163,869 ArcelorMittal $MT Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its position in ArcelorMittal (NYSE:MT) by 24.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 510,281 shares of the basic materials company’s stock after selling 163,869 shares during the quarter. Retirement Systems of Alabama owned about 0.07% of ArcelorMittal worth $34,056,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of ArcelorMittal by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,232,495 shares of the basic materials company’s stock worth $168,008,000 after buying an additional 11,503 shares during the last quarter. Maple Rock Capital Partners Inc. raised its position in shares of ArcelorMittal by 54.9% during the 2nd quarter. Maple Rock Capital Partners Inc. now owns 2,190,860 shares of the basic materials company’s stock valued at $131,934,000 after buying an additional 776,595 shares during the period. Quantinno Capital Management LP lifted its holdings in ArcelorMittal by 11.7% in the first quarter. Quantinno Capital Management LP now owns 335,931 shares of the basic materials company’s stock valued at $17,461,000 after acquiring an additional 35,298 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in ArcelorMittal by 1,317.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 75,105 shares of the basic materials company’s stock valued at $3,904,000 after acquiring an additional 69,805 shares during the last quarter. Finally, ABC Arbitrage SA acquired a new position in ArcelorMittal in the first quarter valued at approximately $3,819,000. 9.29% of the stock is currently owned by institutional investors and hedge funds.

ArcelorMittal Price Performance

ArcelorMittal stock opened at $65.69 on Wednesday. The company’s 50 day simple moving average is $66.94 and its 200-day simple moving average is $64.06. The company has a market capitalization of $50.91 billion, a price-to-earnings ratio of 17.59, a price-to-earnings-growth ratio of 0.76 and a beta of 1.55. ArcelorMittal has a 1 year low of $38.67 and a 1 year high of $79.68. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.53 and a current ratio of 1.41.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings data on Thursday, November 5th. The basic materials company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.35. The firm had revenue of $16.47 billion during the quarter, compared to analysts’ expectations of $17.77 billion. ArcelorMittal had a net margin of 1.64% and a return on equity of 4.89%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $0.62 EPS. As a group, equities research analysts expect that ArcelorMittal will post 3.07 earnings per share for the current year.

Wall Street Analyst Weigh In

MT has been the subject of several analyst reports. Morgan Stanley began coverage on ArcelorMittal in a research report on Monday, August 24th. They issued an “overweight” rating and a $82.00 price objective for the company. Citigroup restated a “buy” rating on shares of ArcelorMittal in a research report on Tuesday, August 4th. JPMorgan Chase & Co. upgraded ArcelorMittal from a “neutral” rating to an “overweight” rating in a research report on Thursday, October 15th. Jefferies Financial Group reaffirmed a “buy” rating on shares of ArcelorMittal in a research note on Wednesday, September 23rd. Finally, UBS Group upgraded ArcelorMittal from a “neutral” rating to a “buy” rating in a report on Friday, October 9th. Eight research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $74.55.

ArcelorMittal Profile

ArcelorMittal is a global steel and mining company that produces steel products for customers across industries including automotive, construction, energy, appliances and packaging. Its offerings include flat and long steel products, as well as iron ore and metallurgical coal used in steelmaking. The company operates across the Americas, Europe and other regions, combining mining and steelmaking activities with research and product development. ArcelorMittal was formed in 2006 through the merger of Arcelor and Mittal Steel.