Robotti Robert Decreases Position in ArcelorMittal $MT

Key Points

• Robotti Robert reduced its stake in ArcelorMittal by 6.3% in the first quarter, now holding 345,015 shares valued at approximately $9.95 million.
• Analysts have issued mixed ratings for ArcelorMittal, with Wells Fargo giving a "negative" rating and Barclays downgrading the stock to "equal weight".
• ArcelorMittal reported quarterly earnings of $1.32 per share, missing estimates, and also announced a dividend with a yield of 144.0%.

Robotti Robert lessened its stake in shares of ArcelorMittal (NYSE:MT - Free Report) by 6.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 345,015 shares of the basic materials company's stock after selling 23,170 shares during the period. ArcelorMittal accounts for about 2.0% of Robotti Robert's investment portfolio, making the stock its 12th biggest holding. Robotti Robert's holdings in ArcelorMittal were worth $9,954,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Hexagon Capital Partners LLC grew its holdings in ArcelorMittal by 25.4% during the first quarter. Hexagon Capital Partners LLC now owns 1,779 shares of the basic materials company's stock valued at $51,000 after purchasing an additional 360 shares during the period. GAMMA Investing LLC grew its holdings in ArcelorMittal by 31.1% during the first quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company's stock valued at $55,000 after purchasing an additional 456 shares during the period. Bayforest Capital Ltd grew its holdings in ArcelorMittal by 23.7% during the first quarter. Bayforest Capital Ltd now owns 2,298 shares of the basic materials company's stock valued at $62,000 after purchasing an additional 440 shares during the period. BNP Paribas Financial Markets grew its holdings in ArcelorMittal by 76.2% during the fourth quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company's stock valued at $113,000 after purchasing an additional 2,110 shares during the period. Finally, Atlas Capital Advisors Inc. bought a new stake in ArcelorMittal during the first quarter valued at about $166,000. Institutional investors own 9.29% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on MT shares. Wells Fargo & Company raised ArcelorMittal to a "hold" rating in a research note on Thursday, August 14th. Barclays lowered ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, July 16th. Finally, Wall Street Zen lowered ArcelorMittal from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $32.96.

ArcelorMittal Price Performance

ArcelorMittal stock traded up $0.17 during midday trading on Tuesday, reaching $34.59. 1,104,558 shares of the stock traded hands, compared to its average volume of 2,025,400. The stock's fifty day moving average is $32.32 and its 200-day moving average is $30.36. ArcelorMittal has a 12 month low of $21.59 and a 12 month high of $35.13. The stock has a market cap of $28.34 billion, a P/E ratio of 10.67, a PEG 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 (NYSE:MT - Get Free Report) last announced 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). ArcelorMittal had a net margin of 4.11% and a return on equity of 4.99%. The firm had revenue of $15.93 billion for the quarter, compared to the consensus estimate of $15.48 billion. During the same period in the previous year, the company posted $0.63 earnings per share. ArcelorMittal's quarterly revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts anticipate that ArcelorMittal will post 3.72 EPS 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.