ArcelorMittal S.A. (NYSE:MT) Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC decreased its holdings in shares of ArcelorMittal S.A. (NYSE:MT) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,051 shares of the basic materials company’s stock after selling 840 shares during the quarter. Pzena Investment Management LLC’s holdings in ArcelorMittal were worth $755,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its stake in shares of ArcelorMittal by 1,300.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 5,349,935 shares of the basic materials company’s stock valued at $171,251,000 after buying an additional 4,967,981 shares in the last quarter. BlackRock Inc. grew its stake in shares of 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 buying an additional 1,818,361 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of ArcelorMittal in the first quarter valued at $54,502,000. Citigroup Inc. grew its stake in shares of ArcelorMittal by 15,291.6% in the first quarter. Citigroup Inc. now owns 1,007,226 shares of the basic materials company’s stock valued at $30,338,000 after buying an additional 1,000,682 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of ArcelorMittal by 408.5% in the first quarter. Envestnet Asset Management Inc. now owns 974,988 shares of the basic materials company’s stock valued at $4,005,000 after buying an additional 783,241 shares in the last quarter. Institutional investors and hedge funds own 4.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded ArcelorMittal from a “hold” rating to a “buy” rating in a report on Saturday, September 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.68.

ArcelorMittal Trading Down 1.0 %

NYSE:MT opened at $25.76 on Friday. The firm has a market cap of $20.75 billion, a PE ratio of 5.28 and a beta of 1.91. The stock has a fifty day moving average price of $27.06 and a 200 day moving average price of $27.71. ArcelorMittal S.A. has a 12-month low of $19.25 and a 12-month high of $32.49. The company has a current ratio of 1.63, a quick ratio of 0.68 and a debt-to-equity ratio of 0.15.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Wednesday, July 26th. The basic materials company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.39. The company had revenue of $18.61 billion during the quarter, compared to the consensus estimate of $17.41 billion. ArcelorMittal had a return on equity of 9.88% and a net margin of 5.77%. ArcelorMittal’s revenue for the quarter was down 16.0% on a year-over-year basis. During the same period in the previous year, the business earned $4.24 EPS. Sell-side analysts anticipate that ArcelorMittal S.A. will post 5.22 earnings per share for the current fiscal year.

ArcelorMittal Profile

ArcelorMittal SA, together with its subsidiaries, operates as integrated steel and mining companies in the Americas, Europe, Asia, and Africa. 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.