ArcelorMittal $MT Shares Sold by Causeway Capital Management LLC

Causeway Capital Management LLC cut its stake in shares of ArcelorMittal (NYSE:MT) by 24.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 586,831 shares of the basic materials company’s stock after selling 189,871 shares during the quarter. Causeway Capital Management LLC’s holdings in ArcelorMittal were worth $21,214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in ArcelorMittal by 75.0% during the 1st quarter. AQR Capital Management LLC now owns 34,038 shares of the basic materials company’s stock worth $982,000 after acquiring an additional 14,593 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of ArcelorMittal by 44.2% in the first quarter. Geneos Wealth Management Inc. now owns 1,635 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 501 shares during the last quarter. Atria Investments Inc raised its stake in shares of ArcelorMittal by 10.7% in the second quarter. Atria Investments Inc now owns 7,966 shares of the basic materials company’s stock worth $252,000 after purchasing an additional 767 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of ArcelorMittal by 1.1% during the second quarter. Bank of Montreal Can now owns 148,590 shares of the basic materials company’s stock worth $4,692,000 after purchasing an additional 1,580 shares during the period. Finally, Vestmark Advisory Solutions Inc. boosted its position in ArcelorMittal by 46.4% in the second quarter. Vestmark Advisory Solutions Inc. now owns 24,240 shares of the basic materials company’s stock valued at $765,000 after buying an additional 7,684 shares during the last quarter. Hedge funds and other institutional investors own 9.29% of the company’s stock.

Wall Street Analyst Weigh In

MT has been the subject of several recent research reports. UBS Group cut shares of ArcelorMittal from a “buy” rating to a “neutral” rating in a report on Monday, November 17th. Citigroup reaffirmed 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 note on Friday, February 6th. Morgan Stanley reissued an “overweight” rating on shares of ArcelorMittal in a report on Tuesday, February 17th. Finally, JPMorgan Chase & Co. lowered ArcelorMittal from an “overweight” rating to an “underweight” rating in a report on Monday. Six research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, ArcelorMittal currently has an average rating of “Hold” and an average price target of $51.98.

ArcelorMittal Trading Up 0.8%

MT stock opened at $55.84 on Tuesday. The business’s 50-day moving average is $56.02 and its 200 day moving average is $45.03. ArcelorMittal has a 12-month low of $23.19 and a 12-month high of $67.60. The stock has a market cap of $43.28 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 0.45 and a beta of 1.47. The company has a current ratio of 1.36, a quick ratio of 0.53 and a debt-to-equity ratio of 0.19.

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

ArcelorMittal Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 2nd. Investors of record on Friday, November 13th will be given 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 yield of 1.1%. ArcelorMittal’s payout ratio is presently 12.44%.

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.