Crossmark Global Holdings Inc. Lowers Holdings in ArcelorMittal S.A. (NYSE:MT)

Crossmark Global Holdings Inc. trimmed its position in ArcelorMittal S.A. (NYSE:MTGet Rating) by 6.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,871 shares of the basic materials company’s stock after selling 2,344 shares during the period. Crossmark Global Holdings Inc.’s holdings in ArcelorMittal were worth $654,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its position in shares of ArcelorMittal by 48.7% during the 2nd quarter. FMR LLC now owns 6,977,758 shares of the basic materials company’s stock worth $157,697,000 after purchasing an additional 2,283,917 shares in the last quarter. Brinker Capital Investments LLC boosted its position in shares of ArcelorMittal by 9.3% during the 2nd quarter. Brinker Capital Investments LLC now owns 11,118 shares of the basic materials company’s stock worth $251,000 after purchasing an additional 943 shares in the last quarter. Leuthold Group LLC boosted its position in shares of ArcelorMittal by 8.9% in the 2nd quarter. Leuthold Group LLC now owns 107,304 shares of the basic materials company’s stock worth $2,425,000 after buying an additional 8,803 shares in the last quarter. Mutual Advisors LLC purchased a new stake in shares of ArcelorMittal in the 2nd quarter worth about $746,000. Finally, Fractal Investments LLC boosted its position in shares of ArcelorMittal by 8.0% in the 2nd quarter. Fractal Investments LLC now owns 32,400 shares of the basic materials company’s stock worth $732,000 after buying an additional 2,400 shares in the last quarter. 5.40% of the stock is currently owned by hedge funds and other institutional investors.

ArcelorMittal Trading Up 1.8 %

NYSE MT opened at $30.91 on Friday. ArcelorMittal S.A. has a 12 month low of $19.25 and a 12 month high of $34.59. The company has a 50-day moving average of $27.34 and a 200-day moving average of $24.36. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.62 and a quick ratio of 0.70. The company has a market cap of $28.99 billion, a P/E ratio of 2.28 and a beta of 1.89.

ArcelorMittal (NYSE:MTGet Rating) last issued its earnings results on Thursday, November 10th. The basic materials company reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.28. ArcelorMittal had a return on equity of 24.32% and a net margin of 15.62%. The business had revenue of $18.98 billion during the quarter, compared to analysts’ expectations of $17.22 billion. As a group, equities analysts predict that ArcelorMittal S.A. will post 10.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on MT. StockNews.com upgraded shares of ArcelorMittal from a “hold” rating to a “buy” rating in a research report on Saturday, January 14th. UBS Group lowered shares of ArcelorMittal from a “neutral” rating to a “sell” rating in a research report on Wednesday. Bank of America downgraded shares of ArcelorMittal from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 14th. JPMorgan Chase & Co. cut their target price on shares of ArcelorMittal from €24.50 ($26.63) to €23.00 ($25.00) and set a “neutral” rating for the company in a research note on Wednesday, December 14th. Finally, Morgan Stanley cut their target price on shares of ArcelorMittal from €40.00 ($43.48) to €38.00 ($41.30) and set an “overweight” rating for the company in a research note on Tuesday, November 15th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, ArcelorMittal presently has a consensus rating of “Hold” and an average price target of $32.94.

ArcelorMittal Company Profile

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ArcelorMittal SA is a holding company, which engages in steelmaking and mining activities. It operates through the following business segments: NAFTA; Brazil; Europe; Africa and Commonwealth of Independent States (ACIS), Mining, and Others. The NAFTA segment consists of flat products such as slabs, hot-rolled coil, cold-rolled coil, coated steel, and plate.

Further Reading

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Institutional Ownership by Quarter for ArcelorMittal (NYSE:MT)

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