ArcelorMittal S.A. (NYSE:MT) Shares Sold by US Bancorp DE

US Bancorp DE lessened its holdings in ArcelorMittal S.A. (NYSE:MT) by 9.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 14,368 shares of the basic materials company’s stock after selling 1,528 shares during the period. US Bancorp DE’s holdings in ArcelorMittal were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Sei Investments Co. raised its position in ArcelorMittal by 24.1% during the first quarter. Sei Investments Co. now owns 18,281 shares of the basic materials company’s stock valued at $504,000 after acquiring an additional 3,553 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of ArcelorMittal during the 1st quarter valued at approximately $71,000. QRG Capital Management Inc. lifted its stake in shares of ArcelorMittal by 7.4% in the 1st quarter. QRG Capital Management Inc. now owns 86,699 shares of the basic materials company’s stock valued at $2,391,000 after purchasing an additional 5,996 shares during the period. MMCAP International Inc. SPC boosted its holdings in ArcelorMittal by 103.4% during the first quarter. MMCAP International Inc. SPC now owns 650,820 shares of the basic materials company’s stock worth $17,950,000 after buying an additional 330,820 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. acquired a new stake in ArcelorMittal during the first quarter valued at $36,406,000. 9.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MT shares. JPMorgan Chase & Co. cut ArcelorMittal from an “overweight” rating to a “neutral” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft upgraded ArcelorMittal from a “hold” rating to a “buy” rating and boosted their price objective for the company from $29.00 to $31.00 in a research report on Wednesday, August 28th. Finally, Barclays upgraded ArcelorMittal from an “equal weight” rating to an “overweight” rating in a research report on Monday, August 19th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, ArcelorMittal presently has a consensus rating of “Hold” and an average target price of $30.30.

ArcelorMittal Trading Down 3.9 %

Shares of NYSE MT opened at $24.34 on Wednesday. The company has a current ratio of 1.53, a quick ratio of 0.66 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $19.60 billion, a PE ratio of -18.16, a PEG ratio of 0.57 and a beta of 1.77. ArcelorMittal S.A. has a twelve month low of $20.52 and a twelve month high of $29.01. The stock has a fifty day simple moving average of $24.28 and a 200-day simple moving average of $24.05.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.05. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%. The company had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.11 billion. During the same quarter last year, the company earned $1.10 EPS. ArcelorMittal’s revenue for the quarter was down 8.5% compared to the same quarter last year. On average, equities analysts forecast that ArcelorMittal S.A. will post 2.95 earnings per share for the current year.

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.