ArcelorMittal S.A. (NYSE:MT) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its stake in shares of ArcelorMittal S.A. (NYSE:MT) by 18.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,460 shares of the basic materials company’s stock after selling 13,469 shares during the period. QRG Capital Management Inc.’s holdings in ArcelorMittal were worth $1,352,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in shares of ArcelorMittal by 68.5% in the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock valued at $34,000 after buying an additional 595 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in ArcelorMittal by 154.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 57,106 shares of the basic materials company’s stock valued at $1,500,000 after acquiring an additional 34,688 shares during the last quarter. Natixis Advisors LLC grew its position in ArcelorMittal by 171.4% in the third quarter. Natixis Advisors LLC now owns 130,100 shares of the basic materials company’s stock worth $3,416,000 after acquiring an additional 82,164 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in ArcelorMittal during the third quarter worth $642,000. Finally, Janney Montgomery Scott LLC purchased a new stake in ArcelorMittal in the fourth quarter valued at $233,000. Institutional investors and hedge funds own 9.29% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on MT shares. Bank of America raised ArcelorMittal from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $30.00 to $32.90 in a research report on Thursday, November 14th. Morgan Stanley cut shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.17.

ArcelorMittal Price Performance

MT stock opened at $29.49 on Tuesday. The business’s fifty day moving average price is $25.19 and its 200 day moving average price is $24.61. ArcelorMittal S.A. has a 12-month low of $20.52 and a 12-month high of $30.38. 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 company has a market capitalization of $24.16 billion, a PE ratio of 17.87, a P/E/G ratio of 0.14 and a beta of 1.74.

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