Stevens Capital Management LP Reduces Holdings in ArcelorMittal (MT)

Stevens Capital Management LP trimmed its position in ArcelorMittal (NYSE:MT) by 69.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 86,880 shares of the basic materials company’s stock after selling 194,923 shares during the period. Stevens Capital Management LP’s holdings in ArcelorMittal were worth $2,238,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Cetera Investment Advisers purchased a new position in ArcelorMittal in the second quarter worth about $2,165,000. Exane Derivatives boosted its position in ArcelorMittal by 67.2% in the second quarter. Exane Derivatives now owns 219,590 shares of the basic materials company’s stock worth $4,991,000 after purchasing an additional 88,276 shares during the last quarter. Ameriprise Financial Inc. boosted its position in ArcelorMittal by 0.5% in the first quarter. Ameriprise Financial Inc. now owns 53,502 shares of the basic materials company’s stock worth $447,000 after purchasing an additional 285 shares during the last quarter. FMR LLC boosted its position in ArcelorMittal by 2.3% in the first quarter. FMR LLC now owns 2,937,110 shares of the basic materials company’s stock worth $24,525,000 after purchasing an additional 67,100 shares during the last quarter. Finally, Cambiar Investors LLC purchased a new position in ArcelorMittal in the second quarter worth about $114,710,000. 3.60% of the stock is currently owned by institutional investors and hedge funds.

Shares of ArcelorMittal (MT) opened at $29.14 on Friday. The stock has a market capitalization of $29,682.24, a P/E ratio of 7.32 and a beta of 2.19. ArcelorMittal has a 12 month low of $19.59 and a 12 month high of $30.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.42 and a current ratio of 1.23.

ArcelorMittal (NYSE:MT) last issued its earnings results on Friday, November 10th. The basic materials company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.32. The company had revenue of $17.64 billion for the quarter, compared to the consensus estimate of $17.08 billion. ArcelorMittal had a return on equity of 10.52% and a net margin of 5.50%. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter last year, the company earned $0.22 EPS. equities analysts forecast that ArcelorMittal will post 3.3 earnings per share for the current fiscal year.

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MT has been the topic of several research reports. Cowen and Company reissued a “buy” rating and issued a $32.00 target price on shares of ArcelorMittal in a research report on Wednesday, July 19th. Zacks Investment Research cut ArcelorMittal from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 7th. ValuEngine cut ArcelorMittal from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Deutsche Bank AG reissued a “buy” rating on shares of ArcelorMittal in a research report on Thursday, August 17th. Finally, UBS AG reaffirmed a “buy” rating on shares of ArcelorMittal in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $32.72.

ArcelorMittal Profile

ArcelorMittal SA (ArcelorMittal) is a holding company. The Company, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia and Africa. ArcelorMittal operates through five segments, which include NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS), and Mining.

Institutional Ownership by Quarter for ArcelorMittal (NYSE:MT)

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