ArcelorMittal $MT Shares Sold by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. cut its stake in ArcelorMittal (NYSE:MT) by 60.7% in the third quarter, HoldingsChannel reports. The fund owned 9,519 shares of the basic materials company’s stock after selling 14,721 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in ArcelorMittal were worth $344,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in MT. State of Wyoming purchased a new stake in ArcelorMittal during the third quarter worth $36,000. Geneos Wealth Management Inc. increased its stake in shares of ArcelorMittal by 44.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 501 shares in the last quarter. Farther Finance Advisors LLC raised its holdings 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 worth $63,000 after purchasing an additional 1,396 shares during the period. CWM LLC grew its holdings in ArcelorMittal by 23.3% in the third quarter. CWM LLC now owns 1,826 shares of the basic materials company’s stock valued at $66,000 after purchasing an additional 345 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of ArcelorMittal by 268.6% in the second quarter. EverSource Wealth Advisors LLC now owns 2,422 shares of the basic materials company’s stock valued at $76,000 after buying an additional 1,765 shares in the last quarter. Institutional investors and hedge funds own 9.29% of the company’s stock.

ArcelorMittal Price Performance

NYSE:MT opened at $65.11 on Friday. The stock has a 50 day moving average price of $54.38 and a 200 day moving average price of $43.83. The stock has a market cap of $50.46 billion, a PE ratio of 15.88, a P/E/G ratio of 0.54 and a beta of 1.52. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.53 and a current ratio of 1.36. ArcelorMittal has a one year low of $23.19 and a one year high of $67.60.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, February 5th. The basic materials company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.56 by $0.30. ArcelorMittal had a return on equity of 5.27% and a net margin of 5.14%.The business had revenue of $14.97 billion for the quarter, compared to analyst estimates of $15.56 billion. During the same quarter in the previous year, the firm earned $0.52 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. Equities research analysts expect that ArcelorMittal will post 3.72 EPS for the current fiscal year.

ArcelorMittal Announces Dividend

The company also recently declared 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 is Friday, November 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. ArcelorMittal’s dividend payout ratio (DPR) is currently 12.44%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Citigroup reissued a “buy” rating on shares of ArcelorMittal in a research note on Friday, February 13th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of ArcelorMittal in a research report on Friday, February 6th. JPMorgan Chase & Co. upgraded shares of ArcelorMittal from a “neutral” rating to an “overweight” rating in a research report on Friday, November 7th. Wells Fargo & Company boosted their price objective on ArcelorMittal from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Friday, February 6th. Finally, Oddo Bhf upgraded ArcelorMittal from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 14th. Seven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, ArcelorMittal has a consensus rating of “Moderate Buy” and an average price target 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.