Towle & Co. Decreases Stock Holdings in ArcelorMittal S.A. (NYSE:MT)

Towle & Co. trimmed its stake in shares of ArcelorMittal S.A. (NYSE:MT - Free Report) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 481,258 shares of the basic materials company's stock after selling 29,108 shares during the period. ArcelorMittal makes up 1.9% of Towle & Co.'s investment portfolio, making the stock its 28th largest holding. Towle & Co. owned 0.06% of ArcelorMittal worth $11,131,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in ArcelorMittal by 221.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company's stock valued at $78,712,000 after acquiring an additional 2,344,020 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of ArcelorMittal by 3.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,029,028 shares of the basic materials company's stock valued at $70,061,000 after purchasing an additional 91,363 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of ArcelorMittal by 146.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,535,319 shares of the basic materials company's stock valued at $35,512,000 after purchasing an additional 912,984 shares during the last quarter. Northern Trust Corp increased its position in shares of ArcelorMittal by 31.7% during the 4th quarter. Northern Trust Corp now owns 1,153,924 shares of the basic materials company's stock valued at $26,690,000 after purchasing an additional 277,891 shares during the last quarter. Finally, Causeway Capital Management LLC lifted its stake in shares of ArcelorMittal by 12.8% in the 4th quarter. Causeway Capital Management LLC now owns 1,067,400 shares of the basic materials company's stock worth $24,689,000 after purchasing an additional 121,155 shares during the period. 9.29% of the stock is owned by institutional investors.

ArcelorMittal Price Performance

Shares of NYSE:MT opened at $30.71 on Monday. 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 S.A. has a 1-year low of $20.52 and a 1-year high of $34.90. The company has a market capitalization of $25.16 billion, a P/E ratio of 18.61, a P/E/G ratio of 0.14 and a beta of 1.62. The firm's 50 day simple moving average is $29.15 and its two-hundred day simple moving average is $26.80.

ArcelorMittal (NYSE:MT - Get Free Report) last issued 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. ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. The business had revenue of $14.80 billion for the quarter, compared to the consensus estimate of $15.11 billion. During the same quarter in the previous year, the firm earned $1.16 earnings per share. The company's revenue for the quarter was down 9.1% on a year-over-year basis. Research analysts expect that ArcelorMittal S.A. will post 3.72 EPS for the current fiscal year.

ArcelorMittal Cuts Dividend

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

Wall Street Analysts Forecast Growth

MT has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of ArcelorMittal in a research report on Monday, April 14th. Morgan Stanley lowered shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research report on Friday, February 14th. Jefferies Financial Group lowered shares of ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 target price for the company. in a research report on Wednesday, March 26th. Finally, The Goldman Sachs Group upgraded shares of ArcelorMittal from a "neutral" rating to a "buy" rating and boosted their target price for the company from $29.00 to $31.70 in a research report on Thursday, April 10th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, ArcelorMittal has a consensus rating of "Moderate Buy" and a consensus target price 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.

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