UBS Group AG Trims Holdings in ArcelorMittal $MT

UBS Group AG reduced its position in shares of ArcelorMittal (NYSE:MT) by 81.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 221,356 shares of the basic materials company’s stock after selling 960,002 shares during the period. UBS Group AG’s holdings in ArcelorMittal were worth $10,087,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Concurrent Investment Advisors LLC acquired a new stake in shares of ArcelorMittal during the 4th quarter valued at approximately $242,000. Optas LLC acquired a new stake in shares of ArcelorMittal during the 4th quarter valued at approximately $258,000. Evergreen Capital Management LLC raised its position in shares of ArcelorMittal by 14.0% during the 4th quarter. Evergreen Capital Management LLC now owns 17,744 shares of the basic materials company’s stock valued at $809,000 after acquiring an additional 2,177 shares in the last quarter. TD Waterhouse Canada Inc. raised its position in shares of ArcelorMittal by 11.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 2,141 shares of the basic materials company’s stock valued at $98,000 after acquiring an additional 216 shares in the last quarter. Finally, Fractal Investments LLC acquired a new stake in shares of ArcelorMittal during the 4th quarter valued at approximately $219,000. 9.29% of the stock is owned by institutional investors and hedge funds.

ArcelorMittal Price Performance

Shares of NYSE MT opened at $60.17 on Friday. ArcelorMittal has a 1-year low of $29.62 and a 1-year high of $67.60. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.39 and a quick ratio of 0.54. The business’s fifty day moving average price is $56.84 and its two-hundred day moving average price is $51.79. The firm has a market capitalization of $46.63 billion, a PE ratio of 15.79, a P/E/G ratio of 0.49 and a beta of 1.48.

ArcelorMittal (NYSE:MT) last issued its earnings results on Thursday, April 30th. The basic materials company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.04. ArcelorMittal had a return on equity of 4.77% and a net margin of 4.71%.The firm had revenue of $15.46 billion for the quarter, compared to analyst estimates of $17.04 billion. During the same period last year, the company earned $1.05 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts expect that ArcelorMittal will post 4.67 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MT. Jefferies Financial Group raised ArcelorMittal from a “hold” rating to a “buy” rating and upped their price target for the company from $51.10 to $73.20 in a research report on Wednesday, February 11th. Weiss Ratings raised ArcelorMittal from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. Morgan Stanley reissued an “overweight” rating on shares of ArcelorMittal in a research report on Tuesday, February 17th. KeyCorp began coverage on ArcelorMittal in a research report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Finally, Citigroup reissued a “buy” rating on shares of ArcelorMittal in a research report on Friday, February 13th. Six investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, ArcelorMittal currently has a consensus rating of “Hold” and an average price target of $61.07.

ArcelorMittal Profile

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.