Parametric Portfolio Associates LLC grew its holdings in Mechel PAO (NYSE:MTL) by 23.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,133,098 shares of the basic materials company’s stock after purchasing an additional 216,999 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.54% of Mechel PAO worth $5,246,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in MTL. BNP Paribas Arbitrage SA raised its stake in shares of Mechel PAO by 288.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 62,863 shares of the basic materials company’s stock valued at $291,000 after acquiring an additional 46,692 shares during the period. Jane Street Group LLC purchased a new position in shares of Mechel PAO in the 1st quarter valued at $855,000. Goldman Sachs Group Inc. raised its stake in shares of Mechel PAO by 26.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 169,874 shares of the basic materials company’s stock valued at $903,000 after acquiring an additional 35,364 shares during the period. Bank of America Corp DE raised its stake in shares of Mechel PAO by 11.9% in the 1st quarter. Bank of America Corp DE now owns 479,856 shares of the basic materials company’s stock valued at $2,553,000 after acquiring an additional 50,980 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of Mechel PAO by 24.1% in the 1st quarter. California Public Employees Retirement System now owns 1,063,050 shares of the basic materials company’s stock valued at $5,655,000 after acquiring an additional 206,400 shares during the period. Institutional investors and hedge funds own 8.29% of the company’s stock.
Several equities research analysts recently issued reports on MTL shares. BidaskClub raised shares of Mechel PAO from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. ValuEngine downgraded shares of Mechel PAO from a “buy” rating to a “hold” rating in a research note on Friday, September 1st.
Shares of Mechel PAO (NYSE:MTL) traded up $0.03 during mid-day trading on Wednesday, reaching $4.90. 118,906 shares of the company’s stock traded hands, compared to its average volume of 409,343. Mechel PAO has a 52 week low of $4.16 and a 52 week high of $6.83. The company has a quick ratio of 0.06, a current ratio of 0.13 and a debt-to-equity ratio of -0.04.
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About Mechel PAO
Mechel PAO, formerly Mechel OAO, is a holding company. The Company operates in the mining, steel and power industry segments. Its segments include Steel segment, comprising production and sales of semi-finished steel products, carbon and specialty long products, carbon and stainless flat products, and value-added downstream metal products, including forgings, stampings, and hardware, and ferrosilicon; Mining segment, comprising production and sales of coal (coking and steam), and middlings, coke and chemical products, and iron ore, which supplies raw materials to the Steel and Power segments, and also sells raw materials to third parties, and Power segment, comprising generation and sales of electricity and heat power, which supplies electricity and heat power to the Steel and Mining segments, and also sells a portion of electricity and heat power to third parties.
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