Two Sigma Investments LP Decreases Holdings in ArcelorMittal S.A. (NYSE:MT)

Two Sigma Investments LP reduced its holdings in shares of ArcelorMittal S.A. (NYSE:MT) by 20.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,422,563 shares of the basic materials company’s stock after selling 363,669 shares during the quarter. Two Sigma Investments LP’s holdings in ArcelorMittal were worth $32,904,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in MT. Geneos Wealth Management Inc. lifted its position in ArcelorMittal by 89.6% in the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 536 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of ArcelorMittal by 76.2% during the fourth quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company’s stock worth $113,000 after purchasing an additional 2,110 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of ArcelorMittal by 76.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company’s stock worth $137,000 after purchasing an additional 2,586 shares in the last quarter. Callan Family Office LLC purchased a new stake in shares of ArcelorMittal in the 4th quarter valued at about $207,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of ArcelorMittal by 23.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,076 shares of the basic materials company’s stock valued at $210,000 after purchasing an additional 1,702 shares during the period. Hedge funds and other institutional investors own 9.29% of the company’s stock.

ArcelorMittal Stock Performance

Shares of MT stock opened at $31.17 on Wednesday. The stock’s 50-day moving average price is $29.17 and its 200 day moving average price is $26.87. The company has a quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $25.54 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 0.14 and a beta of 1.62. ArcelorMittal S.A. has a 52-week low of $20.52 and a 52-week high of $34.90.

ArcelorMittal (NYSE:MT) last announced its earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.33. The company had revenue of $14.80 billion for the quarter, compared to the consensus estimate of $15.11 billion. ArcelorMittal had a return on equity of 4.31% and a net margin of 2.14%. The company’s revenue was down 9.1% on a year-over-year basis. During the same period last year, the business posted $1.16 EPS. As a group, equities research analysts forecast that ArcelorMittal S.A. will post 3.72 EPS for the current year.

ArcelorMittal Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, June 11th. Investors of record on Monday, May 19th will be given a $0.2338 dividend. The ex-dividend date is Friday, May 16th. This represents a yield of 1.44%. ArcelorMittal’s dividend payout ratio (DPR) is 30.07%.

Analyst Ratings Changes

MT has been the topic of several research analyst reports. Morgan Stanley lowered ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research report on Friday, February 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of ArcelorMittal in a report on Monday, April 14th. The Goldman Sachs Group raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and lifted their target price for the company from $29.00 to $31.70 in a report on Thursday, April 10th. Finally, Jefferies Financial Group cut shares of ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 price target for the company. in a research note on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, ArcelorMittal presently has a consensus rating of “Moderate Buy” and an average target price of $32.95.

ArcelorMittal Profile

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.