ArcelorMittal S.A. (NYSE:MT) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its holdings in shares of ArcelorMittal S.A. (NYSE:MT) by 10.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 221,426 shares of the basic materials company’s stock after selling 24,575 shares during the quarter. Van ECK Associates Corp’s holdings in ArcelorMittal were worth $6,107,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Principal Securities Inc. acquired a new stake in shares of ArcelorMittal in the 4th quarter valued at about $25,000. GAMMA Investing LLC acquired a new stake in shares of ArcelorMittal in the 4th quarter valued at about $30,000. EverSource Wealth Advisors LLC boosted its position in shares of ArcelorMittal by 84.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,128 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 517 shares during the period. Blue Trust Inc. boosted its position in shares of ArcelorMittal by 336.3% in the 4th quarter. Blue Trust Inc. now owns 1,309 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 1,009 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in ArcelorMittal by 24.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,115 shares of the basic materials company’s stock valued at $117,000 after acquiring an additional 818 shares during the last quarter. 9.88% of the stock is owned by institutional investors and hedge funds.

ArcelorMittal Price Performance

Shares of MT traded down $0.04 on Friday, reaching $23.25. The stock had a trading volume of 530,902 shares, compared to its average volume of 1,578,238. The firm has a market capitalization of $18.72 billion, a PE ratio of 26.17, a PEG ratio of 0.38 and a beta of 1.77. The company has a quick ratio of 0.65, a current ratio of 1.55 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average of $25.00 and a 200 day moving average of $26.36. ArcelorMittal S.A. has a twelve month low of $21.30 and a twelve month high of $29.15.

ArcelorMittal (NYSE:MT) last announced its earnings results on Thursday, May 2nd. The basic materials company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.23. The firm had revenue of $16.28 billion for the quarter, compared to analysts’ expectations of $16.67 billion. ArcelorMittal had a return on equity of 8.29% and a net margin of 1.15%. ArcelorMittal’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 EPS. Sell-side analysts expect that ArcelorMittal S.A. will post 3.83 EPS for the current year.

ArcelorMittal Dividend Announcement

The business also recently announced a Semi-Annual dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 17th were issued a dividend of $0.213 per share. The ex-dividend date was Thursday, May 16th. ArcelorMittal’s dividend payout ratio (DPR) is presently 48.31%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MT. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $31.00 target price (down from $34.00) on shares of ArcelorMittal in a research note on Tuesday, April 16th. The Goldman Sachs Group began coverage on ArcelorMittal in a report on Thursday, May 9th. They issued a “neutral” rating and a $29.60 price target on the stock. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, ArcelorMittal currently has a consensus rating of “Hold” and an average price target of $30.30.

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.