Seascape Capital Management Sells 15,293 Shares of ArcelorMittal S.A. (NYSE:MT)

Seascape Capital Management cut its holdings in shares of ArcelorMittal S.A. (NYSE:MT) by 58.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,877 shares of the basic materials company’s stock after selling 15,293 shares during the period. Seascape Capital Management’s holdings in ArcelorMittal were worth $252,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. FMR LLC increased its stake in shares of ArcelorMittal by 46.7% during the third quarter. FMR LLC now owns 1,317,833 shares of the basic materials company’s stock valued at $34,606,000 after buying an additional 419,465 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of ArcelorMittal by 90.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 622,335 shares of the basic materials company’s stock valued at $16,343,000 after buying an additional 295,682 shares during the period. Cerity Partners LLC increased its stake in shares of ArcelorMittal by 128.0% during the third quarter. Cerity Partners LLC now owns 464,315 shares of the basic materials company’s stock valued at $12,193,000 after buying an additional 260,633 shares during the period. ABC Arbitrage SA purchased a new position in shares of ArcelorMittal during the fourth quarter valued at approximately $9,895,000. Finally, JB Capital Partners LP increased its stake in shares of ArcelorMittal by 17.1% during the third quarter. JB Capital Partners LP now owns 205,000 shares of the basic materials company’s stock valued at $5,383,000 after buying an additional 30,000 shares during the period. 9.29% of the stock is owned by hedge funds and other institutional investors.

ArcelorMittal Price Performance

Shares of MT stock opened at $28.58 on Friday. The stock has a market cap of $23.41 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.56 and a beta of 1.74. The business’s fifty day moving average is $24.33 and its 200 day moving average is $24.07. ArcelorMittal S.A. has a twelve month low of $20.52 and a twelve month high of $29.38. The company has a quick ratio of 0.59, a current ratio of 1.46 and a debt-to-equity ratio of 0.16.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.09). ArcelorMittal had a return on equity of 4.24% and a net margin of 2.14%. Research analysts expect that ArcelorMittal S.A. will post 3.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MT shares. Morgan Stanley cut ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Friday. Bank of America raised ArcelorMittal from a “neutral” rating to a “buy” rating and upped their price target for the stock from $30.00 to $32.90 in a research note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $31.17.

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.