Wealth Enhancement Advisory Services LLC increased its position in United States Steel Co. (NYSE:X) by 10.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 30,674 shares of the basic materials company’s stock after purchasing an additional 2,870 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in United States Steel were worth $781,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of X. Advisors Preferred LLC lifted its holdings in shares of United States Steel by 131.7% in the 2nd quarter. Advisors Preferred LLC now owns 3,074 shares of the basic materials company’s stock valued at $107,000 after purchasing an additional 1,747 shares during the last quarter. Exane Derivatives lifted its holdings in shares of United States Steel by 364,000.0% in the 3rd quarter. Exane Derivatives now owns 3,641 shares of the basic materials company’s stock valued at $112,000 after purchasing an additional 3,640 shares during the last quarter. Truvestments Capital LLC purchased a new stake in shares of United States Steel in the 3rd quarter valued at about $143,000. NuWave Investment Management LLC purchased a new stake in shares of United States Steel in the 2nd quarter valued at about $189,000. Finally, Syntal Capital Partners LLC purchased a new stake in shares of United States Steel in the 2nd quarter valued at about $208,000. 68.30% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently weighed in on the company. Citigroup reduced their target price on United States Steel from $45.00 to $40.00 and set a “buy” rating for the company in a report on Tuesday. BMO Capital Markets reduced their target price on United States Steel from $36.00 to $33.00 and set a “market perform” rating for the company in a report on Monday. They noted that the move was a valuation call. Credit Suisse Group reduced their target price on United States Steel from $55.00 to $48.00 in a report on Thursday, August 23rd. TheStreet raised United States Steel from a “c” rating to a “b” rating in a research note on Thursday, August 2nd. Finally, ValuEngine downgraded United States Steel from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $39.72.
X opened at $29.33 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.62 and a debt-to-equity ratio of 0.63. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 0.60 and a beta of 2.92. 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 posted its quarterly earnings data on Friday, November 2nd. The basic materials company reported $1.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.06. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.67 billion. United States Steel had a return on equity of 21.69% and a net margin of 5.01%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.92 EPS. On average, equities research analysts expect that United States Steel Co. will post 5.67 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.68%. 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 declared that its Board of Directors has initiated a share repurchase program on Thursday, November 1st that allows the company to buyback $300.00 million in shares. This buyback authorization allows the basic materials company to repurchase up to 6.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.
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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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