Prudential Financial Inc. Has $17.16 Million Holdings in United States Steel Corporation (NYSE:X)

Prudential Financial Inc. increased its stake in shares of United States Steel Corporation (NYSE:X) by 524.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 668,811 shares of the basic materials company’s stock after buying an additional 561,758 shares during the quarter. Prudential Financial Inc. owned about 0.38% of United States Steel worth $17,161,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Advisor Group Inc. boosted its holdings in United States Steel by 3.2% in the 2nd quarter. Advisor Group Inc. now owns 9,834 shares of the basic materials company’s stock valued at $218,000 after purchasing an additional 308 shares in the last quarter. Capstone Asset Management Co. boosted its holdings in United States Steel by 3.6% in the 2nd quarter. Capstone Asset Management Co. now owns 15,371 shares of the basic materials company’s stock valued at $340,000 after purchasing an additional 540 shares in the last quarter. Public Employees Retirement Association of Colorado boosted its holdings in United States Steel by 1.9% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 32,591 shares of the basic materials company’s stock valued at $722,000 after purchasing an additional 606 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in United States Steel by 10.7% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,975 shares of the basic materials company’s stock valued at $154,000 after purchasing an additional 674 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in United States Steel by 1.7% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 52,267 shares of the basic materials company’s stock valued at $1,157,000 after purchasing an additional 889 shares in the last quarter. 64.27% of the stock is currently owned by hedge funds and other institutional investors.

United States Steel Corporation (NYSE:X) traded up $0.54 during midday trading on Monday, reaching $29.84. 10,943,137 shares of the company’s stock traded hands, compared to its average volume of 16,579,719. The company has a quick ratio of 1.23, a current ratio of 1.89 and a debt-to-equity ratio of 1.03. United States Steel Corporation has a 52 week low of $18.55 and a 52 week high of $41.83. The firm has a market cap of $5,220.00, a price-to-earnings ratio of 20.49 and a beta of 3.00.

United States Steel (NYSE:X) last issued its earnings results on Tuesday, October 31st. The basic materials company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.25. United States Steel had a net margin of 1.05% and a return on equity of 10.27%. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same period in the previous year, the business earned $0.40 EPS. The firm’s revenue was up 20.9% on a year-over-year basis. sell-side analysts forecast that United States Steel Corporation will post 1.8 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Thursday, November 9th. United States Steel’s dividend payout ratio is currently 29.41%.

In other news, Director Eugene Sperling purchased 1,000 shares of the company’s stock in a transaction on Friday, September 15th. The shares were purchased at an average cost of $25.16 per share, with a total value of $25,160.00. Following the completion of the transaction, the director now owns 3,009 shares of the company’s stock, valued at approximately $75,706.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kevin Bradley purchased 22,835 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were purchased at an average cost of $27.62 per share, for a total transaction of $630,702.70. Following the completion of the transaction, the chief financial officer now directly owns 30,415 shares of the company’s stock, valued at approximately $840,062.30. The disclosure for this purchase can be found here. Insiders have purchased a total of 60,597 shares of company stock valued at $1,656,892 over the last three months. 1.00% of the stock is currently owned by insiders.

A number of brokerages have weighed in on X. Barclays reaffirmed an “equal weight” rating and issued a $25.00 price objective (up previously from $24.00) on shares of United States Steel in a report on Wednesday, August 9th. KeyCorp reissued a “hold” rating on shares of United States Steel in a research note on Friday, November 17th. Longbow Research reissued a “neutral” rating on shares of United States Steel in a research note on Tuesday, October 3rd. Cowen lowered United States Steel from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $24.00 to $20.00 in a research note on Friday, September 22nd. Finally, Jefferies Group restated a “buy” rating on shares of United States Steel in a research report on Monday, September 18th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $29.34.

TRADEMARK VIOLATION WARNING: This report was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this report can be read at https://www.dispatchtribunal.com/2017/12/04/united-states-steel-corporation-x-shares-bought-by-prudential-financial-inc.html.

United States Steel 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 (NYSE:X)

Receive News & Ratings for United States Steel Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United States Steel Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply