ArcelorMittal S.A. (NYSE:MT) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management trimmed its stake in shares of ArcelorMittal S.A. (NYSE:MT) by 9.9% in the 4th quarter, HoldingsChannel reports. The firm owned 13,052 shares of the basic materials company’s stock after selling 1,442 shares during the period. Ritholtz Wealth Management’s holdings in ArcelorMittal were worth $302,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in shares of ArcelorMittal by 68.5% in the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock valued at $34,000 after buying an additional 595 shares during the period. Park Avenue Securities LLC purchased a new position in ArcelorMittal during the 4th quarter worth $212,000. Atria Investments Inc acquired a new position in ArcelorMittal in the third quarter valued at $244,000. Rhumbline Advisers raised its holdings in shares of ArcelorMittal by 6.8% in the second quarter. Rhumbline Advisers now owns 9,633 shares of the basic materials company’s stock valued at $221,000 after buying an additional 610 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of ArcelorMittal by 382.9% during the third quarter. Blue Trust Inc. now owns 9,735 shares of the basic materials company’s stock worth $256,000 after buying an additional 7,719 shares during the period. Hedge funds and other institutional investors own 9.29% of the company’s stock.

ArcelorMittal Price Performance

Shares of MT opened at $23.94 on Wednesday. The company has a current ratio of 1.46, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. The stock’s 50 day moving average is $23.94 and its two-hundred day moving average is $23.67. ArcelorMittal S.A. has a twelve month low of $20.52 and a twelve month high of $28.95. The firm has a market capitalization of $19.61 billion, a PE ratio of -16.98, a P/E/G ratio of 0.45 and a beta of 1.75.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The firm had revenue of $15.20 billion for the quarter, compared to the consensus estimate of $15.11 billion. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.10 earnings per share. Research analysts anticipate that ArcelorMittal S.A. will post 2.79 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on the company. JPMorgan Chase & Co. downgraded ArcelorMittal from an “overweight” rating to a “neutral” rating in a research note on Friday, October 11th. Bank of America upgraded 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. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” 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.