Capital Fund Management S.A. Lowers Stock Position in ArcelorMittal $MT

Key Points

• Capital Fund Management S.A. reduced its holdings in ArcelorMittal by 18.0%, selling 75,599 shares and now owning 344,060 shares valued at approximately $9,926,000.
• Institutional investments in ArcelorMittal varied with several firms, including Bank of America, increasing holdings significantly; Bank of America raised its position by 56.7%.
• ArcelorMittal reported a slight earnings miss with Q2 EPS at $1.32 compared to the consensus estimate of $1.33, while revenue decreased by 2.0% year-over-year.

Capital Fund Management S.A. lessened its holdings in ArcelorMittal (NYSE:MT - Free Report) by 18.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 344,060 shares of the basic materials company's stock after selling 75,599 shares during the quarter. Capital Fund Management S.A.'s holdings in ArcelorMittal were worth $9,926,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of MT. Wells Fargo & Company MN lifted its position in shares of ArcelorMittal by 61.2% during the 4th quarter. Wells Fargo & Company MN now owns 114,407 shares of the basic materials company's stock valued at $2,646,000 after acquiring an additional 43,425 shares during the period. Russell Investments Group Ltd. lifted its position in shares of ArcelorMittal by 53.5% during the 4th quarter. Russell Investments Group Ltd. now owns 10,180 shares of the basic materials company's stock valued at $235,000 after acquiring an additional 3,549 shares during the period. Renaissance Technologies LLC lifted its position in shares of ArcelorMittal by 4.4% during the 4th quarter. Renaissance Technologies LLC now owns 67,400 shares of the basic materials company's stock valued at $1,559,000 after acquiring an additional 2,829 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of ArcelorMittal during the 4th quarter valued at approximately $2,777,000. Finally, Mariner LLC lifted its position in shares of ArcelorMittal by 27.1% during the 4th quarter. Mariner LLC now owns 20,681 shares of the basic materials company's stock valued at $478,000 after acquiring an additional 4,406 shares during the period. 9.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MT has been the subject of several research reports. Barclays downgraded ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, July 16th. Wells Fargo & Company upgraded ArcelorMittal to a "hold" rating in a research report on Thursday, August 14th. Finally, Wall Street Zen downgraded ArcelorMittal from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $32.96.

ArcelorMittal Price Performance

Shares of ArcelorMittal stock traded up $0.7660 during trading on Friday, hitting $33.9960. 1,259,737 shares of the company were exchanged, compared to its average volume of 1,989,984. The stock has a market capitalization of $27.85 billion, a price-to-earnings ratio of 10.49, a P/E/G ratio of 0.15 and a beta of 1.65. The company has a quick ratio of 0.59, a current ratio of 1.40 and a debt-to-equity ratio of 0.19. ArcelorMittal has a fifty-two week low of $21.59 and a fifty-two week high of $35.13. The firm has a 50 day moving average price of $32.59 and a 200 day moving average price of $30.57.

ArcelorMittal (NYSE:MT - Get Free Report) last released its earnings results on Thursday, July 31st. The basic materials company reported $1.32 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.01). The firm had revenue of $15.93 billion during the quarter, compared to analysts' expectations of $15.48 billion. ArcelorMittal had a return on equity of 4.99% and a net margin of 4.11%.The firm's revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share. On average, equities analysts expect that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Company 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.