Voloridge Investment Management LLC Sells 727,584 Shares of ArcelorMittal S.A. (NYSE:MT)

Voloridge Investment Management LLC trimmed its holdings in ArcelorMittal S.A. (NYSE:MT - Free Report) by 95.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 31,392 shares of the basic materials company's stock after selling 727,584 shares during the quarter. Voloridge Investment Management LLC's holdings in ArcelorMittal were worth $726,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Geneos Wealth Management Inc. boosted its stake 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 buying an additional 536 shares during the last quarter. US Bancorp DE lifted its holdings in ArcelorMittal by 5.0% in the fourth quarter. US Bancorp DE now owns 15,085 shares of the basic materials company's stock valued at $349,000 after acquiring an additional 717 shares during the period. Dorsey & Whitney Trust CO LLC boosted its position in ArcelorMittal by 9.1% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 9,545 shares of the basic materials company's stock worth $221,000 after purchasing an additional 797 shares during the last quarter. United Capital Financial Advisors LLC grew its stake in shares of ArcelorMittal by 11.5% during the 4th quarter. United Capital Financial Advisors LLC now owns 10,940 shares of the basic materials company's stock valued at $253,000 after purchasing an additional 1,129 shares during the period. Finally, Quadrant Capital Group LLC increased its position in shares of ArcelorMittal by 13.9% during the 4th quarter. Quadrant Capital Group LLC now owns 10,146 shares of the basic materials company's stock valued at $235,000 after purchasing an additional 1,242 shares during the last quarter. Hedge funds and other institutional investors own 9.29% of the company's stock.

Wall Street Analyst Weigh In

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

ArcelorMittal Price Performance

Shares of MT stock traded up $0.06 on Friday, hitting $30.59. 1,181,347 shares of the stock traded hands, compared to its average volume of 1,888,814. 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 52 week low of $20.52 and a 52 week high of $34.90. The firm has a 50 day simple moving average of $28.93 and a two-hundred day simple moving average of $27.15. The firm has a market cap of $25.06 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 0.14 and a beta of 1.62.

ArcelorMittal (NYSE:MT - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $1.04 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 business had revenue of $14.80 billion for the quarter, compared to the consensus estimate of $15.11 billion. During the same period in the previous year, the business earned $1.16 earnings per share. The business's revenue was down 9.1% on a year-over-year basis. As a group, equities research analysts predict that ArcelorMittal S.A. will post 3.72 earnings per share for the current fiscal year.

ArcelorMittal Cuts Dividend

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