CIBC World Markets Inc. raised its position in shares of United States Steel Co. (NYSE:X) by 521.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,500 shares of the basic materials company’s stock after acquiring an additional 38,174 shares during the period. CIBC World Markets Inc.’s holdings in United States Steel were worth $1,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of X. Banco de Sabadell S.A bought a new position in shares of United States Steel during the 4th quarter valued at approximately $100,000. O Shaughnessy Asset Management LLC bought a new position in shares of United States Steel during the 1st quarter valued at approximately $129,000. We Are One Seven LLC bought a new position in shares of United States Steel during the 4th quarter valued at approximately $132,000. CoreCommodity Management LLC bought a new position in shares of United States Steel during the 4th quarter valued at approximately $152,000. Finally, US Bancorp DE increased its position in shares of United States Steel by 81.2% during the 4th quarter. US Bancorp DE now owns 4,563 shares of the basic materials company’s stock valued at $160,000 after purchasing an additional 2,045 shares during the last quarter. 71.39% of the stock is currently owned by institutional investors and hedge funds.
United States Steel opened at $34.47 on Thursday, according to MarketBeat.com. United States Steel Co. has a 12-month low of $20.67 and a 12-month high of $47.64. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.02 and a current ratio of 1.63. The firm has a market cap of $6.10 billion, a PE ratio of 17.77, a PEG ratio of 0.80 and a beta of 3.03.
United States Steel (NYSE:X) last posted its quarterly earnings results on Thursday, April 26th. The basic materials company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.03. United States Steel had a return on equity of 17.92% and a net margin of 4.62%. The business had revenue of $3.15 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same quarter in the prior year, the company earned ($0.83) EPS. The business’s revenue was up 15.6% compared to the same quarter last year. equities analysts expect that United States Steel Co. will post 5.39 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Thursday, May 10th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Wednesday, May 9th. United States Steel’s payout ratio is 10.31%.
Several research firms have recently weighed in on X. Bank of America downgraded United States Steel from a “buy” rating to a “neutral” rating and set a $50.00 target price on the stock. in a research report on Friday, March 2nd. Cowen cut their target price on United States Steel from $41.00 to $37.00 and set a “market perform” rating on the stock in a research report on Monday, April 30th. JPMorgan Chase & Co. boosted their target price on United States Steel from $48.00 to $69.00 in a research report on Friday, March 9th. UBS Group cut their target price on United States Steel from $30.00 to $28.00 and set a “sell” rating on the stock in a research report on Friday, May 11th. Finally, Citigroup cut their price objective on United States Steel from $46.00 to $42.00 and set a “buy” rating on the stock in a research report on Monday, April 30th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $41.17.
In other news, VP Sara A. Greenstein sold 3,607 shares of the stock in a transaction on Friday, June 1st. The stock was sold at an average price of $37.50, for a total transaction of $135,262.50. Following the transaction, the vice president now owns 47,962 shares of the company’s stock, valued at approximately $1,798,575. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin Bradley purchased 10,000 shares of the company’s stock in a transaction dated Tuesday, May 1st. The shares were purchased at an average cost of $32.42 per share, for a total transaction of $324,200.00. Following the transaction, the chief financial officer now directly owns 93,496 shares in the company, valued at approximately $3,031,140.32. The disclosure for this purchase can be found here. 1.01% of the stock is currently owned by corporate insiders.
United States Steel Profile
United States Steel Corporation produces and sells flat-rolled and tubular steel products primarily in North America and Europe. It operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products.
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