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Mar 30, 2023

Banco Bilbao Vizcaya Argentaria S.A. Acquires New Position in ArcelorMittal S.A. (NYSE:MT)

Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in shares of

Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in shares of ArcelorMittal S.A. (NYSE:MT - Get Rating) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 45,800 shares of the basic materials company's stock, valued at approximately $1,199,000.

Several other institutional investors and hedge funds have also bought and sold shares of MT. Knights of Columbus Asset Advisors LLC grew its position in shares of ArcelorMittal by 6.7% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 6,507 shares of the basic materials company's stock worth $130,000 after buying an additional 406 shares during the last quarter. Credit Agricole S A boosted its position in shares of ArcelorMittal by 11.4% during the third quarter. Credit Agricole S A now owns 4,010 shares of the basic materials company's stock valued at $80,000 after purchasing an additional 410 shares in the last quarter. Wetherby Asset Management Inc. boosted its position in shares of ArcelorMittal by 3.7% during the first quarter. Wetherby Asset Management Inc. now owns 11,474 shares of the basic materials company's stock valued at $367,000 after purchasing an additional 411 shares in the last quarter. Creative Planning boosted its position in shares of ArcelorMittal by 6.3% during the second quarter. Creative Planning now owns 9,063 shares of the basic materials company's stock valued at $205,000 after purchasing an additional 540 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in shares of ArcelorMittal by 0.5% during the third quarter. B. Riley Wealth Advisors Inc. now owns 104,984 shares of the basic materials company's stock valued at $2,091,000 after purchasing an additional 553 shares in the last quarter. 5.40% of the stock is currently owned by institutional investors.

MT has been the subject of a number of recent research reports. UBS Group upgraded ArcelorMittal from a "sell" rating to a "buy" rating in a research note on Tuesday, March 28th. Barclays cut ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research note on Monday, April 3rd. StockNews.com initiated coverage on ArcelorMittal in a research note on Thursday, May 18th. They set a "buy" rating for the company. Deutsche Bank Aktiengesellschaft lowered their price objective on ArcelorMittal from $36.00 to $33.00 in a research note on Thursday, February 23rd. Finally, Bank of America upgraded ArcelorMittal from a "neutral" rating to a "buy" rating in a research note on Thursday, March 23rd. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $28.68.

MT stock opened at $25.56 on Friday. The stock has a market capitalization of $20.58 billion, a P/E ratio of 3.69 and a beta of 1.91. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.57 and a quick ratio of 0.70. ArcelorMittal S.A. has a 1-year low of $19.25 and a 1-year high of $33.77. The business has a fifty day moving average price of $27.76 and a 200-day moving average price of $28.29.

ArcelorMittal SA is a holding company, which engages in steelmaking and mining activities. It operates through the following business segments: NAFTA; Brazil; Europe; Africa and Commonwealth of Independent States (ACIS), Mining, and Others. The NAFTA segment consists of flat products such as slabs, hot-rolled coil, cold-rolled coil, coated steel, and plate.

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