Renaissance Technologies LLC reduced its position in shares of ArcelorMittal SA (NYSE:MT) by 83.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,157,679 shares of the company’s stock after selling 5,806,552 shares during the period. Renaissance Technologies LLC’s holdings in ArcelorMittal SA were worth $8,470,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new position in shares of ArcelorMittal SA during the fourth quarter worth about $6,575,000. FMR LLC increased its position in shares of ArcelorMittal SA by 735.3% in the fourth quarter. FMR LLC now owns 2,870,010 shares of the company’s stock worth $20,951,000 after buying an additional 2,526,400 shares during the period. Baird Financial Group Inc. increased its position in shares of ArcelorMittal SA by 15.8% in the fourth quarter. Baird Financial Group Inc. now owns 16,715 shares of the company’s stock worth $122,000 after buying an additional 2,286 shares during the period. Oxford Asset Management acquired a new position in shares of ArcelorMittal SA during the fourth quarter worth about $1,275,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of ArcelorMittal SA by 176.2% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 66,618 shares of the company’s stock worth $486,000 after buying an additional 42,500 shares during the period. 3.46% of the stock is owned by institutional investors and hedge funds.
ArcelorMittal SA (NYSE:MT) opened at 8.29 on Friday. ArcelorMittal SA has a 52 week low of $4.15 and a 52 week high of $9.37. The firm has a 50-day moving average price of $8.73 and a 200 day moving average price of $7.48. The company has a market cap of $25.35 billion, a P/E ratio of 13.37 and a beta of 2.06.
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A number of research analysts have issued reports on the company. Zacks Investment Research upgraded ArcelorMittal SA from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research note on Thursday, December 1st. Jefferies Group LLC restated a “buy” rating and issued a $10.00 price objective on shares of ArcelorMittal SA in a research note on Friday, February 10th. Goldman Sachs Group Inc restated a “buy” rating on shares of ArcelorMittal SA in a research note on Friday, February 17th. Cowen and Company upgraded ArcelorMittal SA from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $10.00 to $11.00 in a research note on Thursday. They noted that the move was a valuation call. Finally, Commerzbank Ag upgraded ArcelorMittal SA from a “hold” rating to a “buy” rating in a research note on Wednesday, January 18th. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $6.70.
About ArcelorMittal SA
ArcelorMittal SA is a Luxembourg- based holding company. It is an integrated steel and mining company. It operates through five segments: NAFTA; Europe; Brazil; Africa and Commonwealth of Independent States (ACIS) and Mining. The NAFTA segment produces flat, long and tubular products. The Brazil segment includes the flat operations of Brazil, and the long and tubular operations of Brazil and neighboring countries.
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