Clearbridge Investments LLC Reduces Holdings in ArcelorMittal S.A. (NYSE:MT)

Clearbridge Investments LLC decreased its position in shares of ArcelorMittal S.A. (NYSE:MT) by 3.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,621,813 shares of the basic materials company’s stock after selling 83,078 shares during the period. Clearbridge Investments LLC owned 0.33% of ArcelorMittal worth $72,310,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new position in shares of ArcelorMittal during the fourth quarter valued at $25,000. GAMMA Investing LLC acquired a new stake in shares of ArcelorMittal during the fourth quarter worth about $30,000. EverSource Wealth Advisors LLC lifted its holdings in ArcelorMittal by 84.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,128 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 517 shares during the period. Blue Trust Inc. increased its position in shares of ArcelorMittal by 336.3% in the fourth quarter. Blue Trust Inc. now owns 1,309 shares of the basic materials company’s stock valued at $37,000 after buying an additional 1,009 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of ArcelorMittal in the first quarter valued at approximately $71,000. Institutional investors own 9.88% of the company’s stock.

ArcelorMittal Stock Down 1.3 %

ArcelorMittal stock traded down $0.30 during midday trading on Wednesday, hitting $22.24. The stock had a trading volume of 1,808,247 shares, compared to its average volume of 1,584,859. ArcelorMittal S.A. has a 12 month low of $21.30 and a 12 month high of $29.15. The business has a fifty day moving average price of $24.32 and a 200 day moving average price of $25.84. The stock has a market cap of $17.91 billion, a P/E ratio of 25.31, a P/E/G ratio of 0.36 and a beta of 1.77. The company has a current ratio of 1.55, a quick ratio of 0.65 and a debt-to-equity ratio of 0.15.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.23. The business had revenue of $16.28 billion for the quarter, compared to the consensus estimate of $16.67 billion. ArcelorMittal had a net margin of 1.15% and a return on equity of 8.29%. ArcelorMittal’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.27 earnings per share. Research analysts predict that ArcelorMittal S.A. will post 3.92 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on MT. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $31.00 price target (down previously from $34.00) on shares of ArcelorMittal in a research note on Tuesday, April 16th. The Goldman Sachs Group initiated coverage on ArcelorMittal in a research note on Thursday, May 9th. They set a “neutral” rating and a $29.60 price target on the stock. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” 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.