Crestline Management LP Sells 70,449 Shares of ArcelorMittal S.A. (NYSE:MT)

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

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in ArcelorMittal by 68.5% in the fourth quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 595 shares during the last quarter. Park Avenue Securities LLC bought a new position in shares of ArcelorMittal in the 4th quarter worth $212,000. Janney Montgomery Scott LLC acquired a new stake in shares of ArcelorMittal during the fourth quarter worth $233,000. Geneos Wealth Management Inc. increased its holdings 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 purchasing an additional 536 shares during the last quarter. Finally, ABC Arbitrage SA acquired a new position in ArcelorMittal in the fourth quarter valued at about $9,895,000. Institutional investors and hedge funds own 9.29% of the company's stock.

Analyst Upgrades and Downgrades

MT has been the subject of several 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 reaffirmed a "buy" rating on shares of ArcelorMittal in a research note on Monday, April 14th. Jefferies Financial Group cut shares of ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 price target on the stock. in a research report on Wednesday, March 26th. Finally, The Goldman Sachs Group upgraded shares of ArcelorMittal from a "neutral" rating to a "buy" rating and upped their price objective for the company from $29.00 to $31.70 in a research report on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $32.95.

ArcelorMittal Stock Down 1.0 %

Shares of MT stock opened at $30.33 on Tuesday. ArcelorMittal S.A. has a 12-month low of $20.52 and a 12-month high of $34.90. 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 firm has a fifty day moving average of $29.23 and a 200-day moving average of $26.40. The company has a market capitalization of $24.85 billion, a price-to-earnings ratio of 18.38, a P/E/G ratio of 0.14 and a beta of 1.60.

ArcelorMittal (NYSE:MT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.33. The firm 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 for the quarter was down 9.1% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. As a group, equities research analysts predict that ArcelorMittal S.A. will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Announces Dividend

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

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.

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