US Bancorp DE Lowers Position in ArcelorMittal S.A. (NYSE:MT)

US Bancorp DE trimmed its position in shares of ArcelorMittal S.A. (NYSE:MTGet Rating) by 75.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 18,088 shares of the basic materials company’s stock after selling 54,518 shares during the quarter. US Bancorp DE’s holdings in ArcelorMittal were worth $361,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Veriti Management LLC purchased a new position in shares of ArcelorMittal during the 3rd quarter valued at about $313,000. Fractal Investments LLC raised its holdings in shares of ArcelorMittal by 7.4% during the 3rd quarter. Fractal Investments LLC now owns 34,800 shares of the basic materials company’s stock valued at $693,000 after buying an additional 2,400 shares in the last quarter. Wipfli Financial Advisors LLC purchased a new position in shares of ArcelorMittal during the 3rd quarter valued at about $42,000. Ritholtz Wealth Management raised its holdings in shares of ArcelorMittal by 9.4% during the 3rd quarter. Ritholtz Wealth Management now owns 31,156 shares of the basic materials company’s stock valued at $620,000 after buying an additional 2,676 shares in the last quarter. Finally, Verition Fund Management LLC raised its holdings in shares of ArcelorMittal by 16.9% during the 2nd quarter. Verition Fund Management LLC now owns 9,328 shares of the basic materials company’s stock valued at $211,000 after buying an additional 1,351 shares in the last quarter. 5.40% of the stock is owned by hedge funds and other institutional investors.

ArcelorMittal Price Performance

Shares of MT stock opened at $31.00 on Tuesday. The firm has a market cap of $29.07 billion, a P/E ratio of 2.29 and a beta of 1.89. ArcelorMittal S.A. has a fifty-two week low of $19.25 and a fifty-two week high of $34.59. The business’s 50 day moving average price is $27.42 and its 200-day moving average price is $24.45. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.70 and a current ratio of 1.62.

ArcelorMittal (NYSE:MTGet Rating) last issued its quarterly earnings data on Thursday, November 10th. The basic materials company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.28. The firm had revenue of $18.98 billion for the quarter, compared to analyst estimates of $17.22 billion. ArcelorMittal had a return on equity of 24.32% and a net margin of 15.62%. On average, equities research analysts anticipate that ArcelorMittal S.A. will post 10.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MT shares. Bank of America lowered ArcelorMittal from a “buy” rating to a “neutral” rating in a research report on Wednesday, December 14th. UBS Group lowered ArcelorMittal from a “neutral” rating to a “sell” rating in a research report on Wednesday, January 18th. JPMorgan Chase & Co. reduced their price target on ArcelorMittal from €24.50 ($26.63) to €23.00 ($25.00) and set a “neutral” rating on the stock in a research report on Wednesday, December 14th. StockNews.com upgraded ArcelorMittal from a “hold” rating to a “buy” rating in a research report on Saturday, January 14th. Finally, Morgan Stanley reduced their price target on ArcelorMittal from €40.00 ($43.48) to €38.00 ($41.30) and set an “overweight” rating on the stock in a research report on Tuesday, November 15th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, ArcelorMittal currently has a consensus rating of “Hold” and an average price target of $32.94.

ArcelorMittal Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for ArcelorMittal (NYSE:MT)

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