Wellington Management Group LLP Sells 175,487 Shares of ArcelorMittal S.A. (NYSE:MT)

Wellington Management Group LLP trimmed its position in shares of ArcelorMittal S.A. (NYSE:MT) by 47.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 195,317 shares of the basic materials company’s stock after selling 175,487 shares during the quarter. Wellington Management Group LLP’s holdings in ArcelorMittal were worth $5,545,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its position in ArcelorMittal by 8.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 839,485 shares of the basic materials company’s stock worth $23,833,000 after buying an additional 66,813 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of ArcelorMittal during the fourth quarter worth approximately $5,160,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of ArcelorMittal by 6.9% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 19,515 shares of the basic materials company’s stock valued at $542,000 after purchasing an additional 1,267 shares during the last quarter. Citigroup Inc. increased its holdings in shares of ArcelorMittal by 38.2% in the third quarter. Citigroup Inc. now owns 12,356 shares of the basic materials company’s stock valued at $309,000 after purchasing an additional 3,413 shares in the last quarter. Finally, Natixis Advisors L.P. raised its position in ArcelorMittal by 22.9% in the 4th quarter. Natixis Advisors L.P. now owns 31,790 shares of the basic materials company’s stock worth $902,000 after purchasing an additional 5,933 shares during the last quarter. Institutional investors and hedge funds own 9.88% of the company’s stock.

ArcelorMittal Stock Performance

MT stock opened at $22.93 on Friday. ArcelorMittal S.A. has a twelve month low of $21.30 and a twelve month high of $29.15. 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 company has a market cap of $18.47 billion, a P/E ratio of 25.76, a price-to-earnings-growth ratio of 0.37 and a beta of 1.83. The business’s fifty day moving average is $25.19 and its 200-day moving average is $26.46.

ArcelorMittal (NYSE:MT) last released its earnings results on Thursday, May 2nd. The basic materials company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.23. The firm 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 quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.27 earnings per share. Equities research analysts forecast that ArcelorMittal S.A. will post 3.83 EPS for the current year.

ArcelorMittal Dividend Announcement

The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, June 12th. Investors of record on Friday, May 17th were issued a dividend of $0.213 per share. The ex-dividend date of this dividend was Thursday, May 16th. ArcelorMittal’s dividend payout ratio is currently 47.19%.

Wall Street Analyst Weigh In

A number of research analysts have commented on MT shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $31.00 price objective (down from $34.00) on shares of ArcelorMittal in a research report on Tuesday, April 16th. The Goldman Sachs Group started coverage on ArcelorMittal in a report on Thursday, May 9th. They issued a “neutral” rating and a $29.60 price target on the stock. Finally, StockNews.com cut ArcelorMittal from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, ArcelorMittal currently has a consensus rating of “Hold” and a consensus price target of $30.30.

About ArcelorMittal

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.