Cornerstone Capital Management Holdings LLC. increased its stake in shares of United States Steel Co. (NYSE:X) by 4,075.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 492,676 shares of the basic materials company’s stock after acquiring an additional 480,876 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.28% of United States Steel worth $17,335,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. CoreCommodity Management LLC bought a new stake in United States Steel in the 4th quarter valued at $152,000. US Bancorp DE increased its holdings in United States Steel by 81.2% in the 4th quarter. US Bancorp DE now owns 4,563 shares of the basic materials company’s stock valued at $160,000 after buying an additional 2,045 shares during the period. Calamos Advisors LLC bought a new stake in United States Steel in the 4th quarter valued at $201,000. Dynamic Advisors Solutions LLC bought a new stake in United States Steel in the 4th quarter valued at $202,000. Finally, CIBC Asset Management Inc bought a new stake in United States Steel in the 4th quarter valued at $209,000. 68.27% of the stock is currently owned by institutional investors and hedge funds.
NYSE X traded down $2.12 on Friday, hitting $34.49. 15,810,510 shares of the company were exchanged, compared to its average volume of 13,040,351. The company has a market cap of $6,439.08, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 0.98 and a beta of 2.97. The company has a quick ratio of 1.11, a current ratio of 1.75 and a debt-to-equity ratio of 0.81. United States Steel Co. has a 1-year low of $18.55 and a 1-year high of $47.64.
United States Steel (NYSE:X) last issued its quarterly earnings results on Wednesday, January 31st. The basic materials company reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.09. The business had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.10 billion. United States Steel had a net margin of 3.16% and a return on equity of 12.56%. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.27 EPS. equities analysts expect that United States Steel Co. will post 4.67 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 9th. Investors of record on Friday, February 9th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.20 annualized dividend and a yield of 0.58%. United States Steel’s dividend payout ratio (DPR) is 10.31%.
X has been the topic of several analyst reports. Bank of America lowered shares of United States Steel from a “buy” rating to a “neutral” rating and set a $50.00 price target on the stock. in a report on Friday, March 2nd. ValuEngine raised shares of United States Steel from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Longbow Research upgraded shares of United States Steel from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. Citigroup upgraded shares of United States Steel from a “neutral” rating to a “buy” rating and boosted their target price for the company from $18.55 to $47.64 in a research note on Monday, April 2nd. Finally, Argus restated a “buy” rating and issued a $52.00 target price (up previously from $41.00) on shares of United States Steel in a research note on Wednesday, February 21st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $40.11.
In other United States Steel news, CEO David B. Burritt sold 36,072 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $39.95, for a total transaction of $1,441,076.40. Following the transaction, the chief executive officer now directly owns 166,411 shares in the company, valued at approximately $6,648,119.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO David B. Burritt sold 6,936 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $39.95, for a total transaction of $277,093.20. Following the transaction, the chief executive officer now owns 179,567 shares in the company, valued at $7,173,701.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 114,895 shares of company stock worth $4,742,234. 1.01% of the stock is owned by corporate insiders.
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United States Steel 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).
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