ArcelorMittal $MT Stock Holdings Trimmed by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its position in shares of ArcelorMittal (NYSE:MT) by 73.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,071 shares of the basic materials company’s stock after selling 89,100 shares during the quarter. Renaissance Technologies LLC’s holdings in ArcelorMittal were worth $1,667,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GC Wealth Management RIA LLC grew its position in shares of ArcelorMittal by 4.2% in the 1st quarter. GC Wealth Management RIA LLC now owns 10,186 shares of the basic materials company’s stock worth $529,000 after acquiring an additional 413 shares in the last quarter. Compound Planning Inc. raised its position in shares of ArcelorMittal by 26.1% during the 1st quarter. Compound Planning Inc. now owns 6,413 shares of the basic materials company’s stock valued at $333,000 after acquiring an additional 1,326 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of ArcelorMittal by 1,317.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 75,105 shares of the basic materials company’s stock valued at $3,904,000 after acquiring an additional 69,805 shares in the last quarter. State of Wyoming acquired a new stake in shares of ArcelorMittal during the 1st quarter valued at approximately $343,000. Finally, Icon Advisers Inc. Co. lifted its stake in ArcelorMittal by 140.7% during the first quarter. Icon Advisers Inc. Co. now owns 65,000 shares of the basic materials company’s stock worth $3,379,000 after purchasing an additional 38,000 shares during the last quarter. Institutional investors own 9.29% of the company’s stock.

ArcelorMittal Trading Down 0.2%

Shares of NYSE MT opened at $73.75 on Wednesday. ArcelorMittal has a 12-month low of $31.93 and a 12-month high of $75.66. The company has a market cap of $57.16 billion, a price-to-earnings ratio of 31.25, a price-to-earnings-growth ratio of 0.57 and a beta of 1.53. The company has a current ratio of 1.43, a quick ratio of 0.57 and a debt-to-equity ratio of 0.21. The stock’s 50 day simple moving average is $66.69 and its 200 day simple moving average is $61.94.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Morgan Stanley reaffirmed an “overweight” rating on shares of ArcelorMittal in a report on Wednesday, August 5th. Jefferies Financial Group reissued a “buy” rating on shares of ArcelorMittal in a report on Monday, July 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $75.00 price target on shares of ArcelorMittal in a research report on Friday, July 31st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of ArcelorMittal in a report on Friday, July 31st. Finally, Santander downgraded shares of ArcelorMittal from an “outperform” rating to a “neutral” rating in a research report on Tuesday, April 21st. Six analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $72.40.

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.