Gallacher Capital Management LLC Has $335,000 Stock Position in ArcelorMittal S.A. (NYSE:MT)

Gallacher Capital Management LLC lifted its stake in ArcelorMittal S.A. (NYSE:MT) by 8.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of MT. Graham Capital Management L.P. acquired a new stake in shares of ArcelorMittal in the third quarter valued at about $357,000. American Century Companies Inc. increased its position in ArcelorMittal by 4.4% during the third quarter. American Century Companies Inc. now owns 214,413 shares of the basic materials company’s stock worth $5,367,000 after buying an additional 9,117 shares during the last quarter. Wellington Management Group LLP increased its position in ArcelorMittal by 10.2% during the third quarter. Wellington Management Group LLP now owns 370,804 shares of the basic materials company’s stock worth $9,281,000 after buying an additional 34,205 shares during the last quarter. Citigroup Inc. increased its position in ArcelorMittal by 38.2% during the third quarter. Citigroup Inc. now owns 12,356 shares of the basic materials company’s stock worth $309,000 after buying an additional 3,413 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its position in ArcelorMittal by 9.0% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 108,800 shares of the basic materials company’s stock worth $2,723,000 after buying an additional 9,000 shares during the last quarter. Institutional investors and hedge funds own 9.88% of the company’s stock.

ArcelorMittal Stock Performance

Shares of NYSE:MT traded up $0.42 during trading on Friday, reaching $23.55. 939,945 shares of the stock were exchanged, compared to its average volume of 1,570,097. ArcelorMittal S.A. has a 12 month low of $21.30 and a 12 month high of $29.15. The firm has a market cap of $18.97 billion, a PE ratio of 25.99, a PEG ratio of 0.36 and a beta of 1.77. The stock has a 50-day moving average price of $24.76 and a 200-day moving average price of $26.16. The company has a current ratio of 1.55, a quick ratio of 0.65 and a debt-to-equity ratio of 0.15.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $1.16 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $16.67 billion. During the same quarter in the previous year, the company posted $1.27 earnings per share. The business’s revenue was down 12.0% on a year-over-year basis. Research analysts expect that ArcelorMittal S.A. will post 3.92 EPS for the current fiscal year.

ArcelorMittal Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on ArcelorMittal in a research report on Thursday, May 9th. They set a “neutral” rating and a $29.60 price target on the stock. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $31.00 price target (down previously from $34.00) on shares of ArcelorMittal in a research report on Tuesday, April 16th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.30.

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.