Perpetual Ltd Purchases Shares of 45,532 United States Steel Corporation (NYSE:X)

Perpetual Ltd bought a new stake in United States Steel Corporation (NYSE:X) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 45,532 shares of the basic materials company’s stock, valued at approximately $1,008,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its position in United States Steel Corporation by 24.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 10,763 shares of the basic materials company’s stock worth $363,000 after buying an additional 2,131 shares during the period. Credit Agricole S A boosted its position in United States Steel Corporation by 53.9% during the 1st quarter. Credit Agricole S A now owns 17,901 shares of the basic materials company’s stock worth $605,000 after buying an additional 6,268 shares during the period. OppenheimerFunds Inc. boosted its position in United States Steel Corporation by 16.1% during the 1st quarter. OppenheimerFunds Inc. now owns 68,615 shares of the basic materials company’s stock worth $2,320,000 after buying an additional 9,534 shares during the period. Wellington Management Group LLP boosted its position in United States Steel Corporation by 68.1% during the 1st quarter. Wellington Management Group LLP now owns 100,528 shares of the basic materials company’s stock worth $3,399,000 after buying an additional 40,708 shares during the period. Finally, FMR LLC acquired a new stake in United States Steel Corporation during the 1st quarter worth approximately $9,639,000. 63.87% of the stock is currently owned by hedge funds and other institutional investors.

Shares of United States Steel Corporation (NYSE:X) traded down 2.20% on Friday, reaching $27.08. 10,508,218 shares of the company’s stock were exchanged. The firm has a market cap of $4.74 billion, a PE ratio of 171.39 and a beta of 2.89. United States Steel Corporation has a one year low of $17.05 and a one year high of $41.83. The company has a 50 day moving average price of $26.23 and a 200 day moving average price of $24.10.

United States Steel Corporation (NYSE:X) last issued its quarterly earnings data on Tuesday, July 25th. The basic materials company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.41 by $0.66. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $2.98 billion. United States Steel Corporation had a return on equity of 6.50% and a net margin of 0.24%. United States Steel Corporation’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same period last year, the company earned ($0.32) earnings per share. Analysts expect that United States Steel Corporation will post $1.65 EPS for the current fiscal year.

In related news, CFO Kevin Bradley acquired 22,835 shares of United States Steel Corporation stock in a transaction that occurred on Wednesday, September 6th. The shares were purchased at an average price of $27.62 per share, for a total transaction of $630,702.70. Following the completion of the transaction, the chief financial officer now owns 30,415 shares in the company, valued at approximately $840,062.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eugene Sperling acquired 1,000 shares of United States Steel Corporation stock in a transaction that occurred on Friday, September 15th. The shares were bought at an average price of $25.16 per share, for a total transaction of $25,160.00. Following the transaction, the director now owns 3,009 shares of the company’s stock, valued at approximately $75,706.44. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 64,597 shares of company stock worth $1,764,452. Company insiders own 1.00% of the company’s stock.

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A number of research analysts have recently issued reports on the stock. Standpoint Research downgraded shares of United States Steel Corporation from a “buy” rating to a “reduce” rating in a research report on Tuesday, September 5th. BidaskClub upgraded shares of United States Steel Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Axiom Securities reiterated a “sell” rating on shares of United States Steel Corporation in a research report on Thursday, July 13th. Jefferies Group LLC reiterated a “buy” rating and set a $32.00 target price on shares of United States Steel Corporation in a research report on Thursday, August 31st. Finally, Barclays PLC restated an “equal weight” rating and set a $25.00 price target (up previously from $24.00) on shares of United States Steel Corporation in a research note on Wednesday, August 9th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $28.34.

United States Steel Corporation Company Profile

United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).

Institutional Ownership by Quarter for United States Steel Corporation (NYSE:X)

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