GTS Securities LLC Lowers Stake in ArcelorMittal S.A. (NYSE:MT)

GTS Securities LLC trimmed its stake in ArcelorMittal S.A. (NYSE:MT) by 26.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 68,165 shares of the basic materials company’s stock after selling 24,215 shares during the quarter. GTS Securities LLC’s holdings in ArcelorMittal were worth $1,577,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of MT. Bank of New York Mellon Corp grew its holdings in ArcelorMittal by 221.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company’s stock valued at $78,712,000 after purchasing an additional 2,344,020 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in ArcelorMittal by 146.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,535,319 shares of the basic materials company’s stock valued at $35,512,000 after purchasing an additional 912,984 shares during the period. ABC Arbitrage SA purchased a new stake in ArcelorMittal in the fourth quarter valued at approximately $9,895,000. OLD Mission Capital LLC grew its holdings in ArcelorMittal by 145.8% in the fourth quarter. OLD Mission Capital LLC now owns 678,350 shares of the basic materials company’s stock valued at $15,690,000 after purchasing an additional 402,402 shares during the period. Finally, Bank of America Corp DE grew its holdings in ArcelorMittal by 56.7% in the fourth quarter. Bank of America Corp DE now owns 784,252 shares of the basic materials company’s stock valued at $18,140,000 after purchasing an additional 283,758 shares during the period. 9.29% of the stock is currently owned by hedge funds and other institutional investors.

ArcelorMittal Price Performance

MT opened at $30.39 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.35 and a debt-to-equity ratio of 0.17. ArcelorMittal S.A. has a 52-week low of $20.52 and a 52-week high of $34.90. The company has a 50 day moving average of $29.06 and a two-hundred day moving average of $26.97. The company has a market cap of $24.89 billion, a P/E ratio of 18.42, a P/E/G ratio of 0.14 and a beta of 1.62.

ArcelorMittal (NYSE:MT) last posted its earnings results on Wednesday, April 30th. The basic materials company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.33. ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. The business had revenue of $14.80 billion for the quarter, compared to analysts’ expectations of $15.11 billion. During the same period in the previous year, the company posted $1.16 earnings per share. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. On average, analysts expect that ArcelorMittal S.A. will post 3.72 earnings per share for the current year.

ArcelorMittal Cuts Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MT shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of ArcelorMittal in a report on Monday, April 14th. Jefferies Financial Group downgraded shares of ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 price objective for the company. in a research note on Wednesday, March 26th. Morgan Stanley downgraded shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 14th. Finally, The Goldman Sachs Group upgraded shares of ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $29.00 to $31.70 in a research note on Thursday, April 10th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.95.

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.