ArcelorMittal S.A. (NYSE:MT) Stake Lessened by Blue Trust Inc.

Blue Trust Inc. trimmed its stake in shares of ArcelorMittal S.A. (NYSE:MT) by 25.9% during the fourth quarter, HoldingsChannel reports. The fund owned 7,211 shares of the basic materials company’s stock after selling 2,524 shares during the quarter. Blue Trust Inc.’s holdings in ArcelorMittal were worth $167,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in MT. Geneos Wealth Management Inc. lifted its position in shares of ArcelorMittal by 89.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 536 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in ArcelorMittal during the 4th quarter worth approximately $233,000. Park Avenue Securities LLC acquired a new position in shares of ArcelorMittal in the 4th quarter worth approximately $212,000. GAMMA Investing LLC grew its position 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 worth $34,000 after acquiring an additional 595 shares in the last quarter. Finally, MML Investors Services LLC bought a new stake in shares of ArcelorMittal in the 3rd quarter valued at approximately $308,000. 9.29% of the stock is owned by institutional investors and hedge funds.

ArcelorMittal Stock Up 3.1 %

ArcelorMittal stock opened at $25.10 on Wednesday. The company has a 50-day simple moving average of $23.85 and a 200-day simple moving average of $23.77. ArcelorMittal S.A. has a one year low of $20.52 and a one year high of $28.95. The firm has a market capitalization of $20.56 billion, a P/E ratio of -17.80, a P/E/G ratio of 0.49 and a beta of 1.74. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.59 and a current ratio of 1.46.

ArcelorMittal (NYSE:MT) last issued its quarterly earnings results on Thursday, November 7th. The basic materials company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. The company had revenue of $15.20 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 8.5% compared to the same quarter last year. During the same period last year, the company earned $1.10 earnings per share. As a group, equities analysts expect that ArcelorMittal S.A. will post 2.73 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Bank of America raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $30.00 to $32.90 in a report on Thursday, November 14th. JPMorgan Chase & Co. downgraded shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research report on Friday, October 11th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, ArcelorMittal has an average rating of “Moderate Buy” and an average price target of $31.17.

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.