ArcelorMittal S.A. (NYSE:MT) Shares Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC trimmed its holdings in shares of ArcelorMittal S.A. (NYSE:MTGet Rating) by 11.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,165 shares of the basic materials company’s stock after selling 898 shares during the period. Kestra Private Wealth Services LLC’s holdings in ArcelorMittal were worth $229,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MT. Arrowstreet Capital Limited Partnership raised its stake in shares of ArcelorMittal by 1,300.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 5,349,935 shares of the basic materials company’s stock valued at $171,251,000 after acquiring an additional 4,967,981 shares during the period. BlackRock Inc. raised its position in ArcelorMittal by 96.3% in the first quarter. BlackRock Inc. now owns 3,706,360 shares of the basic materials company’s stock valued at $118,642,000 after purchasing an additional 1,818,361 shares during the period. Renaissance Technologies LLC acquired a new position in shares of ArcelorMittal during the first quarter worth about $54,502,000. Dimensional Fund Advisors LP boosted its position in shares of ArcelorMittal by 44.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,888,143 shares of the basic materials company’s stock worth $124,465,000 after buying an additional 1,196,983 shares during the period. Finally, Connectus Wealth LLC acquired a new stake in shares of ArcelorMittal in the first quarter valued at about $18,154,000. 10.00% of the stock is currently owned by hedge funds and other institutional investors.

ArcelorMittal Stock Performance

Shares of ArcelorMittal stock opened at $21.14 on Thursday. The firm has a market cap of $19.83 billion, a PE ratio of 1.27 and a beta of 1.93. ArcelorMittal S.A. has a 1 year low of $20.86 and a 1 year high of $37.87. The firm’s 50-day simple moving average is $23.43 and its 200-day simple moving average is $27.23. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.68 and a current ratio of 1.58.

ArcelorMittal (NYSE:MTGet Rating) last announced its quarterly earnings data on Wednesday, July 27th. The basic materials company reported $4.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.19 by $0.05. ArcelorMittal had a return on equity of 31.17% and a net margin of 19.66%. The firm had revenue of $22.14 billion for the quarter, compared to analysts’ expectations of $21.75 billion. During the same quarter in the prior year, the firm posted $3.46 earnings per share. ArcelorMittal’s revenue for the quarter was up 14.5% compared to the same quarter last year. Equities analysts forecast that ArcelorMittal S.A. will post 12.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MT has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reduced their price target on ArcelorMittal from €38.00 ($38.78) to €37.00 ($37.76) in a research report on Monday, August 1st. lowered shares of ArcelorMittal from a “strong-buy” rating to a “buy” rating in a report on Friday, July 29th. Morgan Stanley boosted their price objective on shares of ArcelorMittal from €46.00 ($46.94) to €46.10 ($47.04) and gave the stock an “overweight” rating in a report on Thursday, June 23rd. UBS Group lowered their target price on ArcelorMittal from €38.00 ($38.78) to €27.00 ($27.55) in a research note on Tuesday, July 26th. Finally, JPMorgan Chase & Co. boosted their price target on ArcelorMittal from €30.50 ($31.12) to €31.00 ($31.63) in a research note on Monday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $39.35.

ArcelorMittal Company Profile

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ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in Europe, North and South America, Asia, and Africa. Its principal steel products include 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, which includes blooms and billets; finished long products, including bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes.

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Institutional Ownership by Quarter for ArcelorMittal (NYSE:MT)

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