California Public Employees Retirement System raised its holdings in United States Steel Co. (NYSE:X) by 1.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 373,325 shares of the basic materials company’s stock after purchasing an additional 7,025 shares during the period. California Public Employees Retirement System owned 0.21% of United States Steel worth $9,580,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Enterprise Financial Services Corp purchased a new position in United States Steel during the third quarter worth approximately $120,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in United States Steel by 10.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,975 shares of the basic materials company’s stock worth $154,000 after purchasing an additional 674 shares during the period. NJ State Employees Deferred Compensation Plan purchased a new position in United States Steel during the third quarter worth approximately $205,000. Advisor Group Inc. increased its position in shares of United States Steel by 3.2% in the second quarter. Advisor Group Inc. now owns 9,834 shares of the basic materials company’s stock worth $218,000 after acquiring an additional 308 shares in the last quarter. Finally, MML Investors Services LLC increased its position in shares of United States Steel by 41.1% in the second quarter. MML Investors Services LLC now owns 9,990 shares of the basic materials company’s stock worth $221,000 after acquiring an additional 2,910 shares in the last quarter. 64.22% of the stock is currently owned by institutional investors.
United States Steel Co. (NYSE X) opened at $39.14 on Friday. The company has a current ratio of 1.89, a quick ratio of 1.23 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $6,850.00, a price-to-earnings ratio of 57.56, a price-to-earnings-growth ratio of 1.69 and a beta of 3.00. United States Steel Co. has a 12-month low of $18.55 and a 12-month high of $41.83.
United States Steel (NYSE:X) last posted its quarterly earnings data on Tuesday, October 31st. The basic materials company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.25. United States Steel had a return on equity of 10.27% and a net margin of 1.05%. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter last year, the business earned $0.40 EPS. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. sell-side analysts forecast that United States Steel Co. will post 1.8 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on X shares. BMO Capital Markets raised their price target on shares of United States Steel from $29.00 to $33.00 and gave the company a “market perform” rating in a report on Thursday, November 2nd. ValuEngine raised shares of United States Steel from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Cowen upgraded shares of United States Steel from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $20.00 to $28.00 in a research report on Thursday, November 2nd. Longbow Research reissued a “neutral” rating on shares of United States Steel in a research note on Tuesday, October 3rd. Finally, Bank of America set a $46.00 target price on shares of United States Steel and gave the company a “buy” rating in a research note on Monday, January 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $31.14.
In other United States Steel news, insider Richard Fruehauf sold 5,959 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $30.00, for a total value of $178,770.00. Following the transaction, the insider now owns 7,960 shares of the company’s stock, valued at $238,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Colleen M. Darragh sold 9,700 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $30.00, for a total value of $291,000.00. Following the sale, the vice president now directly owns 19,136 shares in the company, valued at approximately $574,080. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,698 shares of company stock worth $2,535,286. Insiders own 1.00% of the company’s stock.
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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).
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