LPL Financial LLC Lowers Stake in ArcelorMittal $MT

LPL Financial LLC trimmed its position in shares of ArcelorMittal (NYSE:MT) by 14.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,181 shares of the basic materials company’s stock after selling 11,178 shares during the quarter. LPL Financial LLC’s holdings in ArcelorMittal were worth $1,909,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vise Technologies Inc. acquired a new position in shares of ArcelorMittal during the fourth quarter worth about $217,000. Polar Asset Management Partners Inc. acquired a new position in shares of ArcelorMittal during the fourth quarter worth about $2,521,000. Nomura Holdings Inc. acquired a new position in shares of ArcelorMittal during the fourth quarter worth about $1,055,000. New York State Common Retirement Fund acquired a new position in shares of ArcelorMittal during the first quarter worth about $1,647,000. Finally, Castle Hook Partners LP acquired a new position in shares of ArcelorMittal during the fourth quarter worth about $1,780,000. 9.29% of the stock is currently owned by institutional investors and hedge funds.

ArcelorMittal Stock Down 1.8%

Shares of NYSE MT opened at $33.8860 on Thursday. The firm’s 50-day moving average is $32.46 and its two-hundred day moving average is $30.41. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.40 and a quick ratio of 0.59. The company has a market capitalization of $27.76 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 0.15 and a beta of 1.65. ArcelorMittal has a 12-month low of $21.59 and a 12-month high of $35.13.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.32 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.01). The firm had revenue of $15.93 billion during the quarter, compared to analyst estimates of $15.48 billion. ArcelorMittal had a net margin of 4.11% and a return on equity of 4.99%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. Equities analysts anticipate that ArcelorMittal will post 3.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MT shares. Wall Street Zen lowered shares of ArcelorMittal from a “buy” rating to a “hold” rating in a research note on Sunday, July 20th. Barclays lowered shares of ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company raised shares of ArcelorMittal to a “hold” rating in a report on Thursday, August 14th. Three research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $32.96.

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.