James Investment Research Inc. decreased its stake in United States Steel Co. (NYSE:X) by 25.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,323 shares of the basic materials company’s stock after selling 18,098 shares during the period. James Investment Research Inc.’s holdings in United States Steel were worth $1,058,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of X. Pennsylvania Trust Co acquired a new stake in United States Steel during the first quarter worth approximately $7,647,000. Morgan Stanley grew its stake in United States Steel by 8.4% during the third quarter. Morgan Stanley now owns 1,909,374 shares of the basic materials company’s stock worth $58,195,000 after purchasing an additional 147,262 shares during the period. Kentucky Retirement Systems acquired a new stake in United States Steel during the third quarter worth approximately $352,000. Pitcairn Co. grew its stake in United States Steel by 8.5% during the fourth quarter. Pitcairn Co. now owns 14,327 shares of the basic materials company’s stock worth $262,000 after purchasing an additional 1,126 shares during the period. Finally, Retirement Systems of Alabama grew its stake in United States Steel by 0.4% during the fourth quarter. Retirement Systems of Alabama now owns 229,840 shares of the basic materials company’s stock worth $4,192,000 after purchasing an additional 813 shares during the period. 66.96% of the stock is owned by institutional investors.
Several research analysts have issued reports on X shares. Zacks Investment Research upgraded United States Steel from a “strong sell” rating to a “hold” rating in a report on Thursday, April 4th. BMO Capital Markets reiterated a “market perform” rating on shares of United States Steel in a report on Monday, May 6th. They noted that the move was a valuation call. Credit Suisse Group lowered United States Steel from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $21.00 to $13.00 in a report on Tuesday, April 9th. Bank of America lowered United States Steel from a “buy” rating to an “underperform” rating and cut their price target for the stock from $31.00 to $18.00 in a report on Thursday, April 11th. Finally, Morgan Stanley upgraded United States Steel from an “underweight” rating to an “equal weight” rating and set a $22.00 price target on the stock in a report on Monday, January 28th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. United States Steel currently has a consensus rating of “Hold” and a consensus price target of $22.61.
United States Steel stock traded down $0.65 during mid-day trading on Wednesday, reaching $14.25. 16,153,404 shares of the company’s stock were exchanged, compared to its average volume of 10,994,574. The firm has a market capitalization of $2.52 billion, a P/E ratio of 2.66, a price-to-earnings-growth ratio of 1.07 and a beta of 2.69. United States Steel Co. has a one year low of $13.92 and a one year high of $39.23. The company has a current ratio of 1.47, a quick ratio of 0.80 and a debt-to-equity ratio of 0.59.
United States Steel (NYSE:X) last released its earnings results on Thursday, May 2nd. The basic materials company reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.30. United States Steel had a return on equity of 24.72% and a net margin of 7.92%. The business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.37 billion. During the same period last year, the business posted $0.32 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. Analysts predict that United States Steel Co. will post 1.7 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 13th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, May 10th. United States Steel’s dividend payout ratio (DPR) is presently 3.73%.
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: North American Flat-Rolled (Flat-Rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment offers slabs, strip mill plates, sheets and tin mill products, as well as all iron ore and coke.
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