Royal Bank of Canada Sells 10,379 Shares of ArcelorMittal S.A. (NYSE:MT)

Royal Bank of Canada trimmed its stake in shares of ArcelorMittal S.A. (NYSE:MT - Free Report) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 969,671 shares of the basic materials company's stock after selling 10,379 shares during the quarter. Royal Bank of Canada owned approximately 0.12% of ArcelorMittal worth $22,429,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MT. Geneos Wealth Management Inc. boosted its position in ArcelorMittal by 89.6% during the 4th quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company's stock worth $26,000 after buying an additional 536 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of ArcelorMittal by 76.2% during the fourth quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company's stock worth $113,000 after purchasing an additional 2,110 shares during the period. Smartleaf Asset Management LLC lifted its holdings in ArcelorMittal by 76.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company's stock worth $137,000 after buying an additional 2,586 shares during the period. Callan Family Office LLC acquired a new position in ArcelorMittal during the 4th quarter worth about $207,000. Finally, PNC Financial Services Group Inc. grew its position in shares of ArcelorMittal by 23.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 9,076 shares of the basic materials company's stock valued at $210,000 after buying an additional 1,702 shares during the last quarter. Institutional investors and hedge funds own 9.29% of the company's stock.

ArcelorMittal Trading Down 0.7%

Shares of MT stock traded down $0.22 during trading hours on Friday, hitting $30.31. 271,017 shares of the company were exchanged, compared to its average volume of 1,880,989. The company has a 50 day simple moving average of $28.95 and a two-hundred day simple moving average of $27.11. The firm has a market cap of $24.84 billion, a P/E ratio of 18.40, a P/E/G ratio of 0.14 and a beta of 1.62. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35. ArcelorMittal S.A. has a fifty-two week low of $20.52 and a fifty-two week high of $34.90.

ArcelorMittal (NYSE:MT - Get Free Report) last issued its earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.33. The business had revenue of $14.80 billion for the quarter, compared to analyst estimates of $15.11 billion. ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. ArcelorMittal's revenue was down 9.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 earnings per share. Equities analysts anticipate that ArcelorMittal S.A. will post 3.72 EPS for the current year.

ArcelorMittal Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, June 11th. Stockholders of record on Monday, May 19th will be paid a $0.2338 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a dividend yield of 1.44%. ArcelorMittal's dividend payout ratio is presently 30.07%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of ArcelorMittal in a research note on Monday, April 14th. Morgan Stanley downgraded shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 14th. The Goldman Sachs Group upgraded shares of ArcelorMittal from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $29.00 to $31.70 in a research report on Thursday, April 10th. Finally, Jefferies Financial Group downgraded shares of ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 target price for the company. in a research note on Wednesday, March 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, ArcelorMittal currently has an average rating of "Moderate Buy" and a consensus price target of $32.95.

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.