Two Sigma Investments LP Sells 363,669 Shares of ArcelorMittal S.A. (NYSE:MT)

Two Sigma Investments LP lowered its position in shares of ArcelorMittal S.A. (NYSE:MT - Free Report) by 20.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,422,563 shares of the basic materials company's stock after selling 363,669 shares during the period. Two Sigma Investments LP owned about 0.17% of ArcelorMittal worth $32,904,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in shares of ArcelorMittal by 221.3% during the 4th 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 buying an additional 2,344,020 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in ArcelorMittal by 24.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 67,562 shares of the basic materials company's stock valued at $1,563,000 after acquiring an additional 13,141 shares during the last quarter. American Century Companies Inc. grew its position in ArcelorMittal by 4.8% during the fourth quarter. American Century Companies Inc. now owns 280,838 shares of the basic materials company's stock valued at $6,496,000 after acquiring an additional 12,929 shares during the last quarter. Callan Family Office LLC purchased a new position in shares of ArcelorMittal during the fourth quarter worth approximately $207,000. Finally, Vestmark Advisory Solutions Inc. bought a new stake in shares of ArcelorMittal in the 4th quarter worth approximately $256,000. Institutional investors own 9.29% of the company's stock.

Analyst Upgrades and Downgrades

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

ArcelorMittal Trading Up 1.4%

Shares of NYSE MT traded up $0.43 during mid-day trading on Monday, hitting $30.39. The stock had a trading volume of 3,349,989 shares, compared to its average volume of 1,887,032. The business has a 50 day moving average price of $29.06 and a two-hundred day moving average price of $26.99. ArcelorMittal S.A. has a 1 year low of $20.52 and a 1 year high of $34.90. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 1.35. The firm has a market cap of $24.89 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 0.14 and a beta of 1.62.

ArcelorMittal (NYSE:MT - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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%. The company's revenue was down 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 EPS. On average, equities 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. Investors of record on Monday, May 19th will be paid a $0.2338 dividend. The ex-dividend date is Friday, May 16th. This represents a dividend yield of 1.44%. ArcelorMittal's payout ratio is presently 30.07%.

ArcelorMittal 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.