Intrust Bank NA Reduces Position in ArcelorMittal SA (NYSE:MT)

Intrust Bank NA lessened its stake in shares of ArcelorMittal SA (NYSE:MT) by 55.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,018 shares of the basic materials company’s stock after selling 13,892 shares during the period. Intrust Bank NA’s holdings in ArcelorMittal were worth $199,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in MT. Geode Capital Management LLC raised its stake in shares of ArcelorMittal by 289.5% during the 4th quarter. Geode Capital Management LLC now owns 27,293 shares of the basic materials company’s stock worth $563,000 after acquiring an additional 20,285 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of ArcelorMittal during the 1st quarter worth approximately $214,000. Creative Planning lifted its position in shares of ArcelorMittal by 8.4% during the 1st quarter. Creative Planning now owns 11,756 shares of the basic materials company’s stock worth $240,000 after buying an additional 908 shares during the period. BNP Paribas Arbitrage SA lifted its position in shares of ArcelorMittal by 4,549.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,533 shares of the basic materials company’s stock worth $113,000 after buying an additional 5,414 shares during the period. Finally, Bank of Montreal Can lifted its position in shares of ArcelorMittal by 2,543.6% during the 1st quarter. Bank of Montreal Can now owns 201,417 shares of the basic materials company’s stock worth $4,104,000 after buying an additional 193,798 shares during the period. 2.81% of the stock is currently owned by institutional investors.

Several equities analysts recently commented on the company. TheStreet downgraded ArcelorMittal from a “b-” rating to a “c+” rating in a research report on Tuesday, May 21st. ValuEngine downgraded shares of ArcelorMittal from a “sell” rating to a “strong sell” rating in a research note on Friday, May 24th. Credit Suisse Group reissued a “buy” rating on shares of ArcelorMittal in a research note on Wednesday. Finally, Goldman Sachs Group raised shares of ArcelorMittal from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 12th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. ArcelorMittal has a consensus rating of “Hold” and an average target price of $27.52.

NYSE:MT traded down $0.09 during trading hours on Friday, hitting $15.23. 115,447 shares of the company were exchanged, compared to its average volume of 2,818,791. The company’s 50 day moving average price is $14.71 and its 200-day moving average price is $18.32. The stock has a market capitalization of $15.09 billion, a price-to-earnings ratio of 2.64 and a beta of 2.41. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.41 and a quick ratio of 0.52. ArcelorMittal SA has a 52-week low of $12.53 and a 52-week high of $32.73.

ArcelorMittal (NYSE:MT) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.49 EPS for the quarter, meeting the consensus estimate of $0.49. The business had revenue of $19.28 billion for the quarter, compared to the consensus estimate of $18.90 billion. ArcelorMittal had a net margin of 2.73% and a return on equity of 8.39%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.83 EPS. On average, equities analysts predict that ArcelorMittal SA will post 0.9 earnings per share for the current year.

ArcelorMittal Profile

ArcelorMittal, together with its subsidiaries, owns and operates steel manufacturing and mining facilities in Europe, North and South America, Asia, and Africa. It operates through five segments: NAFTA, Brazil, Europe, ACIS, and Mining. The company produces finished and semi-finished steel products with various specifications.

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Institutional Ownership by Quarter for ArcelorMittal (NYSE:MT)

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