ArcelorMittal $MT Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. trimmed its position in shares of ArcelorMittal (NYSE:MT) by 55.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 60,725 shares of the basic materials company’s stock after selling 76,071 shares during the quarter. QRG Capital Management Inc.’s holdings in ArcelorMittal were worth $2,195,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC grew its holdings in shares of ArcelorMittal by 15.7% during the third quarter. Evergreen Capital Management LLC now owns 15,567 shares of the basic materials company’s stock worth $563,000 after buying an additional 2,110 shares in the last quarter. Bayforest Capital Ltd lifted its stake in shares of ArcelorMittal by 220.7% in the third quarter. Bayforest Capital Ltd now owns 9,926 shares of the basic materials company’s stock worth $359,000 after buying an additional 6,831 shares in the last quarter. CWA Asset Management Group LLC boosted its position in ArcelorMittal by 6.9% during the third quarter. CWA Asset Management Group LLC now owns 37,479 shares of the basic materials company’s stock worth $1,355,000 after acquiring an additional 2,429 shares during the last quarter. Global Retirement Partners LLC boosted its position in ArcelorMittal by 282.2% during the third quarter. Global Retirement Partners LLC now owns 2,427 shares of the basic materials company’s stock worth $88,000 after acquiring an additional 1,792 shares during the last quarter. Finally, Merit Financial Group LLC raised its holdings in ArcelorMittal by 3.1% in the 3rd quarter. Merit Financial Group LLC now owns 9,453 shares of the basic materials company’s stock valued at $342,000 after acquiring an additional 283 shares during the last quarter. Hedge funds and other institutional investors own 9.29% of the company’s stock.

ArcelorMittal Trading Up 0.6%

MT opened at $48.72 on Tuesday. The stock has a market capitalization of $37.76 billion, a PE ratio of 14.50, a P/E/G ratio of 0.18 and a beta of 1.52. ArcelorMittal has a one year low of $23.14 and a one year high of $49.33. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.58 and a current ratio of 1.39. The business’s 50 day moving average price is $44.38 and its 200 day moving average price is $38.48.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, November 6th. The basic materials company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. ArcelorMittal had a return on equity of 4.94% and a net margin of 4.23%.The company had revenue of $15.66 billion for the quarter, compared to the consensus estimate of $15.88 billion. During the same quarter in the previous year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. As a group, equities research analysts expect that ArcelorMittal will post 3.72 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MT shares. The Goldman Sachs Group restated a “neutral” rating on shares of ArcelorMittal in a report on Friday, October 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of ArcelorMittal in a research report on Wednesday, October 8th. UBS Group lowered ArcelorMittal from a “buy” rating to a “neutral” rating in a research note on Monday, November 17th. Oddo Bhf raised ArcelorMittal from a “neutral” rating to an “outperform” rating in a research note on Wednesday, January 14th. Finally, Morgan Stanley upgraded ArcelorMittal from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 6th. Five analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $38.98.

ArcelorMittal Company Profile

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.