ArcelorMittal S.A. (NYSE:MT) Position Cut by Crestline Management LP

Crestline Management LP cut its holdings in ArcelorMittal S.A. (NYSE:MT - Free Report) by 19.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 284,867 shares of the basic materials company's stock after selling 70,449 shares during the period. Crestline Management LP's holdings in ArcelorMittal were worth $6,589,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Geneos Wealth Management Inc. raised its position in shares of ArcelorMittal by 89.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company's stock worth $26,000 after buying an additional 536 shares during the period. GAMMA Investing LLC grew its holdings in shares of ArcelorMittal by 68.5% during the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company's stock worth $34,000 after purchasing an additional 595 shares during the period. BNP Paribas Financial Markets increased its position in ArcelorMittal by 76.2% during the 4th 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 in the last quarter. Smartleaf Asset Management LLC increased its position in ArcelorMittal by 76.6% during the 4th 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. Finally, Callan Family Office LLC purchased a new position in ArcelorMittal in the fourth quarter valued at approximately $207,000. Institutional investors and hedge funds own 9.29% of the company's stock.

ArcelorMittal Stock Up 1.5 %

Shares of NYSE:MT traded up $0.46 during trading on Friday, hitting $30.27. The company's stock had a trading volume of 915,536 shares, compared to its average volume of 1,856,906. ArcelorMittal S.A. has a fifty-two week low of $20.52 and a fifty-two week high of $34.90. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35. The company has a market capitalization of $24.80 billion, a PE ratio of 18.35, a PEG ratio of 0.14 and a beta of 1.62. The stock's 50-day moving average price is $29.32 and its two-hundred day moving average price is $26.55.

ArcelorMittal (NYSE:MT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.33. The company had revenue of $14.80 billion during the quarter, compared to analyst estimates of $15.11 billion. ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. The firm's revenue for the quarter was down 9.1% compared to the same quarter last year. During the same period last year, the business earned $1.16 EPS. As a group, sell-side analysts expect that ArcelorMittal S.A. will post 3.72 EPS for the current year.

ArcelorMittal Dividend Announcement

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, December 3rd. Investors of record on Thursday, November 13th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a yield of 1.5%. ArcelorMittal's dividend payout ratio is currently 30.07%.

Analyst Upgrades and Downgrades

MT has been the subject of several recent research reports. The Goldman Sachs Group raised shares of ArcelorMittal from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $29.00 to $31.70 in a research report on Thursday, April 10th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of ArcelorMittal in a research report on Monday, April 14th. Morgan Stanley downgraded ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 14th. Finally, Jefferies Financial Group downgraded ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 target price on the stock. in a report on Wednesday, March 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.