Cubist Systematic Strategies LLC Sells 66,336 Shares of ArcelorMittal (NYSE:MT)

Cubist Systematic Strategies LLC lowered its holdings in ArcelorMittal (NYSE:MT) by 83.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,800 shares of the basic materials company’s stock after selling 66,336 shares during the period. Cubist Systematic Strategies LLC’s holdings in ArcelorMittal were worth $398,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bessemer Group Inc. boosted its holdings in ArcelorMittal by 27.8% in the 2nd quarter. Bessemer Group Inc. now owns 1,332 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 290 shares during the period. Profund Advisors LLC lifted its holdings in shares of ArcelorMittal by 2.7% during the 2nd quarter. Profund Advisors LLC now owns 21,693 shares of the basic materials company’s stock worth $674,000 after acquiring an additional 579 shares during the period. Advisor Partners LLC boosted its position in shares of ArcelorMittal by 5.0% during the 1st quarter. Advisor Partners LLC now owns 14,229 shares of the basic materials company’s stock worth $415,000 after acquiring an additional 673 shares in the last quarter. Stifel Financial Corp increased its stake in ArcelorMittal by 1.6% in the second quarter. Stifel Financial Corp now owns 50,141 shares of the basic materials company’s stock valued at $1,557,000 after acquiring an additional 787 shares during the last quarter. Finally, Personal CFO Solutions LLC raised its position in ArcelorMittal by 11.0% during the second quarter. Personal CFO Solutions LLC now owns 9,094 shares of the basic materials company’s stock valued at $282,000 after purchasing an additional 898 shares in the last quarter. 45.35% of the stock is owned by hedge funds and other institutional investors.

Several brokerages have recently issued reports on MT. KeyCorp lifted their price target on ArcelorMittal from $37.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, July 30th. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of ArcelorMittal in a research note on Friday, November 12th. Zacks Investment Research lowered ArcelorMittal from a “buy” rating to a “hold” rating and set a $34.00 price target on the stock. in a research note on Monday, October 18th. Morgan Stanley reissued an “overweight” rating on shares of ArcelorMittal in a report on Wednesday, September 29th. Finally, Barclays reissued an “overweight” rating on shares of ArcelorMittal in a report on Tuesday, September 14th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, ArcelorMittal presently has an average rating of “Buy” and a consensus target price of $40.38.

Shares of NYSE:MT opened at $29.18 on Thursday. The company has a market capitalization of $28.68 billion, a price-to-earnings ratio of 2.77, a P/E/G ratio of 1.46 and a beta of 2.04. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.42 and a quick ratio of 0.61. The business’s 50-day moving average is $31.22 and its 200-day moving average is $32.07. ArcelorMittal has a 1 year low of $18.10 and a 1 year high of $36.58.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Wednesday, November 10th. The basic materials company reported $4.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.17 by ($0.01). The business had revenue of $20.23 billion during the quarter, compared to analyst estimates of $22.44 billion. ArcelorMittal had a net margin of 17.32% and a return on equity of 25.32%. During the same period in the prior year, the firm earned ($0.15) earnings per share. Analysts anticipate that ArcelorMittal will post 13.4 EPS for the current year.

ArcelorMittal Company Profile

ArcelorMittal SA is a holding company, which engages in steelmaking and mining activities. It operates through the following business segments: NAFTA, Brazil, Europe, Africa and Commonwealth of Independent States (ACIS), Mining, and Others. The NAFTA segment consists of flat products such as slabs, hot-rolled coil, cold-rolled coil, coated steel, and plate.

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Institutional Ownership by Quarter for ArcelorMittal (NYSE:MT)

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