United States Steel Co. (NYSE:X) CFO Kevin Bradley bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The stock was bought at an average cost of $29.53 per share, for a total transaction of $295,300.00. Following the completion of the transaction, the chief financial officer now directly owns 102,785 shares in the company, valued at $3,035,241.05. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.
X stock opened at $27.69 on Friday. United States Steel Co. has a one year low of $24.84 and a one year high of $47.64. The firm has a market capitalization of $5.20 billion, a PE ratio of 14.27, a PEG ratio of 0.68 and a beta of 2.92. The company has a quick ratio of 0.99, a current ratio of 1.62 and a debt-to-equity ratio of 0.63.
United States Steel (NYSE:X) last released its earnings results on Friday, November 2nd. The basic materials company reported $1.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.73 by $0.06. United States Steel had a net margin of 5.01% and a return on equity of 21.69%. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.67 billion. During the same quarter last year, the business earned $0.92 EPS. The business’s revenue was up 14.8% on a year-over-year basis. As a group, research analysts expect that United States Steel Co. will post 5.41 EPS for the current year.
United States Steel announced that its board has approved a stock buyback program on Thursday, November 1st that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the basic materials company to buy up to 6.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The company 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 $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Thursday, November 8th. United States Steel’s dividend payout ratio (DPR) is presently 10.31%.
Several hedge funds have recently added to or reduced their stakes in X. Advisors Preferred LLC lifted its stake in shares of United States Steel by 131.7% in the second 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 period. Exane Derivatives lifted its stake in shares of United States Steel by 364,000.0% in the third 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 period. Trustcore Financial Services LLC acquired a new stake in shares of United States Steel in the third quarter valued at about $128,000. Truvestments Capital LLC acquired a new stake in shares of United States Steel in the third quarter valued at about $143,000. Finally, NuWave Investment Management LLC acquired a new stake in shares of United States Steel in the second quarter valued at about $189,000. Institutional investors own 68.30% of the company’s stock.
A number of research analysts recently commented on the stock. BMO Capital Markets dropped their target price on shares of United States Steel from $36.00 to $33.00 and set a “market perform” rating on the stock in a research report on Monday, November 5th. They noted that the move was a valuation call. ValuEngine raised shares of United States Steel from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st. Citigroup dropped their target price on shares of United States Steel from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, November 6th. Zacks Investment Research raised shares of United States Steel from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Tuesday, July 17th. Finally, Seaport Global Securities assumed coverage on shares of United States Steel in a research report on Thursday, October 11th. They issued a “buy” rating and a $35.00 target price on the stock. 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’s stock. The company currently has an average rating of “Hold” and an average price target of $39.72.
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About United States Steel
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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