Ritholtz Wealth Management Has $292,000 Position in ArcelorMittal (NYSE:MT)

Ritholtz Wealth Management lowered its stake in shares of ArcelorMittal (NYSE:MT) by 22.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,120 shares of the basic materials company’s stock after selling 2,932 shares during the period. Ritholtz Wealth Management’s holdings in ArcelorMittal were worth $292,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of ArcelorMittal by 31.1% in the 1st quarter. GAMMA Investing LLC now owns 1,920 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 456 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in shares of ArcelorMittal by 76.2% in the 4th quarter. BNP Paribas Financial Markets now owns 4,878 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 2,110 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of ArcelorMittal by 76.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 5,963 shares of the basic materials company’s stock valued at $137,000 after purchasing an additional 2,586 shares during the last quarter. Versant Capital Management Inc acquired a new stake in shares of ArcelorMittal in the 1st quarter valued at $219,000. Finally, Callan Family Office LLC acquired a new stake in shares of ArcelorMittal in the 4th quarter valued at $207,000. Institutional investors and hedge funds own 9.29% of the company’s stock.

ArcelorMittal Stock Down 2.3%

ArcelorMittal stock opened at $29.97 on Friday. The firm has a market cap of $24.55 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 0.15 and a beta of 1.65. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.35 and a quick ratio of 0.58. ArcelorMittal has a fifty-two week low of $20.52 and a fifty-two week high of $34.90. The firm has a fifty day moving average price of $29.95 and a two-hundred day moving average price of $27.72.

ArcelorMittal (NYSE:MT) last released its earnings results on Wednesday, April 30th. The basic materials company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.33. The firm had revenue of $14.80 billion during the quarter, compared to analyst estimates of $15.11 billion. ArcelorMittal had a net margin of 1.98% and a return on equity of 4.11%. The business’s revenue was down 9.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 EPS. As a group, analysts forecast that ArcelorMittal will post 3.72 earnings per share for the current year.

ArcelorMittal Cuts Dividend

The company also recently declared a dividend, which was paid on Wednesday, June 11th. Investors of record on Monday, May 19th were paid a dividend of $0.2338 per share. The ex-dividend date was Friday, May 16th. This represents a yield of 1.44%. ArcelorMittal’s dividend payout ratio is 30.72%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of ArcelorMittal in a research note on Monday, April 14th. The Goldman Sachs Group raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $29.00 to $31.70 in a research report on Thursday, April 10th. Finally, Jefferies Financial Group lowered shares of ArcelorMittal from a “buy” rating to a “hold” rating and set a $36.20 target price for the company. in a research report on Wednesday, March 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.95.

ArcelorMittal Company 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.