The Manufacturers Life Insurance Company decreased its position in shares of United States Steel Co. (NYSE:X) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,992 shares of the basic materials company’s stock after selling 7,688 shares during the quarter. The Manufacturers Life Insurance Company owned 0.16% of United States Steel worth $9,888,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in X. Elkfork Partners LLC acquired a new position in shares of United States Steel during the 4th quarter worth approximately $540,000. Chemical Bank acquired a new position in shares of United States Steel during the 4th quarter worth approximately $208,000. California State Teachers Retirement System raised its position in shares of United States Steel by 0.7% during the 4th quarter. California State Teachers Retirement System now owns 302,575 shares of the basic materials company’s stock worth $10,648,000 after purchasing an additional 2,233 shares during the last quarter. We Are One Seven LLC acquired a new position in shares of United States Steel during the 4th quarter worth approximately $132,000. Finally, First Trust Advisors LP acquired a new position in shares of United States Steel during the 4th quarter worth approximately $8,832,000. 71.39% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on X. Zacks Investment Research upgraded United States Steel from a “hold” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a research report on Saturday, April 14th. BMO Capital Markets cut their price objective on United States Steel from $50.00 to $45.00 and set a “market perform” rating for the company in a research report on Monday, April 30th. They noted that the move was a valuation call. ValuEngine downgraded United States Steel from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. Goldman Sachs Group began coverage on United States Steel in a research report on Tuesday, March 20th. They set a “neutral” rating and a $45.00 price objective for the company. Finally, Deutsche Bank lifted their price objective on United States Steel from $44.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, March 29th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $41.17.
Shares of United States Steel opened at $34.75 on Friday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.63 and a quick ratio of 1.02. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 0.80 and a beta of 3.03. United States Steel Co. has a fifty-two week low of $20.67 and a fifty-two week high of $47.64.
United States Steel (NYSE:X) last issued its quarterly earnings results on Thursday, April 26th. The basic materials company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.03. The company had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.15 billion. United States Steel had a return on equity of 17.92% and a net margin of 4.62%. United States Steel’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.83) EPS. analysts forecast that United States Steel Co. will post 5.39 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 8th. Stockholders of record on Thursday, May 10th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, May 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.58%. United States Steel’s payout ratio is 10.31%.
In other news, VP Sara A. Greenstein sold 3,607 shares of the company’s stock in a transaction on Friday, June 1st. The stock was sold at an average price of $37.50, for a total transaction of $135,262.50. Following the completion of the sale, the vice president now directly owns 47,962 shares in the company, valued at approximately $1,798,575. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kevin Bradley acquired 10,000 shares of the company’s stock in a transaction dated Tuesday, May 1st. The shares were purchased at an average price of $32.42 per share, with a total value of $324,200.00. Following the completion of the acquisition, the chief financial officer now owns 93,496 shares in the company, valued at $3,031,140.32. The disclosure for this purchase can be found here. Corporate insiders own 1.01% of the company’s stock.
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: 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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