Natixis Advisors LLC Lowers Holdings in ArcelorMittal (NYSE:MT)

Natixis Advisors LLC reduced its position in ArcelorMittal (NYSE:MT - Free Report) by 28.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,948 shares of the basic materials company's stock after selling 40,993 shares during the period. Natixis Advisors LLC's holdings in ArcelorMittal were worth $2,999,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vise Technologies Inc. purchased a new stake in shares of ArcelorMittal in the fourth quarter worth about $217,000. Polar Asset Management Partners Inc. purchased a new stake in shares of ArcelorMittal in the fourth quarter worth about $2,521,000. Nomura Holdings Inc. purchased a new stake in shares of ArcelorMittal in the fourth quarter worth about $1,055,000. New York State Common Retirement Fund purchased a new stake in shares of ArcelorMittal in the first quarter worth about $1,647,000. Finally, Orion Portfolio Solutions LLC purchased a new stake in shares of ArcelorMittal in the fourth quarter worth about $259,000. 9.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MT has been the topic of several analyst reports. Wall Street Zen cut ArcelorMittal from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of ArcelorMittal in a research note on Monday, April 14th. Finally, Barclays cut ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, July 16th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, ArcelorMittal presently has an average rating of "Hold" and a consensus target price of $32.95.

ArcelorMittal Trading Up 3.8%

Shares of MT traded up $1.24 during mid-day trading on Friday, reaching $33.60. 2,992,931 shares of the company's stock traded hands, compared to its average volume of 1,877,491. The stock has a market cap of $27.53 billion, a P/E ratio of 10.37, a P/E/G ratio of 0.15 and a beta of 1.65. The stock's 50-day moving average is $31.91 and its two-hundred day moving average is $29.95. ArcelorMittal has a 12 month low of $21.45 and a 12 month high of $34.90. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.40 and a quick ratio of 0.59.

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 analysts' consensus estimates of $1.33 by ($0.01). The business had revenue of $15.93 billion for the quarter, compared to the consensus estimate of $15.48 billion. ArcelorMittal had a net margin of 4.11% and a return on equity of 4.99%. The company's quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 EPS. Research analysts forecast that ArcelorMittal will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th were paid a dividend of $0.2338 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a dividend yield of 144.0%. ArcelorMittal's dividend payout ratio is currently 14.51%.

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.