Teachers Retirement System of The State of Kentucky Cuts Stock Holdings in ArcelorMittal S.A. (NYSE:MT)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of ArcelorMittal S.A. (NYSE:MT) by 7.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,850 shares of the basic materials company’s stock after selling 9,250 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in ArcelorMittal were worth $3,361,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets bought a new position in shares of ArcelorMittal in the first quarter valued at approximately $2,705,000. Goldman Sachs Group Inc. increased its position in shares of ArcelorMittal by 8.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 839,485 shares of the basic materials company’s stock valued at $23,833,000 after purchasing an additional 66,813 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of ArcelorMittal during the 4th quarter worth $5,160,000. PNC Financial Services Group Inc. raised its stake in shares of ArcelorMittal by 24.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,115 shares of the basic materials company’s stock worth $117,000 after purchasing an additional 818 shares during the period. Finally, Quantbot Technologies LP boosted its holdings in shares of ArcelorMittal by 160.6% in the 1st quarter. Quantbot Technologies LP now owns 57,664 shares of the basic materials company’s stock worth $1,590,000 after buying an additional 35,535 shares during the last quarter. 9.88% of the stock is owned by hedge funds and other institutional investors.

ArcelorMittal Stock Performance

NYSE:MT traded down $0.32 on Friday, reaching $21.10. 2,533,580 shares of the company’s stock were exchanged, compared to its average volume of 1,739,784. The stock has a fifty day simple moving average of $23.71 and a 200-day simple moving average of $25.58. ArcelorMittal S.A. has a 52 week low of $21.02 and a 52 week high of $29.01. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.55 and a quick ratio of 0.65. The firm has a market cap of $16.99 billion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 0.34 and a beta of 1.77.

ArcelorMittal (NYSE:MT) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.63 earnings per share for the quarter, missing the consensus estimate of $1.12 by ($0.49). The company had revenue of $16.25 billion during the quarter, compared to analysts’ expectations of $16.32 billion. ArcelorMittal had a negative net margin of 0.93% and a positive return on equity of 5.94%. ArcelorMittal’s revenue for the quarter was down 12.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.20 earnings per share. As a group, sell-side analysts predict that ArcelorMittal S.A. will post 3.92 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of ArcelorMittal from $30.00 to $29.00 and set a “hold” rating on the stock in a research report on Friday. The Goldman Sachs Group began coverage on ArcelorMittal in a report on Thursday, May 9th. They set a “neutral” rating and a $29.60 price objective for the company. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $29.30.

About ArcelorMittal

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.