ArcelorMittal S.A. (NYSE:MT) Stake Trimmed by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC cut its position in shares of ArcelorMittal S.A. (NYSE:MT) by 8.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,914 shares of the basic materials company’s stock after selling 4,151 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in ArcelorMittal were worth $977,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MT. Principal Securities Inc. purchased a new position in shares of ArcelorMittal during the fourth quarter valued at $25,000. EverSource Wealth Advisors LLC lifted its position in shares of ArcelorMittal by 84.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,128 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 517 shares in the last quarter. MMCAP International Inc. SPC acquired a new stake in shares of ArcelorMittal during the fourth quarter worth approximately $9,058,000. Crestline Management LP acquired a new stake in shares of ArcelorMittal during the fourth quarter worth approximately $2,839,000. Finally, Symmetry Investments LP grew its position in ArcelorMittal by 113.0% during the fourth quarter. Symmetry Investments LP now owns 39,200 shares of the basic materials company’s stock valued at $1,113,000 after purchasing an additional 20,800 shares in the last quarter. 9.88% of the stock is currently owned by institutional investors and hedge funds.

ArcelorMittal Stock Performance

Shares of MT opened at $23.79 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 1.53 and a debt-to-equity ratio of 0.16. ArcelorMittal S.A. has a 12 month low of $20.52 and a 12 month high of $29.01. The company’s fifty day moving average is $22.62 and its 200-day moving average is $24.49. The firm has a market cap of $19.15 billion, a price-to-earnings ratio of 26.72, a price-to-earnings-growth ratio of 0.37 and a beta of 1.76.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, August 1st. The basic materials company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.49). ArcelorMittal had a negative net margin of 0.93% and a positive return on equity of 6.00%. The company had revenue of $16.25 billion for the quarter, compared to the consensus estimate of $16.32 billion. During the same quarter last year, the business earned $2.20 earnings per share. ArcelorMittal’s quarterly revenue was down 12.7% on a year-over-year basis. Equities analysts expect that ArcelorMittal S.A. will post 3.51 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MT has been the subject of a number of research reports. Barclays raised shares of ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft upgraded ArcelorMittal from a “hold” rating to a “buy” rating and boosted their target price for the company from $29.00 to $31.00 in a research note on Wednesday, August 28th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.30.

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.