Oppenheimer Asset Management Inc. Cuts Stock Holdings in ArcelorMittal $MT

Oppenheimer Asset Management Inc. lowered its stake in shares of ArcelorMittal (NYSE:MT) by 19.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,678 shares of the basic materials company’s stock after selling 8,523 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in ArcelorMittal were worth $1,254,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. American Century Companies Inc. grew its stake in shares of ArcelorMittal by 39.1% in the 2nd quarter. American Century Companies Inc. now owns 392,644 shares of the basic materials company’s stock worth $12,400,000 after acquiring an additional 110,420 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in ArcelorMittal by 15.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 211,326 shares of the basic materials company’s stock worth $6,674,000 after purchasing an additional 28,915 shares in the last quarter. Sei Investments Co. increased its stake in ArcelorMittal by 13.3% in the 2nd quarter. Sei Investments Co. now owns 179,518 shares of the basic materials company’s stock valued at $5,669,000 after buying an additional 21,004 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of ArcelorMittal by 18.3% during the 2nd quarter. Quantinno Capital Management LP now owns 172,240 shares of the basic materials company’s stock worth $5,439,000 after buying an additional 26,672 shares in the last quarter. Finally, Arrow Capital Pty Ltd bought a new position in shares of ArcelorMittal during the 2nd quarter worth approximately $5,206,000. 9.29% of the stock is currently owned by institutional investors.

ArcelorMittal Stock Down 0.1%

Shares of NYSE MT opened at $61.53 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.36 and a quick ratio of 0.53. The stock has a market capitalization of $47.68 billion, a PE ratio of 15.01, a P/E/G ratio of 0.54 and a beta of 1.52. ArcelorMittal has a one year low of $23.19 and a one year high of $66.97. The business’s fifty day moving average price is $50.38 and its 200-day moving average price is $41.59.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Thursday, February 5th. The basic materials company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.30. The company had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.56 billion. ArcelorMittal had a return on equity of 5.27% and a net margin of 5.14%.The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.52 EPS. On average, equities research analysts anticipate that ArcelorMittal will post 3.72 EPS for the current year.

ArcelorMittal Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Friday, February 20th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, February 20th. ArcelorMittal’s dividend payout ratio is presently 11.46%.

Wall Street Analysts Forecast Growth

MT has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ArcelorMittal in a report on Wednesday, January 21st. JPMorgan Chase & Co. upgraded ArcelorMittal from a “neutral” rating to an “overweight” rating in a research note on Friday, November 7th. UBS Group lowered ArcelorMittal from a “buy” rating to a “neutral” rating in a research report on Monday, November 17th. Santander raised shares of ArcelorMittal from a “neutral” rating to an “outperform” rating in a report on Thursday, February 5th. Finally, Oddo Bhf upgraded shares of ArcelorMittal from a “neutral” rating to an “outperform” rating in a research report on Wednesday, January 14th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, ArcelorMittal presently has an average rating of “Moderate Buy” and an average target price of $51.98.

ArcelorMittal 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.