By otakuyassine3@gmail.com 
Wellington Management Group LLP trimmed its position in shares of ArcelorMittal S.A. (NYSE:MT – Free Report) by 1.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 172,063 shares of the basic materials company’s stock after selling 2,760 shares during the period. Wellington Management Group LLP’s holdings in ArcelorMittal were worth $3,980,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in ArcelorMittal by 39.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 54,421 shares of the basic materials company’s stock worth $1,429,000 after purchasing an additional 15,285 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of ArcelorMittal in the third quarter worth $376,000. MML Investors Services LLC acquired a new stake in ArcelorMittal in the third quarter valued at $308,000. GAMMA Investing LLC boosted its stake in 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 acquiring an additional 595 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new position in ArcelorMittal during the 4th quarter worth $212,000. Institutional investors and hedge funds own 9.29% of the company’s stock.
ArcelorMittal Price Performance
MT opened at $26.82 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. The company’s 50-day moving average price is $29.07 and its 200 day moving average price is $25.99. ArcelorMittal S.A. has a fifty-two week low of $20.52 and a fifty-two week high of $34.90. The firm has a market cap of $21.97 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 0.14 and a beta of 1.60.
ArcelorMittal (NYSE:MT – Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates 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, sell-side analysts expect that ArcelorMittal S.A. will post 3.72 earnings per share for the current year.
ArcelorMittal Dividend Announcement
The company also recently declared a semi-annual dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Thursday, November 13th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, November 12th. This represents a dividend yield of 1.5%. ArcelorMittal’s payout ratio is currently 27.88%.
Analyst Ratings Changes
MT has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered shares of ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 target price on the stock. in a research note on Wednesday, March 26th. Morgan Stanley cut ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 14th. Finally, The Goldman Sachs Group upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $29.00 to $31.70 in a research report on Thursday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, ArcelorMittal currently has an average rating of “Moderate Buy” and an average price target of $32.95.
View Our Latest Report on ArcelorMittal
ArcelorMittal Company 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.
See Also
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