Highland Capital Management LLC Sells 433 Shares of ArcelorMittal S.A. (NYSE:MT)

Highland Capital Management LLC trimmed its stake in ArcelorMittal S.A. (NYSE:MT) by 1.8% in the 4th quarter, HoldingsChannel reports. The fund owned 23,095 shares of the basic materials company’s stock after selling 433 shares during the quarter. Highland Capital Management LLC’s holdings in ArcelorMittal were worth $534,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MT. Geneos Wealth Management Inc. increased its position in shares of ArcelorMittal by 89.6% during the fourth quarter. Geneos Wealth Management Inc. now owns 1,134 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 536 shares in the last quarter. GAMMA Investing LLC increased its position in ArcelorMittal by 68.5% during the 4th quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock valued at $34,000 after buying an additional 595 shares in the last quarter. Eagle Asset Management Inc. raised its stake in ArcelorMittal by 11.2% in the third quarter. Eagle Asset Management Inc. now owns 16,008 shares of the basic materials company’s stock valued at $418,000 after buying an additional 1,615 shares during the last quarter. Seascape Capital Management boosted its holdings in ArcelorMittal by 7.4% in the third quarter. Seascape Capital Management now owns 26,170 shares of the basic materials company’s stock worth $687,000 after acquiring an additional 1,812 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of ArcelorMittal by 7.9% during the third quarter. Signaturefd LLC now owns 30,011 shares of the basic materials company’s stock worth $788,000 after acquiring an additional 2,199 shares during the last quarter. Institutional investors own 9.29% of the company’s stock.

ArcelorMittal Trading Down 2.1 %

ArcelorMittal stock opened at $24.71 on Friday. The stock has a 50-day moving average price of $23.87 and a 200 day moving average price of $23.75. The company has a market capitalization of $20.24 billion, a price-to-earnings ratio of -17.52, a price-to-earnings-growth ratio of 0.49 and a beta of 1.75. ArcelorMittal S.A. has a 52 week low of $20.52 and a 52 week high of $28.95. The company has a quick ratio of 0.59, a current ratio of 1.46 and a debt-to-equity ratio of 0.16.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Thursday, November 7th. The basic materials company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.58 by $0.05. The business had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.11 billion. ArcelorMittal had a negative net margin of 1.99% and a positive return on equity of 5.26%. The business’s quarterly revenue was down 8.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.10 EPS. Sell-side analysts anticipate that ArcelorMittal S.A. will post 2.73 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MT shares. JPMorgan Chase & Co. lowered shares of ArcelorMittal from an “overweight” rating to a “neutral” rating in a research report on Friday, October 11th. Bank of America raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating and raised their price target for the stock from $30.00 to $32.90 in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, ArcelorMittal presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.17.

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.