Corient Private Wealth LLC Has $574,000 Holdings in ArcelorMittal $MT

Corient Private Wealth LLC lessened its position in ArcelorMittal (NYSE:MT) by 44.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 12,598 shares of the basic materials company’s stock after selling 10,217 shares during the period. Corient Private Wealth LLC’s holdings in ArcelorMittal were worth $574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of ArcelorMittal by 1.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,220,992 shares of the basic materials company’s stock worth $146,780,000 after purchasing an additional 49,614 shares during the period. Maple Rock Capital Partners Inc. boosted its stake in ArcelorMittal by 42.4% during the 4th quarter. Maple Rock Capital Partners Inc. now owns 1,630,600 shares of the basic materials company’s stock valued at $74,306,000 after purchasing an additional 485,400 shares during the period. UBS Group AG boosted its stake in ArcelorMittal by 405.2% during the 3rd quarter. UBS Group AG now owns 1,181,358 shares of the basic materials company’s stock valued at $42,706,000 after purchasing an additional 947,532 shares during the period. Bank of America Corp DE grew its holdings in ArcelorMittal by 15.6% in the 3rd quarter. Bank of America Corp DE now owns 947,909 shares of the basic materials company’s stock valued at $34,267,000 after buying an additional 128,045 shares during the last quarter. Finally, Retirement Systems of Alabama acquired a new stake in ArcelorMittal in the 4th quarter valued at approximately $30,721,000. Institutional investors and hedge funds own 9.29% of the company’s stock.

Analyst Ratings Changes

MT has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price target on ArcelorMittal from $60.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Weiss Ratings upgraded shares of ArcelorMittal from a “hold (c)” rating to a “buy (b-)” rating in a research note on Monday, May 4th. KeyCorp initiated coverage on shares of ArcelorMittal in a research report on Wednesday, March 25th. They set a “sector weight” rating on the stock. JPMorgan Chase & Co. cut shares of ArcelorMittal from an “overweight” rating to an “underweight” rating in a research note on Monday, March 9th. Finally, Citigroup reissued a “buy” rating on shares of ArcelorMittal in a report on Wednesday, May 20th. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $61.07.

ArcelorMittal Trading Down 0.0%

Shares of MT opened at $63.38 on Friday. The stock’s 50-day moving average price is $63.96 and its 200 day moving average price is $57.80. The company has a quick ratio of 0.54, a current ratio of 1.39 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $49.12 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 0.51 and a beta of 1.55. ArcelorMittal has a 12-month low of $30.17 and a 12-month high of $72.50.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings data on Thursday, April 30th. The basic materials company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.04. ArcelorMittal had a return on equity of 4.77% and a net margin of 4.71%.The company had revenue of $15.46 billion during the quarter, compared to the consensus estimate of $17.04 billion. During the same quarter last year, the company earned $1.05 EPS. The company’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, research analysts predict that ArcelorMittal will post 4.72 earnings per share for the current year.

ArcelorMittal Company Profile

ArcelorMittal is a multinational steel manufacturing company formed in 2006 through the merger of Arcelor and Mittal Steel. Headquartered in Luxembourg, the company is one of the world’s largest producers of steel and operates an integrated value chain that spans raw material extraction, steelmaking, processing and distribution. Its product portfolio includes flat and long carbon steel products, coated and specialty steels, tubular products and value-added solutions tailored for sectors such as automotive, construction, household appliances, energy and packaging.

ArcelorMittal’s operations are global in scope, with production facilities, distribution networks and commercial activities across Europe, the Americas, Asia, Africa and the Commonwealth of Independent States.