Marshall Wace North America L.P. Cuts Stake in ArcelorMittal SA (MT)

Marshall Wace North America L.P. trimmed its position in ArcelorMittal SA (NYSE:MT) by 13.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 928,947 shares of the basic materials company’s stock after selling 141,743 shares during the quarter. Marshall Wace North America L.P.’s holdings in ArcelorMittal were worth $28,667,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Greenleaf Trust boosted its position in ArcelorMittal by 18.9% during the 2nd quarter. Greenleaf Trust now owns 9,882 shares of the basic materials company’s stock valued at $284,000 after purchasing an additional 1,572 shares during the period. Raymond James & Associates raised its position in shares of ArcelorMittal by 10.4% during the second quarter. Raymond James & Associates now owns 19,110 shares of the basic materials company’s stock worth $550,000 after purchasing an additional 1,796 shares during the period. Intrust Bank NA raised its position in shares of ArcelorMittal by 6.1% during the second quarter. Intrust Bank NA now owns 32,517 shares of the basic materials company’s stock worth $936,000 after purchasing an additional 1,874 shares during the period. United Services Automobile Association raised its position in shares of ArcelorMittal by 9.5% during the third quarter. United Services Automobile Association now owns 23,568 shares of the basic materials company’s stock worth $727,000 after purchasing an additional 2,051 shares during the period. Finally, BlackRock Inc. grew its holdings in shares of ArcelorMittal by 2.7% during the second quarter. BlackRock Inc. now owns 89,829 shares of the basic materials company’s stock valued at $2,586,000 after buying an additional 2,364 shares in the last quarter. Institutional investors own 3.13% of the company’s stock.

MT has been the topic of a number of recent research reports. ValuEngine downgraded ArcelorMittal from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 23rd. Jefferies Financial Group reissued a “buy” rating on shares of ArcelorMittal in a research report on Monday, September 17th. Zacks Investment Research raised ArcelorMittal from a “hold” rating to a “strong-buy” rating and set a $35.00 price target for the company in a report on Wednesday, September 5th. Deutsche Bank reiterated a “buy” rating on shares of ArcelorMittal in a research note on Tuesday, November 6th. Finally, UBS Group upgraded ArcelorMittal from a “sell” rating to a “neutral” rating in a research report on Friday, November 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. ArcelorMittal presently has an average rating of “Buy” and a consensus target price of $37.00.

Shares of NYSE MT traded up $0.20 during midday trading on Friday, reaching $22.26. The company’s stock had a trading volume of 109,425 shares, compared to its average volume of 2,637,882. The company has a current ratio of 1.38, a quick ratio of 0.60 and a debt-to-equity ratio of 0.21. ArcelorMittal SA has a fifty-two week low of $21.48 and a fifty-two week high of $37.50. The company has a market cap of $23.29 billion, a price-to-earnings ratio of 4.22, a PEG ratio of 2.40 and a beta of 2.23.

ArcelorMittal (NYSE:MT) last posted its earnings results on Thursday, November 1st. The basic materials company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.11). The company had revenue of $18.52 billion for the quarter, compared to the consensus estimate of $19.33 billion. ArcelorMittal had a return on equity of 12.59% and a net margin of 6.62%. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.18 EPS. On average, equities research analysts forecast that ArcelorMittal SA will post 5.18 earnings per share for the current year.

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About ArcelorMittal

ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through NAFTA, Brazil, Europe, ACIS, and Mining segments. The company produces finished and semi-finished steel products with various specifications.

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Institutional Ownership by Quarter for ArcelorMittal (NYSE:MT)

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