Trust Co. of Toledo NA OH Sells 2,951 Shares of ArcelorMittal S.A. (NYSE:MT)

Trust Co. of Toledo NA OH decreased its position in ArcelorMittal S.A. (NYSE:MT) by 10.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,411 shares of the basic materials company’s stock after selling 2,951 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in ArcelorMittal were worth $588,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MT. GAMMA Investing LLC lifted its holdings in ArcelorMittal by 68.5% in the fourth quarter. GAMMA Investing LLC now owns 1,464 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 595 shares during the period. Rhumbline Advisers lifted its holdings in ArcelorMittal by 6.8% in the second quarter. Rhumbline Advisers now owns 9,633 shares of the basic materials company’s stock valued at $221,000 after acquiring an additional 610 shares during the period. Atria Investments Inc bought a new position in ArcelorMittal in the third quarter valued at about $244,000. Truist Financial Corp purchased a new stake in ArcelorMittal in the second quarter worth about $250,000. Finally, Blue Trust Inc. increased its position in ArcelorMittal by 382.9% in the third quarter. Blue Trust Inc. now owns 9,735 shares of the basic materials company’s stock worth $256,000 after buying an additional 7,719 shares in the last quarter. Institutional investors own 9.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Bank of America upgraded ArcelorMittal from a “neutral” rating to a “buy” rating and upped their price target for the stock from $30.00 to $32.90 in a research report on Thursday, November 14th. JPMorgan Chase & Co. cut ArcelorMittal from an “overweight” rating to a “neutral” rating in a research report on Friday, October 11th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, ArcelorMittal has an average rating of “Moderate Buy” and an average target price of $31.17.

ArcelorMittal Stock Performance

NYSE:MT opened at $22.30 on Tuesday. The company has a current ratio of 1.46, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. ArcelorMittal S.A. has a 12-month low of $20.52 and a 12-month high of $28.95. The stock has a 50-day moving average price of $24.21 and a 200 day moving average price of $23.67. The stock has a market capitalization of $17.96 billion, a P/E ratio of -15.82, a P/E/G ratio of 0.61 and a beta of 1.75.

ArcelorMittal (NYSE:MT) last released its earnings results on Thursday, November 7th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.05. ArcelorMittal had a positive return on equity of 5.26% and a negative net margin of 1.99%. The firm had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.11 billion. During the same quarter last year, the business posted $1.10 earnings per share. The firm’s revenue was down 8.5% on a year-over-year basis. Equities research analysts forecast that ArcelorMittal S.A. will post 2.93 EPS for the current fiscal year.

ArcelorMittal 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.