Blue Trust Inc. Trims Stock Holdings in ArcelorMittal S.A. (NYSE:MT)

Blue Trust Inc. lessened its stake in shares of ArcelorMittal S.A. (NYSE:MT) by 25.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,211 shares of the basic materials company’s stock after selling 2,524 shares during the quarter. Blue Trust Inc.’s holdings in ArcelorMittal were worth $167,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in MT. Geneos Wealth Management Inc. boosted its holdings 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 purchasing an additional 536 shares during the last quarter. GAMMA Investing LLC boosted its stake in ArcelorMittal by 68.5% in the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock worth $34,000 after buying an additional 595 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in ArcelorMittal in the 4th quarter valued at about $212,000. Janney Montgomery Scott LLC acquired a new position in shares of ArcelorMittal during the 4th quarter valued at about $233,000. Finally, Atria Investments Inc purchased a new position in shares of ArcelorMittal during the 3rd quarter worth about $244,000. Institutional investors and hedge funds own 9.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MT. JPMorgan Chase & Co. downgraded shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research note on Friday, October 11th. Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and lifted their target price for the company from $30.00 to $32.90 in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.17.

ArcelorMittal Price Performance

MT stock opened at $25.10 on Wednesday. The firm has a market cap of $20.56 billion, a P/E ratio of -17.80, a price-to-earnings-growth ratio of 0.49 and a beta of 1.74. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 1.46. ArcelorMittal S.A. has a 1 year low of $20.52 and a 1 year high of $28.95. The stock has a 50-day simple moving average of $23.85 and a 200-day simple moving average of $23.77.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings data on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.05. The company had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.11 billion. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. ArcelorMittal’s revenue for the quarter was down 8.5% on a year-over-year basis. During the same quarter last year, the company earned $1.10 earnings per share. On average, equities analysts predict that ArcelorMittal S.A. will post 2.73 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.