Rhumbline Advisers Reduces Holdings in ArcelorMittal S.A. (NYSE:MT)

Rhumbline Advisers lessened its position in shares of ArcelorMittal S.A. (NYSE:MT) by 35.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,223 shares of the basic materials company’s stock after selling 3,410 shares during the period. Rhumbline Advisers’ holdings in ArcelorMittal were worth $144,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MT. Geneos Wealth Management Inc. raised its stake in shares of ArcelorMittal by 89.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 536 shares during the period. GAMMA Investing LLC raised its stake in shares of ArcelorMittal by 68.5% during the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 595 shares during the period. Park Avenue Securities LLC bought a new stake in shares of ArcelorMittal during the 4th quarter valued at $212,000. Atria Investments Inc bought a new stake in shares of ArcelorMittal during the 3rd quarter valued at $244,000. Finally, Janney Montgomery Scott LLC bought a new stake in shares of ArcelorMittal during the 4th quarter valued at $233,000. Hedge funds and other institutional investors own 9.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MT. Morgan Stanley lowered ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 14th. Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and increased their price objective for the stock 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 assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $31.17.

ArcelorMittal Trading Down 5.3 %

ArcelorMittal stock opened at $31.41 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. The business’s fifty day simple moving average is $26.12 and its two-hundred day simple moving average is $24.95. ArcelorMittal S.A. has a 12 month low of $20.52 and a 12 month high of $34.90. The company has a market capitalization of $25.73 billion, a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 0.14 and a beta of 1.79.

ArcelorMittal (NYSE:MT) last released its earnings results on Thursday, February 6th. The basic materials company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.09). ArcelorMittal had a return on equity of 4.31% and a net margin of 2.14%. As a group, equities analysts predict that ArcelorMittal S.A. will post 3.72 earnings per share for the current fiscal year.

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.