ArcelorMittal S.A. (NYSE:MT) Shares Sold by Gallacher Capital Management LLC

Gallacher Capital Management LLC lessened its position in ArcelorMittal S.A. (NYSE:MT) by 15.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,252 shares of the basic materials company’s stock after selling 2,111 shares during the period. Gallacher Capital Management LLC’s holdings in ArcelorMittal were worth $319,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MT. Todd Asset Management LLC raised its holdings in ArcelorMittal by 20.5% in the 4th quarter. Todd Asset Management LLC now owns 131,100 shares of the basic materials company’s stock valued at $3,722,000 after acquiring an additional 22,300 shares during the last quarter. Natixis Advisors L.P. lifted its position in ArcelorMittal by 22.9% during the fourth quarter. Natixis Advisors L.P. now owns 31,790 shares of the basic materials company’s stock worth $902,000 after buying an additional 5,933 shares during the period. Van ECK Associates Corp lifted its position in ArcelorMittal by 1.2% during the fourth quarter. Van ECK Associates Corp now owns 246,001 shares of the basic materials company’s stock worth $6,984,000 after buying an additional 3,031 shares during the period. Russell Investments Group Ltd. boosted its stake in ArcelorMittal by 2,707.2% in the 4th quarter. Russell Investments Group Ltd. now owns 9,769 shares of the basic materials company’s stock worth $277,000 after buying an additional 9,421 shares during the last quarter. Finally, Truist Financial Corp purchased a new stake in ArcelorMittal in the 4th quarter valued at about $233,000. Hedge funds and other institutional investors own 9.88% of the company’s stock.

ArcelorMittal Trading Down 0.8 %

Shares of NYSE MT traded down $0.21 during midday trading on Monday, hitting $26.01. The stock had a trading volume of 2,149,467 shares, compared to its average volume of 1,580,047. The company has a quick ratio of 0.65, a current ratio of 1.55 and a debt-to-equity ratio of 0.15. ArcelorMittal S.A. has a 1-year low of $21.30 and a 1-year high of $29.15. The company has a market capitalization of $20.95 billion, a price-to-earnings ratio of 29.46, a PEG ratio of 0.42 and a beta of 1.93. The company has a fifty day moving average price of $26.41 and a 200 day moving average price of $26.04.

ArcelorMittal (NYSE:MT) last posted its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.93 by $0.23. ArcelorMittal had a net margin of 1.15% and a return on equity of 8.29%. The firm had revenue of $16.28 billion for the quarter, compared to analyst estimates of $16.67 billion. During the same quarter last year, the firm posted $1.27 earnings per share. ArcelorMittal’s revenue for the quarter was down 12.0% compared to the same quarter last year. On average, analysts predict that ArcelorMittal S.A. will post 3.91 earnings per share for the current year.

ArcelorMittal Announces Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Wednesday, June 12th. Investors of record on Friday, May 17th will be given a dividend of $0.213 per share. The ex-dividend date of this dividend is Thursday, May 16th. ArcelorMittal’s dividend payout ratio (DPR) is 41.57%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MT. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $31.00 target price (down from $34.00) on shares of ArcelorMittal in a research report on Tuesday, April 16th. StockNews.com cut shares of ArcelorMittal from a “buy” rating to a “hold” rating in a research note on Monday, March 4th.

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.