Towle & Co. Decreases Stock Holdings in ArcelorMittal S.A. (NYSE:MT)

Towle & Co. lowered its holdings in shares of ArcelorMittal S.A. (NYSE:MT) by 5.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 481,258 shares of the basic materials company’s stock after selling 29,108 shares during the quarter. ArcelorMittal comprises 1.9% of Towle & Co.’s portfolio, making the stock its 28th largest holding. Towle & Co.’s holdings in ArcelorMittal were worth $11,131,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Geneos Wealth Management Inc. lifted its position in ArcelorMittal by 89.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 536 shares during the last quarter. BNP Paribas Financial Markets increased its position in ArcelorMittal by 76.2% during the fourth quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company’s stock valued at $113,000 after acquiring an additional 2,110 shares during the last quarter. Smartleaf Asset Management LLC increased its position in ArcelorMittal by 76.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company’s stock valued at $137,000 after acquiring an additional 2,586 shares during the last quarter. Callan Family Office LLC bought a new position in ArcelorMittal during the fourth quarter valued at $207,000. Finally, PNC Financial Services Group Inc. increased its position in ArcelorMittal by 23.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 9,076 shares of the basic materials company’s stock valued at $210,000 after acquiring an additional 1,702 shares during the last quarter. Institutional investors own 9.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of ArcelorMittal in a research report on Monday, April 14th. Morgan Stanley cut shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a report on Friday, February 14th. The Goldman Sachs Group upgraded shares of ArcelorMittal from a “neutral” rating to a “buy” rating and upped their price target for the stock from $29.00 to $31.70 in a report on Thursday, April 10th. Finally, Jefferies Financial Group cut shares of ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 price target on the stock. in a report on Wednesday, March 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $32.95.

ArcelorMittal Price Performance

Shares of NYSE:MT opened at $30.71 on Monday. ArcelorMittal S.A. has a twelve month low of $20.52 and a twelve month high of $34.90. The company’s 50 day moving average is $29.15 and its 200 day moving average is $26.80. 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 cap of $25.16 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 0.14 and a beta of 1.62.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.33. ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. The company had revenue of $14.80 billion for the quarter, compared to the consensus estimate of $15.11 billion. During the same quarter in the prior year, the company earned $1.16 EPS. ArcelorMittal’s quarterly revenue was down 9.1% on a year-over-year basis. On average, sell-side analysts forecast that ArcelorMittal S.A. will post 3.72 EPS for the current year.

ArcelorMittal Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th will be paid a dividend of $0.2338 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a dividend yield of 1.44%. ArcelorMittal’s payout ratio is 30.07%.

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.