Advisors Asset Management Inc. increased its stake in United States Steel Co. (NYSE:X) by 30.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,300 shares of the basic materials company’s stock after acquiring an additional 6,092 shares during the quarter. Advisors Asset Management Inc.’s holdings in United States Steel were worth $914,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in United States Steel by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 4,697,650 shares of the basic materials company’s stock worth $163,244,000 after buying an additional 240,580 shares in the last quarter. Luminus Management LLC grew its holdings in United States Steel by 88.9% during the second quarter. Luminus Management LLC now owns 2,491,501 shares of the basic materials company’s stock worth $86,580,000 after buying an additional 1,172,525 shares in the last quarter. Pelham Capital Ltd. bought a new stake in United States Steel during the second quarter worth $50,388,000. Allianz Asset Management GmbH grew its holdings in United States Steel by 261.9% during the first quarter. Allianz Asset Management GmbH now owns 907,501 shares of the basic materials company’s stock worth $31,935,000 after buying an additional 656,726 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in United States Steel by 4.3% during the first quarter. Principal Financial Group Inc. now owns 774,242 shares of the basic materials company’s stock worth $27,246,000 after buying an additional 31,607 shares in the last quarter. 67.96% of the stock is currently owned by institutional investors.
X has been the topic of a number of recent research reports. Credit Suisse Group dropped their price target on United States Steel from $55.00 to $48.00 in a research report on Thursday, August 23rd. TheStreet raised United States Steel from a “c” rating to a “b” rating in a research report on Thursday, August 2nd. Zacks Investment Research raised United States Steel from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Tuesday, July 17th. Seaport Global Securities initiated coverage on United States Steel in a research report on Thursday, October 11th. They set a “buy” rating and a $35.00 price target on the stock. Finally, Deutsche Bank cut United States Steel from a “buy” rating to a “hold” rating and dropped their price target for the company from $47.00 to $35.00 in a research report on Tuesday, October 2nd. Four analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $40.72.
Shares of X opened at $27.97 on Friday. The stock has a market cap of $4.96 billion, a P/E ratio of 6.46, a P/E/G ratio of 0.60 and a beta of 2.92. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.66. United States Steel Co. has a 52-week low of $24.84 and a 52-week high of $47.64.
United States Steel (NYSE:X) last issued its quarterly earnings data on Friday, November 2nd. The basic materials company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.06. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.67 billion. United States Steel had a return on equity of 22.46% and a net margin of 5.01%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.92 EPS. As a group, research analysts expect that United States Steel Co. will post 5.82 EPS for the current year.
The business also recently disclosed a dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 9th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, November 8th. United States Steel’s dividend payout ratio (DPR) is 10.31%.
United States Steel announced that its Board of Directors has initiated a share repurchase program on Thursday, November 1st that authorizes the company to buyback $300.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to buy up to 6.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
United States Steel Company 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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