ArcelorMittal $MT Shares Sold by UBS Group AG

UBS Group AG trimmed its holdings in shares of ArcelorMittal (NYSE:MT) by 81.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 221,356 shares of the basic materials company’s stock after selling 960,002 shares during the quarter. UBS Group AG’s holdings in ArcelorMittal were worth $10,087,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of MT. Maple Rock Capital Partners Inc. acquired a new position in shares of ArcelorMittal during the third quarter valued at $41,399,000. Retirement Systems of Alabama acquired a new position in shares of ArcelorMittal during the fourth quarter valued at $30,721,000. Man Group plc acquired a new position in shares of ArcelorMittal during the third quarter valued at $11,720,000. Balyasny Asset Management L.P. increased its holdings in shares of ArcelorMittal by 202.2% during the third quarter. Balyasny Asset Management L.P. now owns 368,984 shares of the basic materials company’s stock valued at $13,339,000 after purchasing an additional 246,904 shares during the period. Finally, Bank of America Corp DE increased its holdings in shares of ArcelorMittal by 15.6% during the third quarter. Bank of America Corp DE now owns 947,909 shares of the basic materials company’s stock valued at $34,267,000 after purchasing an additional 128,045 shares during the period. 9.29% of the stock is owned by institutional investors and hedge funds.

ArcelorMittal Trading Down 5.7%

NYSE:MT opened at $60.17 on Friday. The company has a quick ratio of 0.54, a current ratio of 1.39 and a debt-to-equity ratio of 0.19. ArcelorMittal has a 1-year low of $29.62 and a 1-year high of $67.60. The firm has a market capitalization of $46.63 billion, a price-to-earnings ratio of 15.79, a price-to-earnings-growth ratio of 0.49 and a beta of 1.48. The stock has a fifty day simple moving average of $56.84 and a 200 day simple moving average of $51.79.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.04. ArcelorMittal had a return on equity of 4.77% and a net margin of 4.71%.The business had revenue of $15.46 billion during the quarter, compared to analyst estimates of $17.04 billion. During the same quarter last year, the company posted $1.05 EPS. ArcelorMittal’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts forecast that ArcelorMittal will post 4.67 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on MT shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of ArcelorMittal in a report on Friday, February 6th. KeyCorp began coverage on ArcelorMittal in a report on Wednesday, March 25th. They set a “sector weight” rating on the stock. Santander lowered ArcelorMittal from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 21st. Citigroup reaffirmed a “buy” rating on shares of ArcelorMittal in a report on Friday, February 13th. Finally, Wells Fargo & Company lifted their target price on ArcelorMittal from $60.00 to $61.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.07.

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.