MMCAP International Inc. SPC Sells 163,279 Shares of ArcelorMittal S.A. (NYSE:MT)

MMCAP International Inc. SPC reduced its stake in shares of ArcelorMittal S.A. (NYSE:MT) by 54.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 138,350 shares of the basic materials company’s stock after selling 163,279 shares during the period. MMCAP International Inc. SPC’s holdings in ArcelorMittal were worth $3,200,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of MT. Geneos Wealth Management Inc. raised its position in shares of ArcelorMittal by 89.6% in the 4th quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock worth $26,000 after acquiring an additional 536 shares in the last quarter. GAMMA Investing LLC raised its position in shares of ArcelorMittal by 68.5% in the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 595 shares in the last quarter. Park Avenue Securities LLC bought a new position in shares of ArcelorMittal in the 4th quarter worth about $212,000. Atria Investments Inc bought a new position in shares of ArcelorMittal in the 3rd quarter worth about $244,000. Finally, Janney Montgomery Scott LLC bought a new position in shares of ArcelorMittal in the 4th quarter worth about $233,000. 9.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Bank of America raised ArcelorMittal from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $30.00 to $32.90 in a research report on Thursday, November 14th. Morgan Stanley downgraded ArcelorMittal from an “overweight” rating to an “equal weight” rating in a research note on Friday, February 14th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $31.17.

ArcelorMittal Stock Performance

Shares of MT opened at $27.92 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.35 and a quick ratio of 0.59. The stock has a 50-day moving average of $24.75 and a 200-day moving average of $24.42. The company has a market cap of $22.87 billion, a PE ratio of 16.92, a P/E/G ratio of 0.14 and a beta of 1.74. ArcelorMittal S.A. has a one year low of $20.52 and a one year high of $29.38.

ArcelorMittal (NYSE:MT) last released its quarterly earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). ArcelorMittal had a net margin of 2.14% and a return on equity of 4.31%. On average, equities research analysts predict that ArcelorMittal S.A. will post 3.72 EPS for the current fiscal year.

About ArcelorMittal

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.