Cerity Partners LLC Sells 184,942 Shares of ArcelorMittal S.A. (NYSE:MT)

Cerity Partners LLC decreased its stake in ArcelorMittal S.A. (NYSE:MT - Free Report) by 39.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 279,373 shares of the basic materials company's stock after selling 184,942 shares during the quarter. Cerity Partners LLC's holdings in ArcelorMittal were worth $6,462,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in ArcelorMittal by 221.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,403,048 shares of the basic materials company's stock valued at $78,712,000 after buying an additional 2,344,020 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of ArcelorMittal by 146.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,535,319 shares of the basic materials company's stock worth $35,512,000 after buying an additional 912,984 shares during the last quarter. OLD Mission Capital LLC boosted its holdings in ArcelorMittal by 145.8% during the fourth quarter. OLD Mission Capital LLC now owns 678,350 shares of the basic materials company's stock valued at $15,690,000 after acquiring an additional 402,402 shares during the period. ABC Arbitrage SA acquired a new stake in shares of ArcelorMittal in the fourth quarter worth $9,895,000. Finally, Envestnet Asset Management Inc. grew its position in ArcelorMittal by 14.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 348,819 shares of the basic materials company's stock worth $8,068,000 after purchasing an additional 45,255 shares during the last quarter. Institutional investors and hedge funds own 9.29% of the company's stock.

Analyst Upgrades and Downgrades

MT has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of ArcelorMittal in a report on Monday. Morgan Stanley lowered shares of ArcelorMittal from an "overweight" rating to an "equal weight" rating in a report on Friday, February 14th. The Goldman Sachs Group upgraded shares of ArcelorMittal from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $29.00 to $31.70 in a research report on Thursday, April 10th. Finally, Jefferies Financial Group lowered shares of ArcelorMittal from a "buy" rating to a "hold" rating and set a $36.20 target price on the stock. in a research note on Wednesday, March 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, ArcelorMittal currently has an average rating of "Moderate Buy" and a consensus target price of $32.95.

ArcelorMittal Stock Up 1.4 %

Shares of NYSE MT traded up $0.39 during mid-day trading on Thursday, hitting $27.31. The company had a trading volume of 561,286 shares, compared to its average volume of 1,855,957. ArcelorMittal S.A. has a one year low of $20.52 and a one year high of $34.90. The company has a market capitalization of $22.37 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 0.14 and a beta of 1.60. The company has a current ratio of 1.35, a quick ratio of 0.59 and a debt-to-equity ratio of 0.17. The firm has a 50-day simple moving average of $29.04 and a two-hundred day simple moving average of $26.01.

ArcelorMittal (NYSE:MT - Get Free Report) last released its earnings results on Thursday, February 6th. The basic materials company reported $0.52 earnings per share for the quarter, missing the consensus estimate 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 analysts expect that ArcelorMittal S.A. will post 3.72 EPS for the current year.

ArcelorMittal Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, December 3rd. Shareholders of record on Thursday, November 13th will be issued a dividend of $0.275 per share. This represents a yield of 1.5%. The ex-dividend date of this dividend is Wednesday, November 12th. ArcelorMittal's dividend payout ratio is 27.88%.

ArcelorMittal Company 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.