Two Sigma Advisers LP Cuts Position in ArcelorMittal S.A. (NYSE:MT)

Two Sigma Advisers LP reduced its position in shares of ArcelorMittal S.A. (NYSE:MT - Free Report) by 8.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,086,900 shares of the basic materials company's stock after selling 195,300 shares during the quarter. Two Sigma Advisers LP owned 0.25% of ArcelorMittal worth $48,270,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Polar Asset Management Partners Inc. purchased a new stake in shares of ArcelorMittal during the 4th quarter worth about $2,521,000. Quantinno Capital Management LP boosted its stake in shares of ArcelorMittal by 26.5% during the 4th quarter. Quantinno Capital Management LP now owns 144,604 shares of the basic materials company's stock worth $3,345,000 after acquiring an additional 30,280 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in shares of ArcelorMittal during the 4th quarter worth about $1,055,000. Mork Capital Management LLC purchased a new stake in shares of ArcelorMittal during the 4th quarter worth about $999,000. Finally, Castle Hook Partners LP purchased a new position in ArcelorMittal in the 4th quarter valued at about $1,780,000. 9.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MT has been the topic of a number of research reports. The Goldman Sachs Group raised shares of ArcelorMittal from a "neutral" rating to a "buy" rating and raised their price target for the company from $29.00 to $31.70 in a research note on Thursday, April 10th. Morgan Stanley lowered shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a research note on Friday, February 14th. Jefferies Financial Group lowered shares of 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. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of ArcelorMittal in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $32.95.

ArcelorMittal Price Performance

MT stock traded up $0.43 during mid-day trading on Friday, reaching $30.39. The company's stock had a trading volume of 3,349,989 shares, compared to its average volume of 1,887,032. The stock has a market cap of $24.89 billion, a PE ratio of 18.42, a P/E/G ratio of 0.14 and a beta of 1.62. 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 fifty-two week low of $20.52 and a fifty-two week high of $34.90. The company's 50 day moving average is $29.06 and its two-hundred day moving average is $26.98.

ArcelorMittal (NYSE:MT - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $1.04 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.33. The company had revenue of $14.80 billion during the quarter, compared to the consensus estimate of $15.11 billion. ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. ArcelorMittal's quarterly revenue was down 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 EPS. Equities research analysts expect 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. Shareholders of record on Monday, May 19th will be given a $0.2338 dividend. This represents a yield of 1.44%. The ex-dividend date of this dividend is Friday, May 16th. ArcelorMittal's payout ratio is 30.07%.

ArcelorMittal Company Profile

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.