcelorMittal Stock Performance

NYSE:MT opened at $50.75 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.53 and a current ratio of 1.36. The stock has a 50-day simple moving average of $56.69 and a two-hundred day simple moving average of $45.45. The firm has a market capitalization of $39.33 billion, a PE ratio of 12.38, a P/E/G ratio of 0.44 and a beta of 1.48. ArcelorMittal has a 52-week low of $23.19 and a 52-week high of $67.60.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, February 5th. The basic materials company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.56 by $0.30. ArcelorMittal had a return on equity of 5.27% and a net margin of 5.14%.The firm had revenue of $14.97 billion for the quarter, compared to the consensus estimate of $15.56 billion. During the same quarter last year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. Analysts forecast that ArcelorMittal will post 3.72 EPS for the current year.

ArcelorMittal Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Shareholders of record on Friday, November 13th will be paid a dividend of $0.15 per share. The ex-dividend date is Friday, November 13th. This represents a $0.60 dividend on an annualized basis and a yield of 1.2%. ArcelorMittal’s dividend payout ratio (DPR) is presently 12.44%.

About ArcelorMittal

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.