Rhumbline Advisers increased its holdings in United States Steel Co. (NYSE:X) by 10.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 340,548 shares of the basic materials company’s stock after purchasing an additional 31,215 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of United States Steel worth $8,738,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its holdings in United States Steel by 0.4% in the 2nd quarter. BlackRock Inc. now owns 14,343,698 shares of the basic materials company’s stock worth $317,570,000 after buying an additional 63,943 shares during the period. Amerigo Asset Management purchased a new stake in shares of United States Steel during the 3rd quarter valued at $158,558,000. State Street Corp raised its position in shares of United States Steel by 6.2% during the 2nd quarter. State Street Corp now owns 5,889,434 shares of the basic materials company’s stock valued at $130,394,000 after buying an additional 341,591 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of United States Steel by 7.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,245,149 shares of the basic materials company’s stock valued at $71,851,000 after buying an additional 236,714 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of United States Steel by 5.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,928,402 shares of the basic materials company’s stock valued at $42,695,000 after buying an additional 93,579 shares in the last quarter. 64.27% of the stock is currently owned by institutional investors.
In other news, Director Eugene Sperling bought 1,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was purchased at an average cost of $25.16 per share, with a total value of $25,160.00. Following the acquisition, the director now directly owns 3,009 shares in the company, valued at $75,706.44. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin Bradley bought 36,762 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were purchased at an average cost of $27.23 per share, with a total value of $1,001,029.26. Following the completion of the acquisition, the chief financial officer now owns 30,415 shares in the company, valued at $828,200.45. The disclosure for this purchase can be found here. Insiders sold a total of 19,265 shares of company stock valued at $577,950 over the last ninety days. 1.00% of the stock is currently owned by insiders.
Shares of United States Steel Co. (NYSE X) traded up $0.97 on Thursday, hitting $32.08. 10,267,291 shares of the stock traded hands, compared to its average volume of 16,552,803. The company has a current ratio of 1.89, a quick ratio of 1.23 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $5,220.08, a P/E ratio of 20.86 and a beta of 3.00. United States Steel Co. has a 1-year low of $18.55 and a 1-year high of $41.83.
United States Steel (NYSE:X) last issued its earnings results on Tuesday, October 31st. The basic materials company reported $0.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.25. United States Steel had a net margin of 1.05% and a return on equity of 10.27%. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the prior year, the business earned $0.40 EPS. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. sell-side analysts forecast that United States Steel Co. will post 1.8 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 10th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Thursday, November 9th. United States Steel’s payout ratio is currently 29.85%.
A number of brokerages recently commented on X. Barclays reiterated an “equal weight” rating and issued a $25.00 target price (up previously from $24.00) on shares of United States Steel in a research report on Wednesday, August 9th. KeyCorp reissued a “hold” rating on shares of United States Steel in a report on Friday, November 17th. Longbow Research reissued a “neutral” rating on shares of United States Steel in a report on Tuesday, October 3rd. Cowen lowered shares of United States Steel from a “market perform” rating to an “underperform” rating and cut their target price for the company from $24.00 to $20.00 in a research note on Friday, September 22nd. Finally, Jefferies Group reissued a “buy” rating on shares of United States Steel in a research report on Monday, September 18th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $29.34.
United States Steel Profile
United States Steel Corporation is an integrated steel producer. The Company is engaged in producing flat-rolled and tubular products with production operations in North America and Europe. The Company operates through three segments: Flat-Rolled Products (Flat-Rolled), U. S. Steel Europe (USSE) and Tubular Products (Tubular).