Mercer Global Advisors Inc. ADV Sells 20,161 Shares of ArcelorMittal S.A. (NYSE:MT)

Mercer Global Advisors Inc. ADV trimmed its position in ArcelorMittal S.A. (NYSE:MT) by 38.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 31,786 shares of the basic materials company’s stock after selling 20,161 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in ArcelorMittal were worth $735,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in ArcelorMittal by 221.3% during 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. Connor Clark & Lunn Investment Management Ltd. grew its holdings in ArcelorMittal by 146.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,535,319 shares of the basic materials company’s stock worth $35,512,000 after acquiring an additional 912,984 shares during the period. ABC Arbitrage SA acquired a new stake in ArcelorMittal during the 4th quarter worth about $9,895,000. OLD Mission Capital LLC grew its holdings in ArcelorMittal by 145.8% during the 4th quarter. OLD Mission Capital LLC now owns 678,350 shares of the basic materials company’s stock worth $15,690,000 after acquiring an additional 402,402 shares during the period. Finally, Northern Trust Corp grew its holdings in ArcelorMittal by 31.7% during the 4th quarter. Northern Trust Corp now owns 1,153,924 shares of the basic materials company’s stock worth $26,690,000 after acquiring an additional 277,891 shares during the period. 9.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

ArcelorMittal Stock Performance

Shares of MT opened at $30.27 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59. The stock has a 50-day moving average of $29.32 and a 200-day moving average of $26.57. The company has a market cap of $24.80 billion, a PE ratio of 18.35, a P/E/G ratio of 0.14 and a beta of 1.62. ArcelorMittal S.A. has a one year low of $20.52 and a one year high of $34.90.

ArcelorMittal (NYSE:MT) last released its quarterly 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 business had revenue of $14.80 billion during the quarter, compared to the consensus estimate of $15.11 billion. ArcelorMittal had a return on equity of 4.31% and a net margin of 2.14%. The company’s quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 EPS. On average, equities research analysts predict that ArcelorMittal S.A. will post 3.72 EPS for the current fiscal year.

ArcelorMittal Announces Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Thursday, November 13th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a yield of 1.5%. ArcelorMittal’s dividend payout ratio (DPR) is currently 30.07%.

About ArcelorMittal

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.