Arrowstreet Capital Limited Partnership Sells 290,858 Shares of ArcelorMittal S.A. (NYSE:MT)

Arrowstreet Capital Limited Partnership decreased its stake in ArcelorMittal S.A. (NYSE:MT) by 32.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 609,982 shares of the basic materials company’s stock after selling 290,858 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in ArcelorMittal were worth $14,109,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Orion Portfolio Solutions LLC acquired a new position in ArcelorMittal during the fourth quarter worth $259,000. LPL Financial LLC grew its position in shares of ArcelorMittal by 296.1% in the 4th quarter. LPL Financial LLC now owns 77,359 shares of the basic materials company’s stock valued at $1,789,000 after acquiring an additional 57,829 shares during the period. Sei Investments Co. increased its stake in shares of ArcelorMittal by 31.8% during the 4th quarter. Sei Investments Co. now owns 171,615 shares of the basic materials company’s stock worth $3,969,000 after purchasing an additional 41,435 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of ArcelorMittal by 4.8% in the 4th quarter. American Century Companies Inc. now owns 280,838 shares of the basic materials company’s stock valued at $6,496,000 after purchasing an additional 12,929 shares during the period. Finally, Signaturefd LLC grew its holdings in ArcelorMittal by 7.8% during the fourth quarter. Signaturefd LLC now owns 32,363 shares of the basic materials company’s stock worth $749,000 after purchasing an additional 2,352 shares during the period. Institutional investors and hedge funds own 9.29% of the company’s stock.

ArcelorMittal Stock Performance

NYSE:MT opened at $24.75 on Friday. The stock has a 50 day simple moving average of $28.99 and a 200 day simple moving average of $25.93. The stock has a market cap of $20.28 billion, a P/E ratio of 15.00, a PEG ratio of 0.14 and a beta of 1.79. ArcelorMittal S.A. has a 1-year low of $20.52 and a 1-year high of $34.90. The company has a current ratio of 1.35, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17.

ArcelorMittal (NYSE:MT) last announced its earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share (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%. Research analysts anticipate that ArcelorMittal S.A. will post 3.72 earnings per share for the current year.

ArcelorMittal Announces Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, December 3rd. Stockholders of record on Thursday, November 13th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a dividend yield of 1.5%. ArcelorMittal’s dividend payout ratio is presently 27.88%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MT. Morgan Stanley lowered ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 14th. Jefferies Financial Group downgraded shares of ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 price objective on the stock. in a report on Wednesday, March 26th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $32.43.

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.