JB Capital Partners LP Purchases 30,000 Shares of ArcelorMittal S.A. (NYSE:MT)

JB Capital Partners LP raised its position in ArcelorMittal S.A. (NYSE:MT) by 17.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 205,000 shares of the basic materials company’s stock after acquiring an additional 30,000 shares during the period. ArcelorMittal comprises 1.0% of JB Capital Partners LP’s portfolio, making the stock its 16th biggest position. JB Capital Partners LP’s holdings in ArcelorMittal were worth $5,383,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. FORA Capital LLC acquired a new position in shares of ArcelorMittal during the 3rd quarter worth about $445,000. FMR LLC raised its holdings in ArcelorMittal by 46.7% during the third quarter. FMR LLC now owns 1,317,833 shares of the basic materials company’s stock worth $34,606,000 after acquiring an additional 419,465 shares in the last quarter. Bank of Montreal Can boosted its position in ArcelorMittal by 23.1% during the third quarter. Bank of Montreal Can now owns 174,995 shares of the basic materials company’s stock valued at $4,543,000 after purchasing an additional 32,834 shares during the last quarter. Cerity Partners LLC grew its stake in ArcelorMittal by 128.0% in the third quarter. Cerity Partners LLC now owns 464,315 shares of the basic materials company’s stock valued at $12,193,000 after purchasing an additional 260,633 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its position in shares of ArcelorMittal by 11.2% during the 3rd quarter. Eagle Asset Management Inc. now owns 16,008 shares of the basic materials company’s stock worth $418,000 after purchasing an additional 1,615 shares during the last quarter. Institutional investors and hedge funds own 9.88% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Bank of America raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and raised their target price for the company from $30.00 to $32.90 in a research note on Thursday, November 14th. JPMorgan Chase & Co. lowered shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and raised their target price for the company from $29.00 to $31.00 in a research note on Wednesday, August 28th. Finally, Barclays raised ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research report on Monday, August 19th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $31.17.

ArcelorMittal Stock Up 2.6 %

NYSE:MT opened at $24.56 on Friday. The firm’s fifty day moving average price is $24.85 and its two-hundred day moving average price is $23.99. The company has a current ratio of 1.46, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. ArcelorMittal S.A. has a one year low of $20.52 and a one year high of $29.01.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.05. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The firm had revenue of $15.20 billion for the quarter, compared to analysts’ expectations of $15.11 billion. During the same period in the prior year, the firm earned $1.10 EPS. The business’s revenue was down 8.5% on a year-over-year basis. On average, analysts anticipate that ArcelorMittal S.A. will post 3.02 EPS for the current year.

ArcelorMittal Profile

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.