Mechel PAO (MTL) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in shares of Mechel PAO (NYSE:MTL) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,043,250 shares of the basic materials company’s stock after selling 19,800 shares during the quarter. California Public Employees Retirement System owned about 0.50% of Mechel PAO worth $4,830,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its stake in shares of Mechel PAO by 288.7% during the second quarter. BNP Paribas Arbitrage SA now owns 62,863 shares of the basic materials company’s stock valued at $291,000 after acquiring an additional 46,692 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Mechel PAO by 26.3% during the first quarter. Goldman Sachs Group Inc. now owns 169,874 shares of the basic materials company’s stock valued at $903,000 after acquiring an additional 35,364 shares during the period. Jane Street Group LLC acquired a new position in shares of Mechel PAO during the first quarter valued at approximately $855,000. Bank of America Corp DE increased its stake in shares of Mechel PAO by 11.9% during the first quarter. Bank of America Corp DE now owns 479,856 shares of the basic materials company’s stock valued at $2,553,000 after acquiring an additional 50,980 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Mechel PAO by 21.0% during the first quarter. Parametric Portfolio Associates LLC now owns 916,099 shares of the basic materials company’s stock valued at $4,874,000 after acquiring an additional 158,851 shares during the period. Institutional investors and hedge funds own 8.31% of the company’s stock.

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Mechel PAO (NYSE MTL) opened at 5.26 on Friday. Mechel PAO has a 1-year low of $3.60 and a 1-year high of $6.83. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 4.76 and a beta of -1.18. The company’s 50 day moving average is $5.26 and its 200-day moving average is $5.16.

A number of research analysts recently commented on MTL shares. BidaskClub upgraded shares of Mechel PAO from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th. ValuEngine lowered shares of Mechel PAO from a “buy” rating to a “hold” rating in a research note on Friday, September 1st.

About Mechel PAO

Mechel PAO, formerly Mechel OAO, is a holding company. The Company operates in the mining, steel and power industry segments. Its segments include Steel segment, comprising production and sales of semi-finished steel products, carbon and specialty long products, carbon and stainless flat products, and value-added downstream metal products, including forgings, stampings, and hardware, and ferrosilicon; Mining segment, comprising production and sales of coal (coking and steam), and middlings, coke and chemical products, and iron ore, which supplies raw materials to the Steel and Power segments, and also sells raw materials to third parties, and Power segment, comprising generation and sales of electricity and heat power, which supplies electricity and heat power to the Steel and Mining segments, and also sells a portion of electricity and heat power to third parties.

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Institutional Ownership by Quarter for Mechel PAO (NYSE:MTL)

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