ArcelorMittal $MT Stock Holdings Decreased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. lessened its position in ArcelorMittal (NYSE:MT) by 31.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,403 shares of the basic materials company’s stock after selling 4,750 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in ArcelorMittal were worth $329,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vestmark Advisory Solutions Inc. grew its position in ArcelorMittal by 46.4% during the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 24,240 shares of the basic materials company’s stock worth $765,000 after purchasing an additional 7,684 shares in the last quarter. Bank of Montreal Can boosted its position in shares of ArcelorMittal by 1.1% in the second quarter. Bank of Montreal Can now owns 148,590 shares of the basic materials company’s stock worth $4,692,000 after buying an additional 1,580 shares during the period. Atria Investments Inc grew its holdings in shares of ArcelorMittal by 10.7% during the second quarter. Atria Investments Inc now owns 7,966 shares of the basic materials company’s stock valued at $252,000 after buying an additional 767 shares in the last quarter. Hantz Financial Services Inc. raised its position in ArcelorMittal by 1,397.2% during the second quarter. Hantz Financial Services Inc. now owns 5,824 shares of the basic materials company’s stock valued at $184,000 after buying an additional 5,435 shares during the period. Finally, Oppenheimer Asset Management Inc. raised its position in ArcelorMittal by 7.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 43,201 shares of the basic materials company’s stock valued at $1,364,000 after buying an additional 3,102 shares during the period. Institutional investors and hedge funds own 9.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wall Street Zen lowered ArcelorMittal from a “buy” rating to a “hold” rating in a research report on Saturday, October 11th. The Goldman Sachs Group restated a “neutral” rating on shares of ArcelorMittal in a report on Friday, October 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ArcelorMittal in a research report on Wednesday, October 8th. Wells Fargo & Company reiterated a “cautious” rating and issued a $39.00 price objective (up previously from $33.00) on shares of ArcelorMittal in a research note on Thursday, October 23rd. Finally, Citigroup reissued a “buy” rating on shares of ArcelorMittal in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $35.63.

ArcelorMittal Price Performance

NYSE MT opened at $39.46 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.40 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $32.33 billion, a PE ratio of 12.18, a price-to-earnings-growth ratio of 0.17 and a beta of 1.72. ArcelorMittal has a 12-month low of $21.59 and a 12-month high of $41.28. The company has a 50 day moving average price of $37.59 and a two-hundred day moving average price of $33.91.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, November 6th. The basic materials company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. ArcelorMittal had a net margin of 4.11% and a return on equity of 4.99%. The business had revenue of $15.66 billion for the quarter, compared to the consensus estimate of $15.88 billion. During the same quarter last year, the firm earned $0.63 EPS. ArcelorMittal’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities analysts predict that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal 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.