Clearbridge Investments LLC Trims Stake in ArcelorMittal S.A. (NYSE:MT)

Clearbridge Investments LLC decreased its holdings in ArcelorMittal S.A. (NYSE:MT) by 3.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,621,813 shares of the basic materials company’s stock after selling 83,078 shares during the quarter. Clearbridge Investments LLC’s holdings in ArcelorMittal were worth $72,310,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in shares of ArcelorMittal in the 1st quarter valued at about $2,705,000. Goldman Sachs Group Inc. increased its stake in shares of ArcelorMittal by 8.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 839,485 shares of the basic materials company’s stock valued at $23,833,000 after purchasing an additional 66,813 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of ArcelorMittal in the 4th quarter valued at about $5,160,000. PNC Financial Services Group Inc. boosted its holdings in ArcelorMittal by 24.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 4,115 shares of the basic materials company’s stock worth $117,000 after buying an additional 818 shares during the last quarter. Finally, Quantbot Technologies LP boosted its holdings in ArcelorMittal by 160.6% in the 1st quarter. Quantbot Technologies LP now owns 57,664 shares of the basic materials company’s stock worth $1,590,000 after buying an additional 35,535 shares during the last quarter. Institutional investors and hedge funds own 9.88% of the company’s stock.

ArcelorMittal Trading Down 1.3 %

NYSE MT traded down $0.30 on Wednesday, reaching $22.24. The stock had a trading volume of 1,808,247 shares, compared to its average volume of 1,584,859. ArcelorMittal S.A. has a 12-month low of $21.30 and a 12-month high of $29.15. The stock has a fifty day moving average price of $24.32 and a two-hundred day moving average price of $25.84. 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 market capitalization of $17.91 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 0.36 and a beta of 1.77.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.23. The business had revenue of $16.28 billion for the quarter, compared to analyst estimates of $16.67 billion. ArcelorMittal had a return on equity of 8.29% and a net margin of 1.15%. The company’s revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 earnings per share. As a group, sell-side analysts forecast that ArcelorMittal S.A. will post 3.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $31.00 price objective (down from $34.00) on shares of ArcelorMittal in a report on Tuesday, April 16th. The Goldman Sachs Group assumed coverage on ArcelorMittal in a report on Thursday, May 9th. They set a “neutral” rating and a $29.60 target price on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, ArcelorMittal presently has an average rating of “Hold” and an average target price 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.