ArcelorMittal S.A. (NYSE:MT) Position Trimmed by Voloridge Investment Management LLC

Voloridge Investment Management LLC decreased its holdings in shares of ArcelorMittal S.A. (NYSE:MT) by 95.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,392 shares of the basic materials company’s stock after selling 727,584 shares during the period. Voloridge Investment Management LLC’s holdings in ArcelorMittal were worth $726,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MT. Janney Montgomery Scott LLC bought a new stake in ArcelorMittal during the fourth quarter valued at $233,000. Geneos Wealth Management Inc. grew its position in shares of ArcelorMittal by 89.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 536 shares during the last quarter. ABC Arbitrage SA acquired a new stake in shares of ArcelorMittal in the 4th quarter worth about $9,895,000. Callan Capital LLC increased its holdings in shares of ArcelorMittal by 53.8% in the 4th quarter. Callan Capital LLC now owns 31,555 shares of the basic materials company’s stock worth $730,000 after acquiring an additional 11,042 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in shares of ArcelorMittal by 221.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company’s stock worth $78,712,000 after acquiring an additional 2,344,020 shares during the period. Institutional investors own 9.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MT. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Monday, April 14th. Jefferies Financial Group cut shares of ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 price objective on the stock. in a report on Wednesday, March 26th. The Goldman Sachs Group raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $29.00 to $31.70 in a report on Thursday, April 10th. Finally, Morgan Stanley cut shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $32.95.

ArcelorMittal Stock Performance

Shares of MT opened at $30.53 on Friday. The firm has a 50-day moving average price of $28.95 and a 200 day moving average price of $27.11. The firm has a market capitalization of $25.01 billion, a PE ratio of 18.50, a P/E/G ratio of 0.14 and a beta of 1.62. The company has a quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. ArcelorMittal S.A. has a 52-week low of $20.52 and a 52-week high of $34.90.

ArcelorMittal (NYSE:MT) last announced its earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.33. The firm had revenue of $14.80 billion during the quarter, compared to analyst estimates of $15.11 billion. ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. ArcelorMittal’s revenue was down 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.16 EPS. On average, sell-side analysts anticipate that ArcelorMittal S.A. will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Cuts Dividend

The business also recently announced a dividend, which will be paid on Wednesday, June 11th. Investors of record on Monday, May 19th will be given a $0.2338 dividend. The ex-dividend date is Friday, May 16th. This represents a yield of 1.44%. ArcelorMittal’s dividend payout ratio is presently 30.07%.

ArcelorMittal Company Profile

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the United States, Europe, and internationally. It offers 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, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.