Royal Bank of Canada Decreases Stake in ArcelorMittal S.A. (NYSE:MT)

Royal Bank of Canada reduced its position in ArcelorMittal S.A. (NYSE:MT - Free Report) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 969,671 shares of the basic materials company's stock after selling 10,379 shares during the period. Royal Bank of Canada owned approximately 0.12% of ArcelorMittal worth $22,429,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of MT. Geneos Wealth Management Inc. lifted its holdings in shares of ArcelorMittal by 89.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company's stock worth $26,000 after purchasing an additional 536 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of ArcelorMittal by 76.2% in the 4th 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 in the last quarter. Smartleaf Asset Management LLC raised its position in ArcelorMittal by 76.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company's stock valued at $137,000 after buying an additional 2,586 shares during the last quarter. Callan Family Office LLC purchased a new stake in ArcelorMittal in the 4th quarter valued at $207,000. Finally, PNC Financial Services Group Inc. raised its position in 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. 9.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

ArcelorMittal Stock Performance

Shares of ArcelorMittal stock traded down $0.66 during trading hours on Wednesday, hitting $30.61. 822,998 shares of the company's stock traded hands, compared to its average volume of 1,881,196. ArcelorMittal S.A. has a 12-month low of $20.52 and a 12-month high of $34.90. The stock has a market capitalization of $25.08 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 0.14 and a beta of 1.62. The company has a fifty day simple moving average of $28.99 and a 200-day simple moving average of $27.05. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59.

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

ArcelorMittal Cuts Dividend

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

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.