Sei Investments Co. Decreases Holdings in ArcelorMittal $MT

Sei Investments Co. trimmed its holdings in shares of ArcelorMittal (NYSE:MT) by 18.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 130,770 shares of the basic materials company’s stock after selling 29,905 shares during the period. Sei Investments Co.’s holdings in ArcelorMittal were worth $6,798,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cetera Investment Advisers grew its position in ArcelorMittal by 1.0% during the fourth quarter. Cetera Investment Advisers now owns 18,386 shares of the basic materials company’s stock valued at $838,000 after buying an additional 190 shares during the period. TD Waterhouse Canada Inc. boosted its stake in ArcelorMittal by 11.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,141 shares of the basic materials company’s stock valued at $98,000 after acquiring an additional 216 shares during the last quarter. Aaron Wealth Advisors LLC boosted its stake in ArcelorMittal by 4.9% in the first quarter. Aaron Wealth Advisors LLC now owns 5,671 shares of the basic materials company’s stock valued at $295,000 after acquiring an additional 263 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of ArcelorMittal by 16.4% during the 4th quarter. Parallel Advisors LLC now owns 2,455 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 346 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of ArcelorMittal by 1.3% in the 4th quarter. Signaturefd LLC now owns 34,025 shares of the basic materials company’s stock worth $1,551,000 after purchasing an additional 448 shares during the period. 9.29% of the stock is owned by hedge funds and other institutional investors.

ArcelorMittal Trading Up 2.2%

Shares of MT stock opened at $71.67 on Tuesday. The company’s fifty day simple moving average is $66.15 and its two-hundred day simple moving average is $60.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.43 and a quick ratio of 0.57. ArcelorMittal has a 1 year low of $30.36 and a 1 year high of $72.50. The stock has a market capitalization of $55.54 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 0.55 and a beta of 1.55.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on MT. Santander lowered ArcelorMittal from an “outperform” rating to a “neutral” rating in a report on Tuesday, April 21st. Citigroup restated a “buy” rating on shares of ArcelorMittal in a research note on Wednesday, May 20th. Wells Fargo & Company increased their price target on ArcelorMittal from $62.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $75.00 price objective on shares of ArcelorMittal in a report on Friday. Finally, JPMorgan Chase & Co. upgraded ArcelorMittal from an “underweight” rating to a “neutral” rating in a research note on Friday, July 10th. Six analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $72.40.

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.