MMCAP International Inc. SPC Cuts Position in ArcelorMittal S.A. (NYSE:MT)

MMCAP International Inc. SPC lessened its holdings in ArcelorMittal S.A. (NYSE:MT) by 54.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,350 shares of the basic materials company’s stock after selling 163,279 shares during the period. MMCAP International Inc. SPC’s holdings in ArcelorMittal were worth $3,200,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MT. Creative Planning raised its holdings in shares of ArcelorMittal by 24.1% in the 3rd quarter. Creative Planning now owns 61,226 shares of the basic materials company’s stock worth $1,608,000 after purchasing an additional 11,898 shares during the period. International Assets Investment Management LLC bought a new stake in shares of ArcelorMittal in the 3rd quarter worth approximately $4,430,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of ArcelorMittal in the 3rd quarter worth approximately $642,000. Seascape Capital Management raised its holdings in shares of ArcelorMittal by 7.4% in the 3rd quarter. Seascape Capital Management now owns 26,170 shares of the basic materials company’s stock worth $687,000 after purchasing an additional 1,812 shares during the period. Finally, Atria Investments Inc bought a new stake in shares of ArcelorMittal in the 3rd quarter worth approximately $244,000. Hedge funds and other institutional investors own 9.29% of the company’s stock.

Analyst Ratings Changes

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

ArcelorMittal Trading Up 0.3 %

Shares of MT stock opened at $27.92 on Wednesday. The company’s fifty day simple moving average is $24.75 and its two-hundred day simple moving average is $24.42. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59. ArcelorMittal S.A. has a 1 year low of $20.52 and a 1 year high of $29.38. The stock has a market capitalization of $22.87 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 0.14 and a beta of 1.74.

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

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.