Symmetry Investments LP Cuts Position in ArcelorMittal S.A. (NYSE:MT)

Symmetry Investments LP decreased its position in ArcelorMittal S.A. (NYSE:MTGet Rating) by 36.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,600 shares of the basic materials company’s stock after selling 18,400 shares during the quarter. Symmetry Investments LP’s holdings in ArcelorMittal were worth $1,038,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. raised its position in ArcelorMittal by 320.8% in the third quarter. Rockefeller Capital Management L.P. now owns 909 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 693 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of ArcelorMittal by 82.3% during the fourth quarter. BNP Paribas Arbitrage SA now owns 1,353 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 611 shares during the period. National Bank of Canada FI purchased a new stake in shares of ArcelorMittal during the fourth quarter worth $46,000. Bessemer Group Inc. increased its position in shares of ArcelorMittal by 42.8% during the fourth quarter. Bessemer Group Inc. now owns 2,026 shares of the basic materials company’s stock worth $64,000 after acquiring an additional 607 shares during the period. Finally, Assetmark Inc. increased its position in shares of ArcelorMittal by 299.3% during the third quarter. Assetmark Inc. now owns 3,342 shares of the basic materials company’s stock worth $101,000 after acquiring an additional 2,505 shares during the period. 41.79% of the stock is currently owned by institutional investors.

A number of research firms have recently weighed in on MT. Zacks Investment Research raised ArcelorMittal from a “hold” rating to a “strong-buy” rating and set a $32.00 price objective on the stock in a research report on Wednesday. AlphaValue raised ArcelorMittal to a “reduce” rating in a research report on Tuesday, February 15th. Credit Suisse Group upped their price objective on ArcelorMittal from $42.00 to $50.00 in a research report on Tuesday, February 22nd. Deutsche Bank Aktiengesellschaft upped their price objective on ArcelorMittal from €48.00 ($50.53) to €49.00 ($51.58) in a research report on Friday, May 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of ArcelorMittal from €43.00 ($45.26) to €48.00 ($50.53) in a research note on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $42.13.

NYSE MT opened at $27.32 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.55 and a quick ratio of 0.71. ArcelorMittal S.A. has a 1 year low of $26.36 and a 1 year high of $37.87. The company has a market capitalization of $25.62 billion, a PE ratio of 1.73 and a beta of 1.92. The company has a fifty day moving average of $30.91 and a two-hundred day moving average of $31.34.

ArcelorMittal (NYSE:MTGet Rating) last released its quarterly earnings data on Thursday, February 10th. The basic materials company reported $3.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.39 by $0.32. ArcelorMittal had a net margin of 20.43% and a return on equity of 32.88%. The company had revenue of $20.81 billion during the quarter, compared to the consensus estimate of $19.98 billion. During the same quarter in the prior year, the firm posted $0.18 earnings per share. ArcelorMittal’s revenue for the quarter was up 46.7% on a year-over-year basis. On average, research analysts expect that ArcelorMittal S.A. will post 13.02 earnings per share for the current year.

The business also recently disclosed an annual dividend, which will be paid on Friday, June 10th. Shareholders of record on Monday, May 16th will be paid a $0.38 dividend. This represents a yield of 1.8%. The ex-dividend date of this dividend is Friday, May 13th. This is an increase from ArcelorMittal’s previous annual dividend of $0.30. ArcelorMittal’s dividend payout ratio is currently 1.58%.

About ArcelorMittal (Get Rating)

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in Europe, North and South America, Asia, and Africa. Its principal steel products include semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, which includes blooms and billets; finished long products, including bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.

Further Reading

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Institutional Ownership by Quarter for ArcelorMittal (NYSE:MT)

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