Dauntless Investment Group LLC Makes New Investment in ArcelorMittal S.A. (NYSE:MT)

Dauntless Investment Group LLC bought a new stake in ArcelorMittal S.A. (NYSE:MT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 28,306 shares of the basic materials company's stock, valued at approximately $655,000. ArcelorMittal comprises about 0.7% of Dauntless Investment Group LLC's holdings, making the stock its 15th largest position.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Geneos Wealth Management Inc. lifted its holdings in ArcelorMittal by 89.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company's stock valued at $26,000 after acquiring an additional 536 shares during the period. GAMMA Investing LLC grew its position in ArcelorMittal by 68.5% during the fourth quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company's stock valued at $34,000 after buying an additional 595 shares during the period. Smartleaf Asset Management LLC increased its holdings in ArcelorMittal by 76.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company's stock valued at $137,000 after buying an additional 2,586 shares in the last quarter. Callan Family Office LLC acquired a new position in shares of ArcelorMittal in the fourth quarter worth about $207,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of ArcelorMittal by 23.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 9,076 shares of the basic materials company's stock worth $210,000 after acquiring an additional 1,702 shares in the last quarter. Institutional investors and hedge funds own 9.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Morgan Stanley lowered ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 14th. The Goldman Sachs Group upgraded ArcelorMittal from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $29.00 to $31.70 in a report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of ArcelorMittal in a research report on Monday, April 14th. Finally, Jefferies Financial Group lowered ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 price objective on the stock. in a report on Wednesday, March 26th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $32.95.

ArcelorMittal Trading Up 2.3 %

NYSE MT traded up $0.68 on Monday, reaching $30.26. 1,738,910 shares of the company were exchanged, compared to its average volume of 1,866,986. ArcelorMittal S.A. has a fifty-two week low of $20.52 and a fifty-two week high of $34.90. The stock has a market capitalization of $24.79 billion, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 0.14 and a beta of 1.60. The business's fifty day moving average price is $28.99 and its 200 day moving average price is $26.15. The company has a current ratio of 1.35, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17.

ArcelorMittal (NYSE:MT - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.09). ArcelorMittal had a return on equity of 4.31% and a net margin of 2.14%. Analysts forecast that ArcelorMittal S.A. will post 3.72 earnings per share for the current year.

ArcelorMittal Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Thursday, November 13th will be issued a dividend of $0.275 per share. This represents a dividend yield of 1.5%. The ex-dividend date is Wednesday, November 12th. ArcelorMittal's dividend payout ratio is presently 27.88%.

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.