Causeway Capital Management LLC Has $20.32 Million Stock Holdings in ArcelorMittal $MT

Key Points

• Causeway Capital Management LLC reduced its stake in ArcelorMittal by 34% in the first quarter, now holding 704,291 shares valued at approximately $20.32 million.
• Institutional investors collectively own 9.29% of ArcelorMittal's stock, with various firms adjusting their positions during the fourth quarter.
• ArcelorMittal's latest earnings report showed $1.32 EPS, slightly missing estimates and reflecting a 2% revenue decline year-over-year.

Causeway Capital Management LLC lowered its stake in ArcelorMittal (NYSE:MT - Free Report) by 34.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 704,291 shares of the basic materials company's stock after selling 363,109 shares during the period. Causeway Capital Management LLC owned approximately 0.09% of ArcelorMittal worth $20,319,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC increased its holdings in ArcelorMittal by 4.4% in the 4th quarter. Renaissance Technologies LLC now owns 67,400 shares of the basic materials company's stock valued at $1,559,000 after buying an additional 2,829 shares during the period. Raymond James Financial Inc. acquired a new position in shares of ArcelorMittal in the 4th quarter worth approximately $2,777,000. 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 worth $478,000 after buying an additional 4,406 shares during the period. Dimensional Fund Advisors LP boosted its stake in ArcelorMittal by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,029,028 shares of the basic materials company's stock valued at $70,061,000 after buying an additional 91,363 shares in the last quarter. Finally, First Trust Advisors LP bought a new stake in ArcelorMittal in the fourth quarter valued at $400,000. Institutional investors and hedge funds own 9.29% of the company's stock.

Wall Street Analyst Weigh In

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

ArcelorMittal Trading Down 0.3%

NYSE:MT opened at $33.90 on Tuesday. The business's 50-day moving average price is $32.65 and its two-hundred day moving average price is $30.63. ArcelorMittal has a 1-year low of $21.59 and a 1-year high of $35.13. The firm has a market capitalization of $27.77 billion, a price-to-earnings ratio of 10.46, a PEG ratio of 0.15 and a beta of 1.65. The company has a current ratio of 1.40, a quick ratio of 0.59 and a debt-to-equity ratio of 0.19.

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

About ArcelorMittal

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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