AE Wealth Management LLC lifted its stake in shares of United States Steel Co. (NYSE:X – Free Report) by 32.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,305 shares of the basic materials company’s stock after purchasing an additional 5,741 shares during the period. AE Wealth Management LLC’s holdings in United States Steel were worth $583,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of X. Norges Bank acquired a new stake in shares of United States Steel during the fourth quarter worth $61,925,000. First Trust Advisors LP grew its holdings in shares of United States Steel by 155.8% during the first quarter. First Trust Advisors LP now owns 3,309,824 shares of the basic materials company’s stock valued at $124,913,000 after buying an additional 2,015,980 shares in the last quarter. Balyasny Asset Management L.P. grew its holdings in shares of United States Steel by 930.3% during the first quarter. Balyasny Asset Management L.P. now owns 1,252,910 shares of the basic materials company’s stock valued at $32,701,000 after buying an additional 1,131,304 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of United States Steel by 188.4% during the first quarter. Prudential Financial Inc. now owns 1,296,959 shares of the basic materials company’s stock valued at $23,229,000 after buying an additional 847,203 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of United States Steel by 169.3% during the fourth quarter. Deutsche Bank AG now owns 1,142,242 shares of the basic materials company’s stock valued at $28,613,000 after buying an additional 718,140 shares in the last quarter. 74.60% of the stock is owned by institutional investors and hedge funds.
United States Steel Stock Performance
Shares of NYSE X opened at $32.25 on Friday. The business’s 50-day moving average price is $28.78 and its two-hundred day moving average price is $25.55. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.92 and a quick ratio of 1.30. United States Steel Co. has a one year low of $18.01 and a one year high of $32.52. The company has a market capitalization of $7.19 billion, a P/E ratio of 6.19 and a beta of 2.14.
United States Steel (NYSE:X – Get Free Report) last released its quarterly earnings results on Friday, July 28th. The basic materials company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.06. The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $5.11 billion. United States Steel had a return on equity of 13.51% and a net margin of 7.05%. The firm’s revenue was down 20.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.86 EPS. Analysts anticipate that United States Steel Co. will post 4.08 earnings per share for the current fiscal year.
United States Steel Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Monday, August 7th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, August 4th. This represents a $0.20 annualized dividend and a dividend yield of 0.62%. United States Steel’s dividend payout ratio (DPR) is presently 3.85%.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on the company. Citigroup lifted their price target on United States Steel from $30.00 to $32.00 and gave the company a “neutral” rating in a report on Monday. BMO Capital Markets lowered their price target on United States Steel from $27.00 to $26.00 in a report on Monday, July 31st. Wolfe Research downgraded United States Steel from a “peer perform” rating to an “underperform” rating and set a $19.00 price target on the stock. in a report on Thursday, June 1st. Morgan Stanley reiterated an “equal weight” rating and set a $25.00 price target on shares of United States Steel in a report on Tuesday, August 1st. Finally, BNP Paribas downgraded United States Steel from an “outperform” rating to a “neutral” rating and set a $26.00 target price on the stock. in a research note on Wednesday, July 5th. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $25.25.
Get Our Latest Report on United States Steel
Insider Transactions at United States Steel
In other news, SVP Scott D. Buckiso sold 8,970 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $31.16, for a total transaction of $279,505.20. Following the completion of the sale, the senior vice president now owns 106,854 shares in the company, valued at approximately $3,329,570.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other United States Steel news, SVP Duane D. Holloway sold 23,406 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $31.00, for a total value of $725,586.00. Following the completion of the transaction, the senior vice president now owns 105,800 shares of the company’s stock, valued at approximately $3,279,800. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Scott D. Buckiso sold 8,970 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $31.16, for a total value of $279,505.20. Following the completion of the transaction, the senior vice president now directly owns 106,854 shares of the company’s stock, valued at approximately $3,329,570.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 101,944 shares of company stock worth $3,217,822. 0.98% of the stock is owned by corporate insiders.
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 four segments: North American Flat-Rolled (Flat-Rolled), Mini Mill, 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 iron ore and coke.
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