Oppenheimer & Co. Inc. raised its holdings in United States Steel Co. (NYSE:X) by 38.9% in the 2nd quarter, HoldingsChannel reports. The firm owned 21,528 shares of the basic materials company’s stock after acquiring an additional 6,027 shares during the period. Oppenheimer & Co. Inc.’s holdings in United States Steel were worth $748,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Alps Advisors Inc. grew its position in shares of United States Steel by 155.1% in the first quarter. Alps Advisors Inc. now owns 16,515 shares of the basic materials company’s stock valued at $581,000 after purchasing an additional 10,042 shares during the period. New York State Teachers Retirement System grew its position in shares of United States Steel by 2.3% in the first quarter. New York State Teachers Retirement System now owns 250,529 shares of the basic materials company’s stock valued at $8,816,000 after purchasing an additional 5,600 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of United States Steel in the first quarter valued at $183,000. Prudential Financial Inc. grew its position in shares of United States Steel by 14.6% in the first quarter. Prudential Financial Inc. now owns 1,663,862 shares of the basic materials company’s stock valued at $58,551,000 after purchasing an additional 211,940 shares during the period. Finally, Swiss National Bank boosted its holdings in United States Steel by 2.2% in the first quarter. Swiss National Bank now owns 304,500 shares of the basic materials company’s stock valued at $10,715,000 after acquiring an additional 6,500 shares during the last quarter. Hedge funds and other institutional investors own 68.20% of the company’s stock.
Shares of X opened at $29.66 on Friday. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 0.64 and a beta of 3.14. United States Steel Co. has a 12 month low of $23.16 and a 12 month high of $47.64. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.66.
United States Steel (NYSE:X) last issued its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $1.46 EPS for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.33. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.47 billion. United States Steel had a return on equity of 18.70% and a net margin of 4.09%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.07 earnings per share. equities research analysts predict that United States Steel Co. will post 5.77 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Thursday, August 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 0.67%. The ex-dividend date is Wednesday, August 8th. United States Steel’s dividend payout ratio is presently 10.31%.
A number of brokerages recently weighed in on X. Morgan Stanley cut United States Steel from an “overweight” rating to an “underweight” rating and reduced their target price for the company from $44.00 to $30.00 in a report on Monday, August 27th. Credit Suisse Group reduced their target price on United States Steel from $55.00 to $48.00 in a report on Thursday, August 23rd. ValuEngine cut United States Steel from a “hold” rating to a “sell” rating in a report on Friday, August 17th. TheStreet upgraded United States Steel from a “c” rating to a “b” rating in a report on Thursday, August 2nd. Finally, Zacks Investment Research upgraded United States Steel from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Tuesday, July 17th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $42.02.
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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