Towle & Co. Sells 29,108 Shares of ArcelorMittal S.A. (NYSE:MT)

Towle & Co. trimmed its holdings in shares of ArcelorMittal S.A. (NYSE:MT - Free Report) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 481,258 shares of the basic materials company's stock after selling 29,108 shares during the quarter. ArcelorMittal accounts for about 1.9% of Towle & Co.'s holdings, making the stock its 28th largest position. Towle & Co. owned about 0.06% of ArcelorMittal worth $11,131,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Polar Asset Management Partners Inc. bought a new position in shares of ArcelorMittal in the fourth quarter worth $2,521,000. Quantinno Capital Management LP raised its position in ArcelorMittal by 26.5% during the fourth quarter. Quantinno Capital Management LP now owns 144,604 shares of the basic materials company's stock valued at $3,345,000 after purchasing an additional 30,280 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in ArcelorMittal during the fourth quarter valued at about $1,055,000. Mork Capital Management LLC purchased a new position in shares of ArcelorMittal in the fourth quarter worth about $999,000. Finally, Castle Hook Partners LP purchased a new position in shares of ArcelorMittal in the fourth quarter worth about $1,780,000. 9.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

ArcelorMittal Stock Up 1.4%

MT traded up $0.43 during trading on Friday, hitting $30.39. 3,349,989 shares of the company's stock traded hands, compared to its average volume of 1,882,462. The company's 50 day simple moving average is $29.06 and its two-hundred day simple moving average is $26.97. The company has a current ratio of 1.35, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. 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 $24.89 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 0.14 and a beta of 1.62.

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

ArcelorMittal Cuts Dividend

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