ArcelorMittal (NYSE:MT) Shares Sold by Cerity Partners LLC

Cerity Partners LLC cut its position in shares of ArcelorMittal (NYSE:MT - Free Report) by 2.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 271,505 shares of the basic materials company's stock after selling 7,868 shares during the period. Cerity Partners LLC's holdings in ArcelorMittal were worth $7,833,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MT. OLD Mission Capital LLC boosted its stake in shares of ArcelorMittal by 145.8% during the 4th quarter. OLD Mission Capital LLC now owns 678,350 shares of the basic materials company's stock worth $15,690,000 after purchasing an additional 402,402 shares during the period. Bank of America Corp DE boosted its stake in shares of ArcelorMittal by 56.7% during the 4th quarter. Bank of America Corp DE now owns 784,252 shares of the basic materials company's stock worth $18,140,000 after purchasing an additional 283,758 shares during the period. Northern Trust Corp boosted its stake in shares of ArcelorMittal by 31.7% during the 4th quarter. Northern Trust Corp now owns 1,153,924 shares of the basic materials company's stock worth $26,690,000 after purchasing an additional 277,891 shares during the period. Causeway Capital Management LLC boosted its stake in shares of ArcelorMittal by 12.8% during the 4th quarter. Causeway Capital Management LLC now owns 1,067,400 shares of the basic materials company's stock worth $24,689,000 after purchasing an additional 121,155 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of ArcelorMittal during the 4th quarter worth about $2,777,000. 9.29% of the stock is owned by hedge funds and other institutional investors.

ArcelorMittal Stock Down 0.1%

Shares of NYSE MT traded down $0.03 during trading hours on Friday, hitting $32.58. 428,804 shares of the stock were exchanged, compared to its average volume of 1,824,103. The company has a quick ratio of 0.58, a current ratio of 1.35 and a debt-to-equity ratio of 0.16. The company has a market cap of $26.69 billion, a PE ratio of 21.29, a PEG ratio of 0.14 and a beta of 1.63. The firm has a fifty day moving average price of $31.32 and a 200-day moving average price of $28.80. ArcelorMittal has a 12 month low of $20.52 and a 12 month high of $34.90.

ArcelorMittal (NYSE:MT - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.33. ArcelorMittal had a return on equity of 4.11% and a net margin of 1.98%. The company had revenue of $14.80 billion during the quarter, compared to analysts' expectations of $15.11 billion. During the same period last year, the business posted $1.16 earnings per share. The firm's revenue was down 9.1% compared to the same quarter last year. On average, sell-side analysts expect that ArcelorMittal will post 3.72 EPS for the current year.

ArcelorMittal Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, June 11th. Shareholders of record on Monday, May 19th were paid a $0.2338 dividend. This represents a yield of 1.44%. The ex-dividend date of this dividend was Friday, May 16th. ArcelorMittal's dividend payout ratio (DPR) is presently 30.72%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Jefferies Financial Group cut shares of ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 price objective for the company. in a research report on Wednesday, March 26th. Wall Street Zen raised shares of ArcelorMittal from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Barclays cut shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Wednesday. The Goldman Sachs Group raised shares of ArcelorMittal from a "neutral" rating to a "buy" rating and upped their price target for the stock from $29.00 to $31.70 in a research report on Thursday, April 10th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of ArcelorMittal in a research report on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $32.95.

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.