Sei Investments Co. Has $6.80 Million Stock Position in ArcelorMittal $MT

Sei Investments Co. lessened its stake in shares of ArcelorMittal (NYSE:MT) by 18.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,770 shares of the basic materials company’s stock after selling 29,905 shares during the quarter. Sei Investments Co.’s holdings in ArcelorMittal were worth $6,798,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in ArcelorMittal during the 4th quarter worth approximately $44,000. Geneos Wealth Management Inc. grew its stake in ArcelorMittal by 44.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 501 shares during the period. Allworth Financial LP increased its holdings in shares of ArcelorMittal by 91.5% during the fourth quarter. Allworth Financial LP now owns 1,126 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 538 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of ArcelorMittal by 126.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,146 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 640 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in shares of ArcelorMittal by 268.6% during the second quarter. EverSource Wealth Advisors LLC now owns 2,422 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 1,765 shares during the period. 9.29% of the stock is currently owned by institutional investors and hedge funds.

ArcelorMittal Price Performance

Shares of NYSE:MT opened at $71.67 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 0.57 and a debt-to-equity ratio of 0.21. The stock has a market cap of $55.54 billion, a PE ratio of 30.37, a price-to-earnings-growth ratio of 0.55 and a beta of 1.55. The stock’s fifty day simple moving average is $66.15 and its two-hundred day simple moving average is $60.89. ArcelorMittal has a 1-year low of $30.36 and a 1-year high of $72.50.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MT shares. Citigroup reissued a “buy” rating on shares of ArcelorMittal in a research report on Wednesday, May 20th. JPMorgan Chase & Co. upgraded shares of ArcelorMittal from an “underweight” rating to a “neutral” rating in a report on Friday, July 10th. Jefferies Financial Group reaffirmed a “buy” rating on shares of ArcelorMittal in a research note on Monday, July 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of ArcelorMittal in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $75.00 target price on shares of ArcelorMittal in a report on Friday. Six analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, ArcelorMittal currently has a consensus rating of “Moderate Buy” and an average price target of $72.40.

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.