Goldman Sachs Group Inc. boosted its position in shares of Mechel PAO (NYSE:MTL) by 26.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 169,874 shares of the basic materials company’s stock after buying an additional 35,364 shares during the period. Goldman Sachs Group Inc.’s holdings in Mechel PAO were worth $903,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its stake in Mechel PAO by 56.7% in the first quarter. Van ECK Associates Corp now owns 1,761,309 shares of the basic materials company’s stock worth $9,370,000 after buying an additional 637,478 shares in the last quarter. California Public Employees Retirement System boosted its stake in Mechel PAO by 24.1% in the first quarter. California Public Employees Retirement System now owns 1,063,050 shares of the basic materials company’s stock worth $5,655,000 after buying an additional 206,400 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in Mechel PAO by 21.0% in the first quarter. Parametric Portfolio Associates LLC now owns 916,099 shares of the basic materials company’s stock worth $4,874,000 after buying an additional 158,851 shares in the last quarter. Bank of America Corp DE boosted its stake in Mechel PAO by 11.9% in the first quarter. Bank of America Corp DE now owns 479,856 shares of the basic materials company’s stock worth $2,553,000 after buying an additional 50,980 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in Mechel PAO during the first quarter worth about $855,000. Institutional investors and hedge funds own 8.35% of the company’s stock.
Mechel PAO (NYSE MTL) traded up 2.996% during mid-day trading on Monday, hitting $4.985. The stock had a trading volume of 52,267 shares. Mechel PAO has a one year low of $1.58 and a one year high of $6.83. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 4.515 and a beta of -1.08. The stock’s 50 day moving average price is $4.83 and its 200 day moving average price is $5.22.
Separately, BidaskClub upgraded Mechel PAO from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th.
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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