Highland Capital Management LLC Sells 478 Shares of ArcelorMittal $MT

Highland Capital Management LLC lowered its stake in shares of ArcelorMittal (NYSE:MT) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,917 shares of the basic materials company’s stock after selling 478 shares during the period. Highland Capital Management LLC’s holdings in ArcelorMittal were worth $661,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of MT. SVB Wealth LLC acquired a new stake in shares of ArcelorMittal in the 1st quarter valued at approximately $43,000. Geneos Wealth Management Inc. raised its holdings in ArcelorMittal by 44.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 501 shares during the period. Hexagon Capital Partners LLC raised its holdings in ArcelorMittal by 25.4% in the first quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company’s stock worth $51,000 after purchasing an additional 360 shares during the period. GAMMA Investing LLC boosted its position in shares of ArcelorMittal by 31.1% during the first quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 456 shares in the last quarter. Finally, Bayforest Capital Ltd grew its holdings in shares of ArcelorMittal by 23.7% in the 1st quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company’s stock valued at $62,000 after buying an additional 440 shares during the period. 9.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MT has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of ArcelorMittal in a report on Saturday, September 27th. Wall Street Zen raised ArcelorMittal from a “hold” rating to a “buy” rating in a research report on Friday. Barclays downgraded shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company raised ArcelorMittal to a “hold” rating in a research note on Thursday, August 14th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, ArcelorMittal presently has a consensus rating of “Hold” and an average target price of $33.45.

ArcelorMittal Stock Up 0.6%

Shares of MT stock opened at $38.38 on Monday. The firm’s fifty day moving average price is $34.10 and its two-hundred day moving average price is $31.62. The company has a current ratio of 1.40, a quick ratio of 0.59 and a debt-to-equity ratio of 0.19. ArcelorMittal has a 1 year low of $21.59 and a 1 year high of $38.83. The firm has a market capitalization of $31.44 billion, a P/E ratio of 11.84, a PEG ratio of 0.17 and a beta of 1.69.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.01). The company had revenue of $15.93 billion during the quarter, compared to the consensus estimate of $15.48 billion. ArcelorMittal had a net margin of 4.11% and a return on equity of 4.99%. ArcelorMittal’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS. On average, equities analysts predict that ArcelorMittal will post 3.72 EPS 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.