Envestnet Asset Management Inc. Decreases Stock Position in ArcelorMittal S.A. (NYSE:MT)

Envestnet Asset Management Inc. cut its holdings in ArcelorMittal S.A. (NYSE:MT – Get Rating) by 11.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,747 shares of the basic materials company’s stock after selling 25,489 shares during the period. Envestnet Asset Management Inc.’s holdings in ArcelorMittal were worth $5,028,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Arrowstreet Capital Limited Partnership boosted its position in shares of ArcelorMittal by 1,300.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,349,935 shares of the basic materials company’s stock worth $171,251,000 after buying an additional 4,967,981 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of ArcelorMittal by 5.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,225,036 shares of the basic materials company’s stock worth $84,119,000 after buying an additional 224,156 shares in the last quarter. BlackRock Inc. boosted its position in shares of ArcelorMittal by 96.3% in the 1st quarter. BlackRock Inc. now owns 3,706,360 shares of the basic materials company’s stock worth $118,642,000 after buying an additional 1,818,361 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of ArcelorMittal by 21.8% in the 1st quarter. Clearbridge Investments LLC now owns 3,126,342 shares of the basic materials company’s stock worth $100,074,000 after buying an additional 558,849 shares in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in ArcelorMittal by 52.7% in the 3rd quarter. Two Sigma Investments LP now owns 2,392,087 shares of the basic materials company’s stock valued at $47,626,000 after purchasing an additional 825,488 shares in the last quarter. 5.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MT. StockNews.com began coverage on shares of ArcelorMittal in a report on Thursday, March 16th. They issued a “buy” rating on the stock. UBS Group upgraded shares of ArcelorMittal from a “sell” rating to a “buy” rating in a report on Tuesday, March 28th. Barclays lowered shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Monday, April 3rd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of ArcelorMittal from $36.00 to $33.00 in a report on Thursday, February 23rd. Finally, Bank of America upgraded shares of ArcelorMittal from a “neutral” rating to a “buy” rating in a report on Thursday, March 23rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.68.

ArcelorMittal Trading Up 1.0 %

NYSE MT opened at $26.37 on Friday. The firm has a market capitalization of $21.24 billion, a price-to-earnings ratio of 3.81 and a beta of 1.89. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.70 and a current ratio of 1.57. ArcelorMittal S.A. has a one year low of $19.25 and a one year high of $33.77. The company’s 50 day moving average price is $28.54 and its 200 day moving average price is $28.07.

ArcelorMittal (NYSE:MT – Get Rating) last posted its earnings results on Thursday, February 9th. The basic materials company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $0.33 by $1.04. ArcelorMittal had a net margin of 8.20% and a return on equity of 13.66%. The business had revenue of $16.89 billion for the quarter, compared to analyst estimates of $15.62 billion. On average, sell-side analysts predict that ArcelorMittal S.A. will post 4.27 EPS for the current year.

ArcelorMittal Announces Dividend

The company also recently disclosed an annual dividend, which will be paid on Thursday, June 15th. Shareholders of record on Tuesday, May 23rd will be given a $0.38 dividend. This represents a yield of 1.2%. The ex-dividend date of this dividend is Monday, May 22nd. ArcelorMittal’s dividend payout ratio (DPR) is 2.60%.

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.