Vestmark Advisory Solutions Inc. Decreases Position in ArcelorMittal $MT

Vestmark Advisory Solutions Inc. decreased its stake in ArcelorMittal (NYSE:MT) by 60.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,519 shares of the basic materials company’s stock after selling 14,721 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in ArcelorMittal were worth $344,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. State of Wyoming bought a new stake in shares of ArcelorMittal in the 3rd quarter worth about $36,000. Geneos Wealth Management Inc. lifted its stake in shares of ArcelorMittal by 44.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 501 shares during the last quarter. Farther Finance Advisors LLC grew its position in ArcelorMittal by 392.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,752 shares of the basic materials company’s stock valued at $63,000 after acquiring an additional 1,396 shares during the last quarter. CWM LLC increased its stake in ArcelorMittal by 23.3% in the third quarter. CWM LLC now owns 1,826 shares of the basic materials company’s stock worth $66,000 after purchasing an additional 345 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of ArcelorMittal by 268.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,422 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 1,765 shares during the period. Institutional investors own 9.29% of the company’s stock.

ArcelorMittal Trading Down 1.2%

ArcelorMittal stock opened at $65.11 on Friday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.53 and a current ratio of 1.36. The stock has a market cap of $50.46 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 0.54 and a beta of 1.52. The stock has a 50-day moving average of $54.38 and a two-hundred day moving average of $43.83. ArcelorMittal has a one year low of $23.19 and a one year high of $67.60.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Thursday, February 5th. The basic materials company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.56 by $0.30. The firm had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.56 billion. ArcelorMittal had a net margin of 5.14% and a return on equity of 5.27%. ArcelorMittal’s revenue was up 1.7% on a year-over-year basis. During the same period last year, the firm posted $0.52 EPS. On average, research analysts anticipate that ArcelorMittal will post 3.72 EPS for the current fiscal year.

ArcelorMittal Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Friday, November 13th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. ArcelorMittal’s payout ratio is 12.44%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating and lifted their price objective for the company from $51.10 to $73.20 in a report on Wednesday, February 11th. UBS Group downgraded ArcelorMittal from a “buy” rating to a “neutral” rating in a report on Monday, November 17th. JPMorgan Chase & Co. raised shares of ArcelorMittal from a “neutral” rating to an “overweight” rating in a research report on Friday, November 7th. Oddo Bhf raised shares of ArcelorMittal from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 14th. Finally, Citigroup reiterated a “buy” rating on shares of ArcelorMittal in a report on Friday, February 13th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, ArcelorMittal currently has an average rating of “Moderate Buy” and a consensus target price of $51.98.

ArcelorMittal Company 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.